Recycled textiles are fabrics or fibers that are manufactured from pre-consumer or post-consumer waste materials rather than raw materials. Recycled textiles have properties such as moisture absorption, breathability and flexibility which makes them suitable for various applications including household furnishings, industrial products, fashion accessories and many more. The global recycled textile market is gaining traction due to rising awareness about environmental conservation and sustainable practices. There is a growing preference for recycled fabrics among consumers, businesses and manufacturers as recycled textiles reduce waste, lower carbon footprint and save resources. The global recycled textile market is estimated to be valued at US$ 5.61 Bn in 2024 and 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:
One of the major market trends fueling the growth of recycled textile market is the rising popularity of sustainable fashion. Customers are increasingly demanding eco-friendly clothing and textile products which use recycled or upcycled materials. Many leading fashion brands and retailers have started incorporating recycled polyester, cotton and nylon fibers in their clothing lines in response to this growing demand. Sustainable materials allow companies to attract ethically-conscious consumers while reducing their environmental impact. The growing focus on sustainability in the textile industry is expected to drive higher adoption of recycled textiles in the coming years.
Segment Analysis
The global recycled textile market is segmented into cotton, wool, polyester, nylon and other fibers. The cotton segment dominates the market and accounts for over 35% share owing to its high recyclability and increasing demand from new textile and home furnishing products. Cotton can be recycled infinite number of times without much loss in quality and strength.
Key Takeaways
The Global Recycled Textile Market Size is expected to witness high growth.
Regional analysis: North America is currently the largest market for recycled textiles with over 30% share. The region has stringent laws regarding textile waste management and recycling. Presence of major end-use industries like apparel, home furnishing and industrial in the US and Canada is propelling the demand. Asia Pacific is the fastest growing market and is expected to surpass North America by 2028. Rapid industrialization and urbanization in major economies like China and India are generating huge amounts of textile waste which is driving the recycling market in the region.
Key players: 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. Major players are focusing on developing advanced recycling technologies to recover high quality fibers from waste textiles. Partnerships with brand owners and retailers are also gaining traction to secure raw material supply.
For More Insights, Read: https://www.newswirestats.com/recycled-textile-market-trends-growth-and-regional-outlook-2023-2030/
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