The global recycled textile market is expected to reach USD 10.37 billion by 2028, at a CAGR of 6.74% during the forecast period 2021-2028.

NEWARK, UNITED STATES, NEW JERSEY, November 11, 2021 /EINPresswire.com/ – According to the report published by The Brainy Insights, the global recycled textile market is expected to grow from $ 6.20 billion in 2020 to $ 10.37 billion by 2028, at a CAGR of 6.74% during the forecast period 2021-2028. The Asia-Pacific region dominated the global recycled textiles market and held the main market share of 45.65% in 2020. The growth is mainly driven by the increasing demand for recycled clothing in countries like China and India . In addition to this, the presence of a large number of textile recycling industries in the region, further stimulating the growth of the market. The Europe region emerged as the fastest growing region and with a CAGR of 7.5% during the forecast period. Increased awareness of the environmental impact of textile waste, driving market growth in the European region.

The major players in the global recycled textile market are Khaloom, Chindi, Kishco Group, Anandi Enterprises, Usha Yarns Ltd., Renewcell AB, Hyosung TNC Co. Ltd., Martex Fiber, Otto Garne and Leigh Fibers Inc., among others. The major players in the global recycled textiles market are mainly focused on adopting various strategies such as new product development, joint ventures, collaboration, technology integration, product innovations, mergers and acquisitions, and partnerships. to gain significant market share in the industry. In January 2018, Leigh Fibers Inc. announced its intention to acquire JE Herndon, a reprocessor of textile fibers and by-products primarily related to the cotton industry, to complement our overall product offering and expansion. geographical.

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The type segment is divided into recycled cotton, recycled wool, recycled polyester, recycled nylon and others. The recycled nylon segment is expected to grow at the highest CAGR of 7.02% during the forecast period. The growth is mainly due to the various properties of nylon, including its high strength and elasticity. Thus, the increasing use of recycled nylon in various end user industries is driving the growth of the market. The textile waste segment is divided into pre-consumer and post-consumer waste. Post-consumer waste was the main market share and was valued at $ 3.40 billion in 2020. Rising trend in fast fashion, where fashion trends have changed in a very short time, driving the growth of the post-consumer segment.

The end user segment includes clothing, industrial goods, home furnishings, nonwovens and others. Apparel segment accounted for the major market share and valued at USD 3.86 billion in 2020. Increased demand for personalized and low cost clothing, mainly driving the market growth.

The global recycled textiles market is growing rapidly due to the growing awareness of the harmful impact of textile waste on the environment. In addition to this, the increasing demand for cheap clothing in various countries, further stimulating the growth of the market. In addition, the increase in technological innovation in recycling equipment, also contributing to the growth of the market. In addition, many international brands have launched an initiative to collect used clothing from consumers, thus providing opportunities for growth in the market. However, the high cost of textile recycling operations may hamper the growth of the market during the forecast period.

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