North America 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)

North America 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)   

Number of Pages: 58

Market Introduction

Recycled textiles are old, used fabrics or other unused textiles that can be recovered for reuse with the help of various recycling techniques. Recycling of textiles is done to treat textile waste and reuse the reclaimed fibre across diversified industrial base, which helps to save natural resources and contribute to environment sustainability. In current era, they have significantly contributed to the growth of the textile recycling industry. Today sustainability has become the need for modern times. Thus, the shift towards sustainability along with eco-friendly initiatives by manufacturers is expected to create a significant demand for recycled textile in the coming years, which is further anticipated to drive the recycled textile market.

Market Overview and Dynamics

The recycled textile market in North America is expected to grow from US$ 1559.00 million in 2019 to US$ 2575.39 million by 2027; it is estimated to grow at a CAGR of 6.6% from 2020 to 2027. Now-a-days, sustainability is considered to be at the forefront of major strategies, initiatives and planning in the textile industry. The importance of sustainability is not just understood from ecological point of view, but also from economical aspect. In the current era, every stage in textile industry starting, i.e. from fiber production to shipping is suitably aligned with the objective of sustainability as focal point. The increased focus over ecological balance has driven the concept of the sustainable development. The future of sustainable textile is based upon its ability to minimize the use of natural resources and mobilizing the concept of reusing and recycling of products to minimize overall waste. In the textile industry, the companies are heading towards adoption of an eco-friendly and sustainable production approach by investing in better R&D activities so as to optimize resource consumption and promote environmental benefits.  This is bolstering the growth of the recycled textile market.

The U.S has the highest number of confirmed cases of COVID-19, as, compared to Canada and Mexico. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.

Key Market Segments

In terms of type, the recycled polyester segment accounted for the largest share of the North America recycled textile market in 2019. 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.  

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the recycled textile market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Kishco Group, Hyosung Corporation, Leign Fibers Inc, and Martex Fiber Southern Corporation among others.

Reasons to buy report

• Understand the North America recycled textile market landscape and identify market segments that are likely to guarantee a strong return
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• Take knowledgeable business decisions from perceptive and comprehensive analysis of performance of various market segments
• Obtain revenue forecast for market based on various segments for the period 2020-2027

North   America Recycled Textile Market Segmentation

North America Recycled Textile Market- by Type

• Recycled Cotton
• Recycled Wool
• Recycled Polyester
• Recycled Nylon
• Others

North America Recycled Textile Market- by End- user Industry

• Automotive
• Retail
• Mining
• Others

North America Recycled Textile Market- by Country

• US
• Canada
• Mexico

Company Profiles

• Kishco Group
• Hyosung Corporation
• Leign Fibers Inc
• Martex Fiber Southern Corporation

Some of the leading companies are:-

1. Kishco Group
2. Hyosung Corporation
3. Leign Fibers Inc
4. Martex Fiber Southern Corporation

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