sustainable
The global recycled textile market by type and end-user industry: Analysis and Industry forecast, 2019-2026 report has been conducted and added to various platforms.
The report states that the Global Recycled Textile market valued at $5.3 billion in 2018 is anticipated to rise up to $8 billion by 2026. The market is projected to show a massive growth from 2019 to 2026 at a CAGR of 5.2%.
The global textile market today experiences a consolidated nature. However, the numbers in the recycling old and waste, fabrics and materials sector is on the rise as more corporations focus on the reduction of carbon emission. This rise in recycling activities is what lays down the foundation for the growth in the market. Apart from the company’s progress towards the shift there are several end users such as garments, fabrics and automotive who also contribute towards the growth of the market.
As the cost involved in the recycled products is lower when compared to making new products the shift to recycled products is to gain momentum. However, the increase in processing cost is expected to tamper the market’s growth. In addition, the low-quality job offerings are expected to hinder the growth of the recycled textile industry. On the other hand the technological development in recycling processes may open lucrative growth opportunities for the recycled textile industry.
The global recycled textile market based on the type is categorized into recycled cotton, recycled wool, recycled polyester, recycled nylon, etc. The reports forecast that the recycled polyester market has established its dominance through its market share with respect to revenue, while recycled nylon is to expect a higher CAGR.
The global recycled textile market based end-user is divided into automotive, retail, mining, building & construction, and others. The retail industry experienced the highest market share whereas the automobile segment is expected to spike in its growth in the course of its forecast period.
The research for the global recycled textile market based on region is conducted across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). While North America is projected to grow at a higher CAGR, Asia-Pacific dominates the share market.
The key finding of the report states that North America is expected to grow at the highest CAGR of approximately 5.8% with respect to revenue during the forecast period. With respect to the type, the recycled polyester segment is expected to grow with CAGR of 4.9% with respect to revenue.
The report also claims that Asia-Pacific and North America had dominated the recycle textile market share over 35.9% and 29.7% in the year 2018.
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