Global Recycled Yarn Market Size By Source Material, By End-Use Industry, By Raw Material Source, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Recycled Yarn Market size was valued at USD 4.6 Billion in 2023 and is projected to reach USD 6.9 Billion by 2030, growing at a CAGR of 6.0% during the forecast period 2024-2030.
Global Recycled Yarn Market Drivers
The market drivers for the Recycled Yarn Market can be influenced by various factors. These may include
Environmental Concerns Growing awareness about environmental sustainability and the adverse impacts of textile production on the environment are driving the demand for recycled yarn. Consumers and businesses are increasingly seeking eco-friendly alternatives to traditional textiles.
Government Regulations and Policies Stringent regulations and policies aimed at reducing carbon footprint and promoting recycling initiatives are boosting the demand for recycled yarn. Governments may incentiv ize or mandate the use of recycled materials in textile production, driving manufacturers to invest in recycled yarn technologies.
Cost Efficiency Recycled yarn can offer cost advantages over virgin yarn, especially as the prices of raw materials fluctuate. Recycling reduces the need for extracting and processing raw materials, leading to potential cost savings for manufacturers.
Corporate Sustainability Initiatives Many companies across various industries are adopting sustainability goals and commitments. Using recycled yarn aligns with these initiatives, allowing companies to meet their environmental targets and enhance their corporate image.
Consumer Preferences There is a growing trend among consumers towards eco-friendly and sustainable products. As consumers become more conscious of their purchasing decisions, there is increasing demand for products made from recycled materials, including yarn.
Technological Advancements Advances in recycling technologies have improved the quality and availability of recycled yarn. Innovations in processing techniques and machinery have made it possible to produce high-quality recycled yarn that meets the performance standards of various
Supply Chain Resilience Using recycled yarn can enhance supply chain resilience by reducing dependence on virgin raw materials, which may be subject to supply chain disruptions or price volatility.
Global Recycled Yarn Market Restraints
Several factors can act as restraints or challenges for the Gift Packaging Market. These may include
Limited Raw Material Availability Depending on elements including material availability, collection infrastructure, and local recycling customs, the supply of appropriate materials for recycling into yarns may be scarce or erratic. This limitation may limit the market’s ability to grow for recycled yarn.
Variability in Quality Because recycled materials are processed differently and have different compositions, recycled yarns may display variations in both quality and performance. Their acceptance in certain applications and industries, especially those with strict performance requirements, may be limited by their inconsistent quality.
Increased Production Costs Compared to conventional yarn manufacturing, the production process for recycled yarns frequently entails extra steps like sorting, cleaning, and processing of recycled materials. These steps can raise production costs. Increased expenses could discourage producers and buyers from using recycled yarns, particularly in markets where prices are crucial.
Technological Restrictions The processing of specific materials or the achievement of desired yarn properties may be limited by the capabilities of current recycling technologies. To get around these restrictions and increase the variety of recyclable materials and yarn types, recycling technology advancements are required.
Customer Perception and Demand Depending on perceived sustainability, performance, and quality, consumers’ opinions of recycled goods—including yarns—can differ. Negative opinions or ignorance about recycled yarns may restrict consumer demand and the expansion of the market.
Global Recycled Yarn Market Segmentation Analysis
The Global Recycled Yarn Market is Segmented on the basis of Source Material, End-Use Industry, Raw Material Source, And Geography.
Recycled Yarn Market, By Source Material
PET Bottles Yarn recycled from post-consumer PET bottles.
Pre-consumer Waste Yarn recycled from pre-consumer waste materials like fabric scraps, production leftovers, etc.
Post-consumer Clothing Yarn recycled from discarded clothing and textiles.
Recycled Yarn Market, By End-Use Industry
Textiles Yarn used in the production of fabrics, garments, and other textile products.
Automotive Yarn used in automotive textiles such as seat covers, carpets, etc.
Home Textiles Yarn used in home furnishing textiles like upholstery, curtains, etc.
Industrial Applications Yarn used in various industrial applications like ropes, nets, etc.
Recycled Yarn Market, By Raw Material Source
PET Bottles Yarn derived from recycled PET bottles, often used in textiles and apparel manufacturing.
Pre-consumer Waste Yarn produced from manufacturing waste like fabric scraps, yarn waste, and cuttings.
Post-consumer Clothing Yarn obtained from discarded garments and textiles, usually sorted, cleaned, and processed for reuse.
Recycled Yarn Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Recycled Yarn Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Recycled Yarn Market are
Patagonia (US)
The North Face (US)
Everlane (US)
Fast fashion brands
H&M (Sweden)
Adidas (Germany)
Nike (US)
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Patagonia (US), The North Face (US), Everlane (US), Fast fashion brands, H&M (Sweden), Nike (US).
SEGMENTS COVERED
By Source Material, By End-Use Industry, By Raw Material Source, And By Geography.
CUSTOMIZATION SCOPE
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