Market Size of Textile Waste Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Textile Waste Management Market Analysis
The Textile Waste Management Market is expected to register a CAGR of over 3% during the forecast period.
- The textile recycling market is expected to grow because people are becoming more aware of recycling and because they care more about the environment.Furthermore, the COVID-19 pandemic had a detrimental influence on worldwide market growth. The textile recycling industry is facing a setback due to constraints and impediments to executing the pre-recycling process.
- As a result, garments and textiles are stacked up in warehouses, slowing market development. Various initiatives and start-ups are gaining traction in the United States, contributing considerably to the rising rate of textile recycling. ATRS (American Textile Recycling Services) is the donation bin operator for clothes, footwear, and household items donation and collection services. ARTS is constantly extending to new locations around the country, accelerating the expansion of recycling.
- Furthermore, advancements in recycling procedures and new research in the industry are expected to aid market expansion. For example, at the International Conference on Cellulose Fibers in February 2022, LIST Technology AG presented an all-recycled lyocell t-shirt as a major step forward in the textile recycling business. The restricted availability and accessibility of sufficient recyclable material severely limits market expansion. Most of the time, the fabric material is combined, making the sorting procedure and subsequent recycling difficult. Additionally, informal vendors carry out the collecting and sorting process in less developed countries, which has an impact on the overall recycling rate and market expansion.
