Reduced CO2 emissions and water & energy consumption and rise in awareness amongst consumers and manufacturers fuel the growth of the global recycled textiles market. Based on type, the recycled polyester segment held the major share in 2019. Based on region, on the other hand, Asia-Pacific garnered the major share in the same year.
According to the report published by Allied Market Research, the global recycled textiles market was pegged at $5.6 billion in 2019 and is expected to hit $7.6 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The recycled textiles market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the recycled textiles market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the recycled textiles market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The retail segment accounted for more than two-fifths of the total market share in 2019, and is projected to lead the trail by the end of 2027. The automotive segment, on the other hand, would portray the fastest CAGR of 5.7% from 2020 to 2027.
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Some ruling enterprises in the global recycled textiles market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global recycled textiles industry include Chindi, Kishco Group, Leigh Fibers Inc., Anandi Enterprises, Khaloom, Usha Yarns Ltd., Hyosung TNC Co. Ltd., Martex Fiber.
Asia-Pacific held the major share in 2019, generating more than one-third of the global recycled textiles market. Simultaneously, the market across North America would manifest the fastest CAGR of 4.1% from 2020 to 2027. The report also analyzes the market across North America and Europe.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the recycled textiles market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the recycled textiles market
- Post-sales support and free customization
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