Textile Recycling Industry in India | Market Size to reach US$ 375.0 Million by 2028, CAGR of 3.4%

The India textile recycling market size reach US$ 375.0 Million by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.

NY 11249, BROOKLYN, USA, February 22, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “India Textile Recycling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The India textile recycling market size reached US$ 308.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 375.0 Million by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.

Market Overview:

Textile recycling represents the method of reusing and reprocessing old clothing, scraps, fibrous waste materials, etc. The most common sources of these materials are discarded clothes, carpets, tires, furniture, footwear, and other non-durable goods, such as sheets and towels. Textile recycling offers numerous environmental and economic benefits, including reducing land and water pollution levels, curbing usage of chemical dyes, minimizing dependence on virgin fibers, optimum consumption of energy, etc. Consequently, it finds extensive applications in several industries, such as retail, automotive, mining, construction, etc., across India.

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India Textile Recycling Market Trends and Drivers:

The emerging trend of sustainable fashion and the escalating demand for clothes with greater ecological integrity, on account of the increasing consumer awareness towards the detrimental effects of producing new apparel on the environment, is among the key factors stimulating the India textile recycling market. Additionally, the inflating popularity of eco-clothes made of plastics, recycled textiles, and other organic raw materials that aid in minimizing landfill spaces and waste incineration is further catalyzing the market growth.

Besides this, government bodies and non-government organizations (NGOs) are launching door-to-door clothes pickup programs and installing collection bins in public places, such as parking spaces, parks, shopping malls, etc., which is acting as another significant growth-inducing factor. Moreover, the rising number of textile waste and continuous improvements in recycling techniques are propelling the market growth. Apart from this, various technological advancements and the growing penetration of automation in textile recycling processes are also bolstering the market growth across the country. Furthermore, extensive R&D activities by leading manufacturers are anticipated to fuel the India textile recycling market over the forecasted period.

India Textile Recycling Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

The report has segmented the market on the basis on region, product type, textile waste, distribution channel and end use.

Breakup by Product Type:

Cotton Recycling
Wool Recycling
Polyester & Polyester Fibre Recycling
Nylon & Nylon Fibre Recycling
Others

Breakup by Textile Waste:

Pre-consumer Textile
Post-consumer Textile

Breakup by Distribution Channel:

Online Channel
Retail & Departmental Stores

Breakup by End Use:

Apparel
Industrial
Home Furnishings
Non-woven
Others

Breakup by Region:

North India
West and Central India
South India
East India

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Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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