Recycled Textile Market Growth Driven by Rising Concerns Related to the Disposal of Textile Waste

Europe has become a significant Recycled Textile market for the recycled textile on account of rising government initiatives in the region.

NEW YORK, UNITED STATES, March 23, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Recycled Textile Market to 2027 – COVID-19 Impact and Global Analysis– by Type (Recycled Cotton, Recycled Wool, Recycled Polyester, Recycled Nylon, and Others), End-user Industry (Automotive, Retail, Mining, and Others), and Geography” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The recycled textile market 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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Recycled textiles are old clothing or other unused textiles that can be recovered for reuse or material recovery. Recycling of textiles is done to treat textile waste and reuse the reclaimed fiber across diversified industrial base which helps to save natural resources and contribute to environment sustainability. Today sustainability has become the need for modern times. Everybody is concerned about protecting the environment. Recycled textiles help in saving the resources that are required to manufacture new apparels. Natural fibers such as cotton, silk and wool utilize resources that needs to be conserved. The use of recycled fabrics helps in mitigating the speed of depletion. It also reduce the consumption of energy and water during the process of recycling and controls soil, water and air pollution by decreasing landfill.

In recent years, there have been rising concerns related to the disposal of textile waste across the globe and may negativelyimpact the environment. The textile manufacturing mechanism is considered to be one of the chemical-intensive processes which generate a high volume of textile waste throughout its operations. The textile waste may besegregated into two groups, pre-consumer textile waste and post-consumer textile. The rise in amount of textile waste creates a burden on environment and generates the problem of effective disposal or incineration on existing landfills.According to an estimate, approximately 10–20% of all unused textile products are considered to be wasted. For instance, according to US EPA, in 2015, a total of 15.75 million tons of textiles were generated as municipal solid waste, of which 19 percent were incinerated, while 65 percent, ended in landfills.

Further, a report by U.S. Environmental Protection Agency suggests that production and disposal of textiles results into greenhouse gas emissions. Further, the process of incineration emits organic substances such as heavy metals, dioxins, acidic gases and dust particles, which are considered as harmful to both humans and the environment. Also, the disposing of residual ash has also become a serious issue asit also contains a high concentration of toxic material. Hence, it is quite imperative to effectively manage of textile waste through reuse or recycling methods, which could promote environment sustainability. Under such situations, recycling of textile waste is considered to be a viable alternative, which helps to reduce burden on natural resource, minimizes the need for landfill space and helps in saving energy.

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Recycled Textile Market: Competitive Analysis

The major players operating in the global recycled textilesmarket include Anandi Enterprises, Chindi, Khaloom Textiles India Pvt. Ltd., Kishco Group, Usha Yarns Limited, Hyosung Corporation, Leigh Fibers Inc., Martex Fiber Southern Corporation, Renewcell AB and Boer Groupamong others. These key players in the market are focused on new and improved product offerings so that it could meet out the demand for specific end-use industries in the market, which is further expected to boost this market. For instance, in April 2015, Anandi Enterprise has introduced recycled colored yarn up to 34s count. The company has the capacity of 200 tonnes per month with major contribution of recycled yarn that can be converted into fabrics. In July, 2018 Renewcell AB partners with WarfoTex Development project that focusses on building solution for recycling of textiles.

Impact of COVID-19 on Recycled Textile Market

The COVID-19 pandemic started in Wuhan (China) during December 2019 and has spread across the world at an energetic pace. The US, Brazil, India, Russia, South Africa, Mexico, Spain, and the UKare among the most affected nations in accordance with the number of cases registered as of 24 August 2020.According to the WHO, there are ~23,586,641 affirmed cases and 812,537death cases worldwide. COVID-19 has affected economies and undertakings due to lockdowns, travel bans, and business shutdowns. The global chemicals and materialsindustry is one of the major businesses enduring genuine agitating impacts due to the outbreak of COVID-19. These factors have unimaginably affected the global recycled textile market.

Recycled Textile Market by Type

Based on type, the recycled textile market is categorized into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. In 2019, the recycled polyester segment dominated the recycled textile market. Over the period of the time, it has been observed that the consumption of polyester has been increased, which has perpetually increased the amount of waste. This factor propels the need for recycling that helps save energy and promotes environment sustainability. Further, the textile produced from recycled polyester has the potential of being reprocessed for multiple times without posing any effect on the quality of the material. Also, the use of recycled polyester eliminates the dependency on petroleum as a raw material for the manufacture of fabrics. The manufactures involved in the business of recycled textile mainly use closed-loop processes to refine old polyester into raw materials used for the production of new garments and other items.

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