Global Textile Recycling Market size is anticipated to garner significant gains through 2032. This can be attributed to the accelerating transition of fast fashion brands such as H&M, Patagonia, and others towards sustainability. In fact, H&M, a prominent fashion giant, has initiated a Garment Collecting Program for recycling the textiles of worn and used clothes. Likewise, Patagonia, an outdoor clothing brand, recently came up with a Worn Wear program to trade in and buy used gear.
The overall textile recycling market is divided based on technology, material, waste, end-use, source, and region.
Based on technology, the textile recycling industry size from the chemical recycling segment is slated to attain substantial gains through 2032. Chemical recycling technology is becoming popular among recycling firms, given its ability to retain the physical properties of textiles. Innovations in such technologies have made it easier to recycle even blended-fiber garments. Growing efforts by industry giants such as Lenzing AG, Birla Cellulose, and others towards developing improved chemical recycling technologies are contributing to segment expansion.
In terms of material, the textile recycling market size from the cotton segment is poised to record over USD 1.5 billion by 2032. Rising popularity of sustainable cotton production methods in developing countries will complement segment growth. Governments across these economies are investing ample amounts in initiatives for promoting sustainable cotton production. One such initiative is ’Sustainability and Value Added in the Cotton Economy’ of India which emphasizes sustainable cotton production.
Based on end use, the textile recycling industry size from the automotive & transportation segment is anticipated to record an appreciable valuation by 2032. Recycled textiles find huge applications in designing door liners, seat covers, safety belts, carpets, airbags, and other components in passenger cars. Rising demand for passenger cars is expected to increase the product uptake. As per the European Automobile Manufacturers’ Association, in the first month of 2023, the EU passenger car industry grew by 11.3%, creating favorable prospects for market growth.
Europe textile recycling market share is expected to grow at over 5% CAGR from 2023 to 2032. Growing awareness among consumers and companies about sustainability and increasing efforts toward reducing textile waste will positively influence regional market growth. Initiatives, such as the European Green Deal, undertaken by the EU government to achieve climate neutrality also support textile recycling activities in the region. Moreover, Europe has a strong presence of textile recycling industry players such as Lenzing AG, and others focusing on product innovations, which will favor market dynamics in the long run.