Global Recycle Yarn Market Size to Exceed USD 10.28 Billion by 2033 | CAGR of 8.09%
Category: Advanced MaterialsGlobal Recycle Yarn Market Size to Exceed USD 10.28 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Recycle Yarn Market Size is Expected to Grow from USD 4.72 Billion in 2023 to USD 10.28 Billion by 2033, at a CAGR of 8.09% during the forecast period 2023-2033.
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Browse key industry insights spread across 238 pages with 110 Market data tables and figures & charts from the report on the "Global Recycle Yarn Market Size, Share, and COVID-19 Impact Analysis, By Type (Recycled PET Yarn, Recycled Cotton Yarn), By Application (Carpet, Clothing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/recycle-yarn-market
The recycle yarn market manufactures and utilizes yarns made from recycled fibres, which might be post-consumer or post-industrial waste textiles. It lowers the negative influence that textile production has on the environment by recycling fibres that would otherwise wind up in landfills. Recycled yarns have a wide range of applications, including clothing, household textiles, and industrial textiles. Moreover, the recycled yarn market is being driven by rising consumer demand for sustainable and eco-friendly products, more textile waste, and an emphasis on a circular economy. Improvements in recycling technology enhance yarn quality and efficiency. Brand sustainability aims and government waste regulation rules encourage the use of recycled yarns, which drives growth. Environmental issues are also raising consumer awareness of the need for sustainable textile solutions. However, the constraints in this industry include greater processing costs, a scarcity of high-quality raw materials, and inconsistency in supply chains. Other problems include low customer perception of the quality and longevity of recycled yarn-based products, as well as a lack of mass recycling infrastructure.
The recycled PET yarn segment dominated the market in 2023 and is projected to grow at a CAGR during the projected timeframe.
Based on the type, the recycle yarn market is divided into recycled PET yarn, recycled cotton yarn. Among these, the recycled PET yarn segment dominated the market in 2023 and is projected to grow at a CAGR during the projected timeframe. The reasons are mostly due to the large usage of PET in the textile sector, the high amount of plastic waste, and customers' growing demand for environmentally friendly items. Recycled PET yarn is strong, versatile, and economical, making it ideal for a variety of uses.
The clothing segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the application, the recycle yarn market is divided into carpet, clothing. Among these, the clothing segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. Growing customer demand for sustainable fashion, as well as manufacturer adoption of greater sustainability criteria, are driving this trend. The increasing popularity of ecologically friendly or recycled content in clothes, particularly in apparel and activewear, is boosting the market growth.
Europe is anticipated to hold the majority share of the recycle yarn market over the predicted timeframe.
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Europe is anticipated to hold the majority share of the recycle yarn market over the predicted timeframe. The reason for this is the region's strong dedication to sustainability, harsh environmental constraints, and growing demand for eco-friendly products. European countries such as Germany, the United Kingdom, and France have been at the forefront of promoting recyclable materials in the textile sector.
North America is expected to grow at the fastest CAGR in the recycle yarn market during the forecast period. It is driven by rising consumer awareness of sustainability, strong demand for green products, and brand campaigns to integrate recycled materials. The United States and Canada have been pioneers in encouraging sustainable practices, which have been bolstered by government laws and an increasingly circular economy, hastening the usage of recycled yarn in textiles.
Major vendors in the global recycle yarn market are APM Industries Limited, Cixi Xingke Chemical Fiber Co., Ltd., Coats Group PLC, Ecological Textiles, Far Eastern New Century Corporation, Filature Du Parc, Hilaturas Ferre S.A., Jinjiang Xinglilai Yarns Co., Ltd., Martex Fiber, Pashupati Polytex Pvt. Ltd., Rajiv Group Pvt. Ltd., Sulochana Cotton Spinning Mills Pvt. Ltd., Unifi, Inc., and Others.
Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In September 2023, Indorama Ventures Public Co Ltd, based in Bangkok and majority-owned by Indians, invested USD 150 million in three PET recycling plants in India, with commercial production scheduled to begin in 2026.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global recycle yarn market based on the below-mentioned segments:
Global Recycle Yarn Market, By Type
- Recycled PET Yarn
- Recycled Cotton Yarn
Global Recycle Yarn Market, By Application
- Carpet
- Clothing
Global Recycle Yarn Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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