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SHERIDAN, WYOMING, UNITED STATES, August 2, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled“Textile Recycling Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global textile recycling market reached a value of US$ 5.02 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.86 Billion by 2027, exhibiting at a CAGR of 2.6% during 2022-2027.
Textile recycling is the process of recovering old garments and other textiles for reuse and material recovery. It includes donating, collecting, sorting, processing, and transportation of used garments, rags, and other recovered materials to end users. It assists in avoiding the use of virgin fibers, reducing consumption of energy and water, generating less pollution, and minimizing the need for dyes.
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Market Trends and Drivers:
At present, there is a rise in the demand for textile recycling on account of the growing environmental concerns and increasing awareness about the detrimental impact of waste incineration, heavy industrial discharges from textile mills, and depletion of silk and wool. This, along with the burgeoning textile industry across the globe, represents one of the key factors driving the market. Moreover, there is a rise in public awareness about the benefits of recycling old clothes. This, coupled with the increasing number of collection bins for cloth sorting at parking spaces, parks, shopping malls, and walkways, is propelling the growth of the market. In addition, several recycling companies are launching awareness campaigns about textile recycling and introducing door-to-door pickup programs for old garments.
Textile Recycling Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global textile recycling market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
American Textile Recycling
Boer Group Recycling Solutions
Infinited Fiber Company
Pure Waste Textiles
Retex Textiles Inc.
Key Market Segmentation:
The report has segmented the global textile recycling market on the basis of product type, textile waste, distribution channel, end use and region.
Breakup by Product Type:
Polyester & Polyester Fibre Recycling
Nylon & Nylon Fibre Recycling
Breakup by Textile Waste:
Breakup by Distribution Channel:
Retail & Departmental Stores
Breakup by End Use:
Breakup by Region:
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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