According to the report “Textile Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global textile recycling market reached a value of around US$ 5 billion in 2020. The global textile recycling market is expected to exhibit moderate growth during the next five years.
Textile recycling refers to the method of reprocessing and reusing old clothing, scarps and fibrous waste materials. Generally, these materials are recovered from discarded clothes, carpets, furniture, tires, footwear and other non-durable goods, such as towels and sheets. Textile recycling offers several environmental and economic benefits, such as reducing land and water pollution, minimizing dependence on virgin fibers, curbing usage of chemical dyes, and optimum consumption of energy and water.
The increasing demand for recycled textile is primarily driven by the rising environmental concerns towards the detrimental impact of waste incineration, heavy industrial discharges from textile mills, and depletion of raw materials, such as silk and wool. The growing production of synthetic and polyester fabrics have also led to high emission levels of greenhouse gases, thereby fueling the need for recycled fabrics on a global level.