South Korea Textile Recycling Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 4.75% from 2023 to 2033
• The South Korea Textile Recycling Market Size is Expected to Hold a Significant Share by 2033

The South Korea Textile Recycling Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a CAGR of 4.75% from 2023 to 2033.

Market Overview

Textile recycling involves gathering and handling used textiles like clothing, fabrics, and other textile items, in order to transform them into new materials or products. It includes mechanical actions such as shredding or cutting textiles into smaller pieces or chemical actions to break down fibers and eliminate impurities. It includes a variety of materials like cotton, polyester, wool, and mixtures. Increasing public awareness in South Korea regarding environmental concerns, advancements in textile recycling technologies, and the incorporation of technology like IoT-enabled clothing tracking and smart textiles are key factors boosting the market. Moreover, various South Korean corporations and local governments are establishing goals to decrease textile waste and promote recycling initiatives. Additionally, the country's government body is implementing various rules and measures to encourage recycling and reduce waste, establishing a positive setting for textile recycling projects.

Report Coverage

This research report categorizes the market for South Korea textile recycling market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea textile recycling market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the South Korea textile recycling market.

Driving Factors

The production and use of textiles have notable environmental, climate, and social effects because of the use of resources (such as water, land, and chemicals), and the release of greenhouse gases, and pollutants. Different kinds of greenhouse gases are released when textile products are produced, manufactured, and transported. Moreover, ongoing advancements in textile recycling technologies are enhancing the efficiency and affordability of the process. Additionally, the increasing partnerships among textile producers, recyclers, and fashion labels are promoting a more sustainable textile environment.

Restraining Factors

Fast fashion involves producing large quantities of affordable clothing in line with current trends and stylish designs. It has become popular recently because of its inexpensive production and abundant workforce. Fast fashion is said to have negative effects on the environment and is considered unethical in terms of production.

Market Segment

The South Korea textile recycling market share is classified into product type and textile waste.

• The polyester & polyester fiber recycling segment is expected to hold the largest market share through the forecast period.

The South Korea textile recycling market is segmented by product type into cotton recycling, wool recycling, polyester & polyester fiber recycling, nylon & nylon fiber recycling, and others. Among these, the polyester & polyester fiber recycling segment is expected to hold the largest market share through the forecast period. The most commonly produced polymer is polyester fiber. It is the preferred choice for making clothing because it is sensitive to heat, very resistant to stains, and simple to clean. Because of increasing demand from the clothing industry, the utilization of recycled polyester in garments is growing.

• The post-consumer textile segment is expected to hold the largest market share through the forecast period.

The South Korea textile recycling market is segmented by textile waste into pre-consumer textiles and post-consumer textiles. Among these, the post-consumer textile segment is expected to hold the largest market share through the forecast period. Post-consumer textile waste includes clothes that are damaged, discarded, worn-out, and out-of-fashion. Any clothing that a consumer throws away is classified as post-consumer textile waste. Due to constantly shifting fashion trends and increasing demands, textile waste has emerged as a significant worry and danger for future generations. Landfills are filled with heaps of unwanted, discarded clothing.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea textile recycling market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hyosung Corporation
• Samsung C&T
• Korea Textile Recycling Cooperative (KTRC)
• Seoul Recycling
• Eco-Fabric
• Lotte Chemical
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In October 2023, Hyosung introduced eco-friendly textile innovation for improving denim using bio-based, recycled, and recyclable materials.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea textile recycling market based on the below-mentioned segments

South Korea Textile Recycling Market, By Product Type

• Cotton Recycling
• Wool Recycling
• Polyester & Polyester Fiber Recycling
• Nylon & Nylon Fiber Recycling
• Others

South Korea Textile Recycling Market, By Textile Waste

• Pre-consumer Textile
• Post-consumer Textile