Recycled Textiles Market Growth Stable at a CAGR of 6.2% to reach the US Dollar
The study on Recycled Textile market size, share, growth and trends provides details about market dynamics affecting the market, market scope, market segmentation and overlays on major market players , highlighting the advantageous competitive landscape and prevailing trends over the years. The Recycled Textiles Market report also provides in-depth understanding of state-of-the-art competitive analysis of emerging market trends along with drivers, restraints, challenges, and opportunities in the Recycled Textiles market to offer useful insights and current scenario to make the right decision.
Recycled Textile Market was valued at US$5,855.39 Million in 2019 and is projected to reach US$9,365.04 Million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027.
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Segments and Sub-Sections of the Recycled Textile Market are shown below:
By type (recycled cotton, recycled wool, recycled polyester, recycled nylon and others)
By end-user industry (automotive, retail, mining and other)
Growing Concerns About Textile Waste Disposal
The textile manufacturing mechanism is considered to be one of the chemical intensive processes that generates a high volume of textile waste throughout its operations. Textile waste can be separated into two groups, pre-consumer textile waste and post-consumer textiles. The increase in the amount of textile waste creates a burden on the environment and generates the problem of efficient disposal or incineration in existing landfills. According to one estimate, around 10-20% of all unused textile products are considered waste. For example, according to the US EPA, in 2015 a total of 15.75 million tons of textiles were generated as municipal solid waste, of which 19% was incinerated, while 65% ended up in landfills. Additionally, a report by the United States Environmental Protection Agency suggests that the production and disposal of textiles results in greenhouse gas emissions. Additionally, the incineration process emits organic substances such as heavy metals, dioxins, acid gases and dust particles, which are considered harmful to humans and the environment. In addition, the disposal of bottom ash has also become a serious problem as it also contains a high concentration of toxic materials. Therefore, it is quite imperative to effectively manage textile waste through reuse or recycling methods, which could promote environmental sustainability. In such situations, textile waste recycling is seen as a viable alternative, which helps reduce the load on natural resources, minimizes the need for landfill space and helps save energy. Additionally, strict government legislations regulating the effective management of textile waste potentially aim to promote the use of textile recycling as a sustainable alternative to address the looming waste-related problem.
Based on type, the recycled textiles market is segmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. The recycled nylon segment is expected to grow at the fastest growth rate during the forecast period 2019-2027. Recycled nylon is made from industrial plastics, fiber waste, weaving mill scraps and post-consumer fishing nets. They are regenerated into new nylon, which has the same quality as virgin nylon. Nylon bags, nylon fabrics and nylon mats are also converted to recycled nylon for further use. Much of the recycled nylon comes from fishing nets. It’s a great solution for diverting waste from the ocean. Recycling nylon is an expensive process compared to nylon, but it offers many environmental benefits. By recycling nylon, waste can be eliminated and the amount of greenhouse gas emissions from manufacturing can be reduced. It reduces dependence on oil as a source of raw material. Using recycled nylon also helps promote new recycling streams for nylon products that are no longer in use. Most mechanically recycled materials are melted at high temperatures which ultimately destroy contaminants and transform the materials into reusable forms. Nylon melts at low temperatures during recycling, leaving contaminants behind. Therefore, nylon needs to be thoroughly cleaned before being recycled.
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End User Industry Overview
Based on end-user industry, the recycling market is segmented into automotive, retail, mining, and others. Automotive segment is expected to grow at the fastest growth rate during the forecast period 2019-2027. Recycled textiles are used in the automotive industry and have a great contribution in the production of automotive components. The use of recycled textiles in automotive applications includes visible components such as floor coverings, upholstery, seat belts, and invisible to onlookers, recycled textiles such as tubing and tape, tire cords, airbag components and fibres. Recycled textiles are used in the automotive industry due to their resistance to traction, abrasion, air permeability, compression, elasticity, ease of cleaning, resistance flame resistance and resistance to dynamic climatic conditions. Recycled cotton is used in seat upholstery or automotive insulation.
The report covers major market players with detailed SWOT analysis, financial overview, and key product/service developments in the last three years. Moreover, the report also offers a 360º perspective of the market across the competitive landscape of the global industry player and helps companies to generate revenue in the Recycled Textiles Market by understanding the strategic growth approaches.
Key Recycled Textile Market Players:
Khaloom Textile India Pvt. ltd.
Usha Yarns Limited
Leigh Fibers Inc.
Martex Fiber Southern Corporation
Recycled Textile Market – Global Analysis to 2028 is an exclusive and in-depth study that provides a comprehensive view of the market including current trend and future market magnitude with respect to products/services. This report provides qualified market research to assess key players by calibrating all relevant products/services to understand the positioning of key players in the Recycled Textile market.
The report is a combination of qualitative and quantitative analysis of the Virtual Reality industry. The global market mainly considers five major regions, namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America ( SACM). The report also focuses on the exhaustive PEST analysis and extensive market dynamics over the forecast period.
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This study report proposes the following objectives:
Conjecture and review of the Global Recycled Textiles Market deals, share, value, status, and figure
Break down local and national portions, share development for Global Recycled Textile
Global Recycled Textile Industry Manufacturers/Driving Players Survey.
Characterize and investigate the market rivalry scene, SWOT examination.
Estimates and survey of provincial portions, subsections and business sectors based on past 5 years market history.
Recycled Textile Market review by type, by application/end customers, and insightful district.
Estimation and investigation of global Recycled Textile market trends, drivers, investment opportunities, openings, risks, difficulties, and suggestions.
Investigate critical driving forces, patterns that limit market development.
Describe the partner’s chances in the market by recognizing high development shards.
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