Textile Recycling Market Worth $5,962.7 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 7, 2023 /PRNewswire/ -- The global textile recycling market size is expected to reach USD 5,962.7 million by 2030, expanding at a CAGR of 3.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Factors such as the growing demand for recycled products coupled with rising environmental awareness regarding textile disposal are expected to boost the demand for textile recycling during the forecast period.

Key Industry Insights & Findings from the report:

The polyester segment accounted for 11.6% of the global revenue in 2022. The increasing initiatives and programs to recycle polyester to mitigate land pollution are driving the demand. Moreover, compared to virgin polyester, recycled polyester has a smaller carbon impact, according to the Sustainable Apparel Coalition's Higg Material Sustainability Index. Furthermore, each kilogram of mechanically recycled polyester results in a reduction of approximately 70% in greenhouse gas emissions.

The apparel waste segment is expected to witness a CAGR of 3.6% over the forecast period owing to increasing waste management, sorting, and recycling activities. The expansion of donation bin services for used clothes and footwear is also driving growth. For instance, H&M accepts textiles from any brand, old or new, and sends them to the nearest recycling plant. Customers receive a discount card for 15% off their next in-store purchase for every bag of textiles they drop off.

The mechanical segment accounted for 70.8% of the global revenue in 2022, which is attributed to the large number of recyclers operating with the mechanical recycling process and well-established processes for various materials. Furthermore, mechanical recycling technologies are the topmost CO2 friendly, with a potential reduction of 60%- 90% among all fiber types on spun fiber levels.

Asia Pacific is anticipated to grow at a CAGR of 3.8% over the forecast period. The demand for textile recycling activities is anticipated to increase in this region over the forecast period owing to rising concerns regarding the environmental impact of textile waste, increasing government initiatives for textile waste management, and ongoing development of innovative technologies for textile recycling. For instance, in May 2021, Hyosung Group, a South Korea-based manufacturer of fibers, signed a memorandum of understanding (MoU) with the municipal government of Ulsan City of the country for nylon recycling from fishing nets.

In September 2022, in Sundsvall, Sweden, the company opened the world's first 100% textile-to-textile recycling facility. The company anticipates that the entire process line will be running by September 2022. The capacity is anticipated to be 60,000 metric tons during the first half of 2022 and double by 2024.

Read 150-page market research report, "Textile Recycling Market Size, Share & Trends Analysis Report By Material (Cotton, Polyester, Wool, Polyamide), By Source (Apparel Waste), By Process (Mechanical), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Textile Recycling Market Growth & Trends

According to the Centre for the Promotion of Imports from Developing Countries (CBI), the global textile industry was valued at USD 904.13 billion in the year 2021, which includes clothing as well as furniture, mattress material, linens, drapes, cleaning materials, and recreational equipment, among other products. Globally, nearly 80 billion pieces of clothing are made annually. The average person purchases 60% more articles of clothes annually and uses them for around half as long as they did fifteen years ago, generating enormous amounts of textile waste. These aforementioned factors are expected to drive the demand for the textile recycling industry.

Concerns about the impact of incineration and landfill activities on textile disposal are likely to push companies and governments to look for more sustainable and environmentally friendly ways to dispose of textile waste. This is predicted to have a favorable impact on global demand for recycling operations, particularly in developing economies, and to drive market expansion over the forecast period.

Emerging new players in the market are also likely to propel the growth of the market, coupled with rising environmental awareness regarding textile disposal and recycling. For instance, Uniqlo stepped up with new initiatives to solve the rising garment waste production. The company initiated the program Re. Uniqlo, to create the ultimate recycling model in the company's supply chain. Furthermore, in April 2022, Lenzing AG launched the Tree Climate fabric collection for sustainable outdoor apparel. It features a wide range of mid, base, and outer-layer fabrics, each with a unique set of inherent performance characteristics for outdoor applications.

Low economic viability, low quality of the recycled product, non-accessibility of the recyclable material, and technological constraints are some of the restraining factors of the market growth. However, with government initiatives, and increasing expenditure on R&D, these challenges are likely to be vanquished. Furthermore, the fashion industry, due to its expanding production and demand, contributes significantly to the environmental problem. The proactive attempts to build a more environmentally friendly method through textile recycling have become the preferred solution. This urgent and significant need to find inexpensive and effective recycling solutions for textile waste has led to the development of numerous recycling technologies by the research community.

Key companies are strategizing to increase revenue generation, with a focus on R&D, mergers & acquisitions, and geographic expansion. For instance, in May 2023, the Lenzing Group achieved a circular future in partnership with several partners. Companies based in Austria have joined forces with not-for-profit organizations, including Lenzing's sorting & logistics partner Altstoff Recycling Austria AG, as well as the Swedish pulp producer Södra to collect used clothing textiles for reprocessing to produce pulp and, finally, new viscose fibers and lyocell. Furthermore, in May 2022, Textile Recycling International acquired its competitor, Germany-based Soex Group, which helped the company to increase its presence across Europe.

Textile Recycling Market Segmentation

Grand View Research has segmented the global textile recycling market based on material, source, process, and region

Textile Recycling Market - Material Outlook (Revenue, USD Million, 2018 - 2030)

Cotton

Polyester

Wool

Polyamide

Other

Textile Recycling Market - Source Outlook (Revenue, USD Million, 2018 - 2030)

Apparel Waste

Home Furnishing Waste

Automotive Waste

Other

Textile Recycling Market - Process Outlook (Revenue, USD Million, 2018 - 2030)

Mechanical

Chemical

Textile Recycling Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

Europe

Asia Pacific

Central & South America

Middle East & Africa

List of Key Players in the Textile Recycling Market

Worn again technologies

Lenzing Group

Birla Cellulose

BLS Ecotech

The Woolmark Company

iinouiio Ltd

Ecotex Group

The Boer Group

Unifi, Inc.

Textile Recycling International

Hyosung Group

Martex Fiber

RenewCell

Pistoni S.r.l.

RE TEXTIL Deutschland GmbH.

Check out more market research studies published by Grand View Research:

Technical Textile Market - The global technical textile market size is expected to reach USD 272.33 billion by 2030, registering a CAGR of 4.7% according to a new report by Grand View Research, Inc. The technical textile product exhibits exceptional strength, durability, and superior performance, which makes them fit for several industrial applications.

North America Geotextiles Market - The North America geotextiles market size is expected to reach USD 1.6 billion by 2030 and is expected to expand at 5.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to rising civil engineering, agricultural, and transportation activities in North America. In addition, geotextiles are used for preventing in-situ soil from being washed away into the drainage systems present in embankment dams, roads & highways, and reservoirs. The growing civil engineering industry in the region is expected to further fuel the regional demand.

Automotive Textiles Market - The global automotive textiles market is expected to reach USD 38.47 billion by 2030, expanding at a compounded annual growth rate (CAGR) of 3.2% from 2022 to 2030, according to a new report by Grand View Research Inc. Growth in automobile production coupled with the increasing focus on safety devices is expected to propel market growth.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.