Recycled Textile Market Expected to Show Significant Growth till 2026 Owing to Boom in the Automotive industry

Recycled Textile Market

Recycled Textile Market

Reduction of carbon dioxide emissions, less water & energy consumption, and increase in awareness among manufacturers and consumers drive the growth.

PORTLAND, OREGON, UNITED STATES, October 1, 2020 /EINPresswire.com/ — Reduction of carbon dioxide emissions, less water & energy consumption, and increase in awareness among manufacturers and consumers drive the growth of the global recycled textile market. Contrarily, high processing cost and low quality hinder the market growth. On the other hand, technological advancements related to the recycling processes open new opportunities in coming years.

According to the report, the global recycled textile industry generated $5.3 billion in 2018, and is expected to garner $8.0 billion by 2026, witnessing a CAGR of 5.2% from 2019 to 2026.

Download Sample Report with Detailed COVID-19 Impact Analysis @ https://www.alliedmarketresearch.com/request-sample/6101

The recycled nylon segment to register the highest growth rate:
Based on type, the recycled nylon segment is expected to witness the largest CAGR of 5.7% from 2019 to 2026, owing to its properties including high strength, high moisture regaining capability, high elasticity, and wrinkle-resistance. However, the recycled polyester segment contributed to the highest market share in 2018, holding nearly half of the global recycled textile market, and is expected to contribute its dominant share during the forecast period. This is due to its characteristics including durability, chemical resistance, and ease in dying.

The retail segment to maintain its lead position during the forecast period:
Based on end-user industry, the retail segment held more than two-fifths of the global recycled textile market in terms of revenue in 2018, and is estimated to maintain its lead position during the forecast period. This is due to the surge in demand for customized low-cost apparels. Contrarily, the automotive segment is expected to witness the highest CAGR of 5.7% from 2019 to 2026, owing to surge in penetration of recycled textiles to improve aesthetic appearance of interiors of vehicles.

North America to grow at the fastest CAGR:
Based on region, North America is estimated to witness the largest CAGR of 5.8% from 2019 to 2026. This is attributed to organizations active in collection of waste clothing and re-using or recycling them. However, Asia-Pacific held the highest market share in terms of revenue in 2018, accounting for more than one-third of the global recycled textile market, and is expected to maintain its lead status during the forecast period. This is due to demand for recycled textile products from developing nations such as India, South Korea, and Australia.

Interested in Procuring this Report? visit: https://www.alliedmarketresearch.com/recycle-textile-market/purchase-options

Leading Market Players:

• Khaloom
• Anandi Enterprises
• Chindi
• Kishco Group
• Renewcell AB
• Usha Yarns Ltd.
• Martex Fiber
• Hyosung TNC Co. Ltd.
• Leigh Fibers Inc.
• Otto Garne

Similar Reports:

Technical Textile Market is projected to reach $274.1 Billion by 2027
Thermochromic Pigments Market is projected to reach $595.0 Million by 2027

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Tushar Rajput
Allied Analytics LLP
+91 9021091709
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn


Source: EIN Presswire