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

Textile Recycling Market size was valued at USD 5.73 billion in 2021 and is poised to grow from USD 6.10 billion in 2022 to USD 11.33 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).

The textile recycling market is expected to witness significant growth due to rising environmental concerns about textile waste production and increasing social awareness about textile recycling. According to the Environmental Protection Agency (EPA), textile waste occupies 5% of landfill space in the U.S., with the country producing around 25 billion pounds of textiles annually. These factors are driving the demand for textile recycling as it offers environmental sustainability and minimizes the environmental impact compared to incineration and landfill disposal. Upcycling, a recycling approach that conserves resources and reduces environmental impact, further boosts the market growth.

The textile industry in the U.S. is one of the largest producers of textile-related products globally, leading to substantial waste generation. Citizens discard approximately 70 pounds of textiles annually, creating a need for effective waste management solutions. Textile recycling is gaining traction as a solution to address textile waste management and promote a circular economy. The increasing population and consumer spending capacity contribute to the growing textile waste concerns, prompting government authorities and private firms to adopt textile recycling practices. According to the U.S. Environmental Protection Agency Report 2022, the recycling rate of all textiles in the country was 14.7% in 2018. The push for improved recycling rates is expected to drive further growth in the textile recycling market.

US Textile Recycling Market is poised to grow at a sustainable CAGR for the next forecast year.