May 28, 2024
Recycled Textile Market

Recycled Textile Market Propelled by Growing Awareness on Eco-Friendly Fabrics

Recycled textiles are fabrics manufactured from recovered and reused textile wastes to produce new textile products. They are derived from pre-consumer or post-consumer materials such as clothing clippings, scrap cloth and garment remnants from apparel manufacturing processes, cotton gin trash and old clothing that no longer serves its original purpose. Recycled textiles help reduce environmental pollution by diverting old textiles from landfills. They are increasingly being used to make durable home furnishings like carpets and upholstery using sustainable production techniques.The global Recycled Textile Market is estimated to be valued at US$ 5.61 Bn in 2024and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing awareness about the negative environmental impacts of textile wastes has prompted manufacturers to adopt eco-friendly practices and explore recycled textiles as a sustainable raw material option. Recycled polyester yarns and fabrics are gaining popularity as they are manufactured from post-consumer plastic bottles thus helping reduce plastic pollution. Major brands are incorporating recycled fibers in their product lines to appeal to the growing segment of environmentally conscious consumers. It is estimated that recycled polyester production will grow at over 7% annually driven by rising demand from apparel and home furnishings sectors seeking viable alternatives to virgin polyester and cotton.

SWOT Analysis

Strength: The recycled textile market is benefitting from rising environmental sustainability concerns and the need to reduce waste. Recycled textiles help lower emissions and save resources.
Weakness: Sorting and processing recycled textiles requires more effort than producing virgin materials. Maintaining quality standards during recycling can also be challenging.
Opportunity: With landfill space decreasing and recycling gaining popularity, there is vast scope for recycled textiles in reusable goods production. New technologies are making recycling more efficient.
Threats: Changes in fashion trends reduce the demand for some recycled textile products. Lower oil prices occasionally make virgin materials relatively cheaper undermining the recycled textile industry.

Key Takeaways

The Global Recycled Textile Market Size is expected to witness high growth.

Regional analysis: European region currently dominates the recycled textile market owing to stringent environmental regulations. Asia Pacific is expected to witness fastest growth during the forecast period led by countries like India and China where recycling industries are expanding rapidly.

Key players operating in the recycled textile market are LiNA medical, Blue endo, Johnson and Johnson, Hangzhou kangji medical instruments, WISAP medical technology, Zhejiang geyi medical instrument, Karl storz GmbH, Medtronic, Richard wolf GmbH, Lumenis (Boston Scientific Corporation), Nouvag AG, RUDOLF Medical GmbH, and Olympus Corporation.With firms both enhancing recycling technologies and merging recycled content with virgin fibers, the recycled textile industry is positioned for gains. However, players also need to devise solutions to address issues like inconsistent supply and maintaining quality.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it