North America Recycled Textile Market is expected to reach US$ 2575.39 Mn by 2027

Recycled Polyester Segment to Dominate North America Recycled Textile Market during 2020–2027

According to The Insight Partners market research study on “North America Recycled Textile Market Forecast to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, and End- user Industry,” is expected to reach US$ 2575.39 million by 2027 from US$ 1559.00 million in 2019. The market is estimated to grow at a CAGR of 6.6% from 2020 to 2027. The report provides trends prevailing in the North America recycled textile market along with the drivers and restraints pertaining to the market growth. Rising concerns related to disposal of textile waste are the major factor driving the growth of the North America recycled textile market. However, issues associated with the high processing cost and lower quality of recycled textile hinder the growth of North America recycled textile market.

The North America market for recycled textile market is segmented into type, end-user industry, and country. Based on type, the market is segmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. In 2019, the recycled polyester segment held the largest share North America recycled textile market. 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.

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.

Kishco Group, Hyosung Corporation, Leign Fibers Inc, and Martex Fiber Southern Corporation are among the leading companies in the North America Recycled Textile market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in January, 2018 Leigh Fiber Inc. has announced signing a letter of intent to acquire JE Herndon Company, Kings Mountain, North California. The firm reprocesses textile fibers and byproducts primarily connected to the cotton industry. The acquisition complements the overall service and product offerings by adding to the capacity and geographic presence.

The Report Segments the North America Recycled Textile market as Follows:

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