TEXTILE RECYCLING SUSTAINABILITY GLOBAL
By IFAB MEDIA - NEWS BUREAU - May 4, 2023 | 25 3 minutes read
Textile recycling offers numerous environmental and economic benefits, such as reducing land and water pollution, minimizing dependence on virgin fibers, curbing the use of chemical dyes, and optimum consumption of energy and water. As a result, these textiles find wide applications across several end-use sectors, including apparel, home furnishings, and other industrial sectors, such as retail, automotive, mining, building, construction, etc.
The global textile recycling market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2028, exhibiting a growth rate (CAGR) of 2.85% during 2023-2028.
The escalating demand for recycled materials, on account of the growing environmental concerns towards the detrimental impact of waste incineration, heavy industrial discharges from textile mills, and depletion of raw materials, including silk and wool, is among the key factors stimulating the textile recycling market. Moreover, the increasing production of synthetic and polyester fabrics has led to high emission levels of greenhouse gases, thereby propelling the market growth. Besides this, the growing public awareness of the importance of recycling old clothes and the rising number of collection bins for cloth sorting are acting as significant growth-inducing factors. Furthermore, the top companies, such as Anandi Enterprises, American Textile Recycling Service, Boer Group Recycling Solutions, I:Collect GmbH, Infinited Fiber Company, and Unifi, Inc. are entering into strategic collaborations to automate business processes with the more heightened economic output, which is positively influencing the global market. Apart from this, the introduction of eco-clothes that are made up of recycled materials, plastics, and other organic raw materials have helped in waste reduction, resulted in minimal landfill space, and low dependency on virgin resources, including cotton and wool is anticipated to fuel the textile recycling market over the forecasted period.
Some of the top key players in the textile recycling market:
• Anandi Enterprises
• American Textile Recycling
• Boer Group Recycling Solutions
• I: Collect
• Infinited Fiber Company
• 6. Patagonia
• Pure Waste Textiles
• Retex Textiles Inc.
• Unifi Inc.
Credit Lines : IMARC GROUP