The recycled textile market in Europe is expected to grow from US$ 1432.21 million in 2019 to US$ 2313.16 million by 2027; it is estimated to grow at a CAGR of 6.3% from 2020 to 2027.
Rapid development of the retail and automotive industry will surge the demand of recycled textiles in the market. Textile and apparel retail industries are considered to be one of the fastest-growing industries, which significantly contribute to the economic growth. The move toward worldwide retailing or remote shopping has driven the growth of fashion, textiles, and apparel industries, enabling customers to purchase textile products of their choice. For instance, since last 15 years, the production of clothing for retail purposes is attributed to a shift in consumer lifestyle coupled with increase in disposable income and rise in per capita sales in developing and developed economies. Further, the rise in foreign direct investments by leading manufacturers across emerging economies is also stipulating the demand for better quality textile products. Such factors have resulted in the growth of retail industry in clothing and textile sector, which generates ample amount of textile wastes; thereby, generating the demand for recycling of textile. Apart from clothing and apparel industries, automotive industry is also expected to positively influence the demand for recycled textile. The growth of the automotive industry along with increased focus toward aesthetics of passenger vehicle and increased consumer spending toward vehicle appeal are altogether generating the demand for automotive textile products such as seat belt, nylon tyre cord, upholstery, car seat and body covers, automotive carpets, sunvisors/sunblinds, and airbags. It has led to increased amount of automotive textile waste, which needs a process of recycling. Increasing concerns related to disposal of textile waste is among the other factors expected to boost the demand for textile recycling during the forecast period.
Based on end-user industry, the retail segment led the Europe recycled textile market in 2019. The worldwide production of apparel and textile fibers has increased, owing to the tremendous rise in the worldwide population. This results in the generation of a high amount of textile wastes. In order to ensure sustainability and reduce the environmental impact, the textile and retail sectors have resorted to the recycling of textiles, which is a method of reusing and reprocessing used clothing, fibrous material, and clothing scraps from the manufacturing processes. Unwearable textiles are treated as damaged textiles and are processed in the factories as rags. The rags are collected and sent to the flocking and wiping industries. Other materials are sent for the purpose of fiber reclamation and stuffing. The fabrics from old fabrics are reclaimed and used for making new garments and products such as bags, scarfs, and carpets. The threads from the fabric are pulled out and used for reweaving new garments and fabrics. Thus all these factors are expected to positively influence the market growth.
In Europe, as per the recent data, Russia has recorded the highest number of COVID cases. Other than this, Spain, Germany, France and the 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 negatively impact market growth in Europe.
The overall Europe recycled textile market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe recycled textile market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe recycled textile market. A few players operating in the market are Khaloom Textile India Pvt. Ltd., Kishco Group, Anandi Enterprises, Hyosung Corporation, Leign Fibers Inc., Martex Fiber Southern Corporation, Renewcell AB, and Boer Group.