Asia Pacific Textile Recycling Market to Reach US$ 2.2 Billion by 2032, Propelled by the Rising Environmental Concerns

November 14, 2022 | Retail

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The latest report by IMARC, titled “Asia Pacific Textile Recycling Market Report by Product Type (Cotton Recycling, Wool Recycling, Polyester & Polyester Fibre Recycling, Nylon & Nylon Fibre Recycling, and Others), Textile Waste (Pre-consumer Textile, Post-consumer Textile), Distribution Channel (Online Channel, Retail & Departmental Stores), End Use (Apparel, Industrial, Home Furnishings, Non-woven, and Others), and Country 2024-2032”, finds that the Asia Pacific textile recycling market size reached US$ 1.8 Billion in 2023. Textile recycling refers to the procedure of reusing and reprocessing old craps, clothing, and fibrous waste materials. Usually, these materials are recovered from tires, furniture, carpets, clothes, footwear, and other non-durable goods, including sheets and towels. In recent years, textile recycling has gained popularity across the Asia Pacific region due to its extensive adoption in numerous end-use industries, such as home furnishings, apparel, and other industrial sectors, including automotive, retail, mining, construction, and building.

Asia Pacific Textile Recycling Market Trends:

Textile recycling offers various environmental benefits, such as reducing dependence on virgin fibers, minimizing land and water pollution, curbing utilization of chemical dyes, and optimum energy and water consumption. As a result, with the rising environmental concerns among individuals, there has been a significant shift in the consumers’ preferences toward recycled textiles in the Asia Pacific region. Other than this, the increasing production of polyester and synthetic fabrics is resulting in high emission levels of greenhouse gases, consequently escalating the need for recycled fabrics across the region. Besides this, the rising number of collection bins for cloth storage, along with the growing awareness about the importance of recycling old clothes, is creating a positive market outlook. In line with this, key players are undertaking various informative initiatives for picking up post-consumer clothing materials by installing cloth bins in public areas, including parks, shopping malls, parking spaces, walkaways, and other high-visibility locations. Furthermore, various technological innovations and the increasing penetration of automation in the recycled textile industry are propelling the market growth. Moreover, the introduction of eco-clothes that are produced from recycled plastics, textiles, and other organic raw materials assists in waste reduction and leads to minimal landfill space and low dependency on virgin resources, including wool and cotton. On account of these factors, IMARC Group expects the market value to reach US$ 2.2 Billion by 2032, expanding at a CAGR of 2.6% during the forecast period (2024-2032).

Market Summary:

Based on the product type, the market has been divided into cotton, wool, polyester and polyester fibre, nylon and nylon fibre, and other recycling.
On the basis of the textile waste, the market has been bifurcated into pre-consumer and post-consumer textile.
Based on the distribution channel, the market has been segmented into online channel, and retail and departmental stores.
On the basis of the end use, the market has been segregated into apparel, industrial, home furnishings, non-woven, and others.
Region-wise, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others.
The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Textile Waste, Distribution Channel, End Use, Country
Countries Covered	China, Japan, India, South Korea, Australia, Indonesia, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Asia Pacific Textile Recycling Market to Reach US$ 2.2 Billion by 2032, Propelled by the Rising Environmental Concerns

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