The global textile recycling market size was valued at USD 5.76 billion in 2023. The market is expected to expand from USD 6.08 billion in 2024 to USD 8.49 billion by 2032, exhibiting a CAGR of 4.3% over the study period.

Textile recycling is the process that deploys discarded or used apparel, clothing, and fibrous material from eco-friendly and reusable products. The growing consumption of recycled textile products in the end-use industry, coupled with the increasing awareness of sustainable production, is augmenting market expansion.

Fortune Business Insights™ provides this information in its research report, titled “Textile Recycling Market, 2024-2032”.

Source: https://www.fortunebusinessinsights.com/textile-recycling-market-109273

Segmentation:

Usage of a Huge Amount of Polyester by a Large Population to Spur the Polyester & Polyester Fiber Segment Growth

In terms of material type, the market is divided into wool, polyester & polyester fiber, nylon & nylon fibers, cotton, and others. The polyester & polyester fiber segment accounted for the largest textile recycling market share in 2023. The consumption of a huge amount of polyester in the form of disposable bottles, tires, and other home-furnishing products by a large population is fostering the polyester & polyester fiber segment expansion.

Report Coverage

The report offers a detailed analysis of the key driving and restraining factors affecting the market growth. Additional aspects of the report include the major industry developments, the top trends, and the impact of the COVID-19 pandemic on the market growth. The report further encompasses a detailed overview of the strategic initiatives implemented by leading companies to keep ahead of their competition.

Key Industry Development:

October 2023 – Birla Cellulose announced the release of the eco-friendly circular yarn blend. The product is meant for newly manufactured textile products, including pants, t-shirts, and other clothing products.