The global recycled textiles market size was valued at $5.6 billion in 2019 and is anticipated to generate $7.6 billion by 2027. The market is projected to experience growth at a CAGR of 3.6% from 2020 to 2027.

The COVID-19 pandemic had a deep impact on the recycled textiles market as international trade bans and lock-downs were imposed,

however, the market is expected to show a recovery in a year.

Recycled textile is obtained through recycling and recovering of old clothing and waste fibrous materials through several treatments. Recyclable textiles are mostly found in municipal waste from sources such as old or discarded clothes, tires, footwear, carpets, furniture, and non-durable goods such as sheets and towels. The use of recycled textiles reduces pressure on virgin resources such as wool & cotton, pollution, and water & energy consumption.

The low cost of recycled products in comparison to virgin products is also expected to boost the overall growth of the recycled textiles market. However, increase in processing cost combined with low-quality job offerings hampers the recycled textiles market growth. Meanwhile, the development in recycling technologies is anticipated to provide growth opportunities for the recycled textile industry.

The recycled textiles market is segmented into type, end-user industry, and region. Depending on type, it is segmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. On the basis of end-user industry, it is divided into automotive, retail, mining, building & construction, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

Recycled Textiles Market, by Type 

Recycled polyester segment garnered the largest market share in 2019 owing to its properties such as durable, chemicals resistant, resistant to stretching, and easy to dye. While recycled nylon segment is expected to grow at the fastest rate during the forecast period owing to its properties such as high elasticity, high strength, high moisture regaining ability, and wrinkle-resistance. Moreover, recycling of nylon offers less energy consumption, waste water savings, and CO2 emission reduction benefits, which foster the demand for recycled nylon. 

Recycled Textiles Market, by End-user Industry

Retail segment dominated the market in 2019 owing to the proliferating demand for customized low-cost apparels. However, the automotive segment is expected to grow at the fastest rate during the forecast period. Increase in demand for cost-effective textiles from automotive industry. In addition, surge in penetration of recycled textiles in enhancing aesthetic appearance in automotive interiors is also one of contributing factors toward the segment’s growth.

Recycled Textiles Market, by Region

The recycled textiles market was dominated by Asia-Pacific. This is due to the demand for recycled textile products from emerging economies such as China, India, Australia, and South Korea in this region. North America is expected to grow fastest during the forecast period owing to presence of organizations that collects waste clothing and then either subjecting them to re-use or recycle. Moreover, growth in awareness among the government and consumers regarding harmful consequences have shifted the market inclination toward recycling the textiles acting as driving factor.

Source: www.alliedmarketresearch.com