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Textile Recycling Market Trends

Report ID: GMI5569
Published Date: Apr 2023
Report Format: PDF

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Textile Recycling Market Trends

Despite a positive outlook for technology adoption, the textile recycling market faces a major hurdle owing to the high machinery and equipment prices in textile recycling. Many developing and low-income countries hesitate to import textile recycling machines due to import duties, resulting in significantly higher textile waste. Approximately 75% of textile waste is landfilled and 25% is recycled, depicting a greater need for waste management initiatives by governments. Nonetheless, the recent transition in consumer behavior and awareness regarding carbon emissions is likely to encourage several nations to introduce zero-textile waste programs, overcoming this restraint in the future.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of textile recycling valuation at USD 5.72 billion in 2023 and is primed to progress at over 4% CAGR between 2024 and 2032 propelled by accelerating fast-fashion trends and increasing awareness regarding carbon footprint.

The polyester segment is poised to garner a valuation of around USD 4 billion by 2032 as a result of the growing popularity of polyester-based athletic wear and other performance fabrics.

The home furnishing end-use segment is anticipated to exceed USD 1 billion by 2032 owing to the wide applicability of textiles in a variety of products such as curtains, bedding, upholstery, and carpets.

Asia Pacific market is set to reach USD 2.5 billion by 2032 attributable to increased consumer awareness regarding the environmental impact of textile waste in the region.