Asia Pacific Recycled Textile Market Size, Share, and Analysis by 2027
Asia Pacific 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)
- Status : Published
- Report Code : TIPRE00017955
- Category : Chemicals and Materials
- No. of Pages : 113
- Available Report Formats :
- Last update date : February 05, 2021
2019 Market Size
US$ 1954.48 Mn
Base year value
2027 Forecast
US$ 3081.10 Mn
Projected by 2027
CAGR 2020-2027
6.0 %
Growth rate
Addressable Market
US$ 20,505.07 Mn
(2020-2027)
The recycled textile market in Asia Pacific is expected to grow from US$ 1954.48 million in 2019 to US$ 3081.10 million by 2027; it is estimated to grow at a CAGR of 6.0% from 2020 to 2027.
China, Japan, India, Australia, South Korea, and Rest of APAC are the major economies in Asia Pacific. Growing concerns regarding the disposal of textile waste will boost its demand in the market. The textile manufacturing mechanism is considered to be one of the chemical-intensive processes which generate a high volume of textile waste throughout its operations. The textile waste may be segregated into two groups, pre-consumer textile waste and post-consumer textile. The rise in amount of textile waste creates a burden on environment and generates the problem of effective disposal or incineration on existing landfills. According to an estimate, approximately 10–20% of all unused textile products are considered to be wasted. Further, the process of incineration emits organic substances such as heavy metals, dioxins, acidic gases and dust particles, which are considered as harmful to both humans and the environment. Also, the disposing of residual ash has also become a serious issue as it also contains a high concentration of toxic material. Hence, it is quite imperative to effectively manage of textile waste through reuse or recycling methods, which could promote environment sustainability. Under such situations, recycling of textile waste is considered to be a viable alternative, which helps to reduce burden on natural resource, minimizes the need for landfill space and helps in saving energy. Moreover, the stringent government legislations regulating the effective management of textile waste are potentially aimed to promote the use of textile recycling as a sustainable alternative to treat the impending problem related to waste. Thus all these factors are expected to positively impact its market growth.
The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the COVID-19 would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, India has the highest number of COVID -19 confirmed cases.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Considering these factors the Asia Pacific recycled textile market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Recycled textile Market Revenue and Forecast to 2027 (US$ Mn)
Asia Pacific Recycled textile Market Segmentation
Asia Pacific Recycled textile Market – By Type
- Recycled Cotton
- Recycled Wool
- Recycled Polyester
- Recycled Nylon
- Others
Asia Pacific Recycled textile Market – By End- user Industry
- Automotive
- Retail
- Mining
- Others
Asia Pacific Recycled textile Market, by Country
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Asia Pacific Recycled textile Market- Companies Mentioned
- Chindi
- Khaloom Textile India Pvt. Ltd.
- Kishco Group
- Usha Yarns Limited
- Anandi Enterprises
- Hyosung Corporation
- Leign Fibers Inc.
- Martex Fiber Southern Corporation
- Renewcell AB
- Boer Group
Asia Pacific Recycled Textile Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1954.48 Million |
| Market Size by 2027 | US$ 3081.10 Million |
| CAGR (2020 - 2027) | 6.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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