Textile recycling market Size, Share, Growth Analysis, By Material(Cotton, Polyester, Wool, Polyamide), By Sources(Apparel Waste, Home Furnishing Waste, Automotive Waste, and Other.), By Process(Mechanical and Chemical), By Region - Industry Forecast 2024-2031

As of 2022, Europe emerged as the leading region in the textile recycling industry. The European market is expected to experience substantial growth in the coming years, supported by government initiatives and increasing focus on recycling efforts. The Waste and Resources Action Program (WRAP), operational across Europe with the UK's registration and collaboration with local governments and private firms, plays a crucial role in promoting textile waste recycling in the region.

In Europe, countries like Germany, Italy, France, Belgium, the Czech Republic, and Poland are major players in the recycled apparel market. Italy, in particular, stands out as a prominent hub for textile recycling, with Prato being recognized as the capital of textile recycling. The Italian Textile and Recycling Association in Prato has brought together over a hundred companies involved in collecting old rugs and clothes from around the world and converting them into yarn.

The Asia Pacific region is projected to register a Compound Annual Growth Rate (CAGR) over the forecast period. The growing concerns about the environmental impact of textile waste, coupled with government initiatives for textile waste management and the development of innovative recycling technologies, are expected to drive the demand for textile recycling activities in this region.

Central & South America is also witnessing an increase in textile consumption and waste generation due to a surge in consumer spending on goods and services. This has led to a rising demand for sustainable textile waste management solutions and a greater requirement for textile recycling activities in the region.