Report : Europe Recycled Textile Market Forecast to 2027 - COVID-19 Impact and Analysis- By Type (Recycled Cotton, Recycled Wool, Recycled Polyester, Recycled Nylon, and Others), By End-user Industry (Automotive, Retail, Mining, and Others)
Retail Segment to Dominate Europe Recycled Textile Market during 2020–2027
According to a new market research study on “Europe Recycled Textile Market Forecast to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, and End- user Industry,” is expected to reach US$ 2313.16 million by 2027 from US$ 1432.21 million in 2019. The market is estimated to grow at a CAGR of 6.3% from 2020 to 2027. The report provides trends prevailing in the Europe recycled textile market along with the drivers and restraints pertaining to the market growth. Rapid development of the retail and automotive industry are the major factor driving the growth of the Europe recycled textile market. However, issues associated with the high manufacturing cost and lower quality of recycled textile hinder the growth of Europe recycled textile market.
The Europe market for recycled textile market is segmented into type, end-user industry, and country. Based on type, the market is segmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. In 2019, the recycled polyester segment held the largest share Europe recycled textile market. Based on end- user industry, the recycled textile market is divided into automotive, retail, mining, and others. Retail is expected to be the fastest growing segment over the forecast period.
In Europe, as per the recent data, Russia has recorded the highest number of COVID cases. Other than this, Spain, Germany, France and UK have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.
Khaloom Textile India Pvt. Ltd., Kishco Group, Anandi Enterprises, Hyosung Corporation, Leign Fibers Inc.,
Martex Fiber Southern Corporation, Renewcell AB, and Boer Group are among the leading companies in the Europe Recycled Textile market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in July, 2018 Renewcell AB partners with WarfoTex Development project that focusses on building solution for recycling of textiles.
The Report Segments the Europe Recycled Textile market as Follows:
Europe Recycled Textile Market – By Type
- Recycled Cotton
- Recycled Wool
- Recycled Polyester
- Recycled Nylon
- Others
Europe Recycled Textile Market – By End- user Industry
- Automotive
- Retail
- Mining
- Others
Europe Recycled Textile Market – By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
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