Recycled Fibers Market - Forecast(2024 - 2030)

Report Code: CMR 1455 Report Format: PDF + Excel

Recycled Fibers Market Overview

Global Recycled Fibers Market size is forecast to reach US$12.1 billion by 2027, after growing at a CAGR of 7.7% during 2022-2027. Recycling refers to the separation of a product into its raw material that will be remanufactured and used in a new product. Recycled fibers refer to the fibrous materials which are manufactured from various used materials. These recycled fibers are usually made up of polyester, nylon, polypropylene, polyethylene, and others. The global market for recycled fiber is driven primarily by increasing demand for these fibers in the textile industry. Increasing the volume of after-consumer waste, gaining popularity for sustainable fibers, and increasing government efforts to curb consumer plastic waste are expected to drive the global recycled fibers market.

COVID-19 Impact

The recycled fibers market witnessed a decline in 2020 due to ongoing COVID 19. During the pandemic, many regions imposed social distancing and closure practices, which led to an impact on the global market. The global pandemic has affected demand, production, services, investors, and many others due to a lack of employees and access to transportation.

According to Trade statistics for international business development, the total value of polyester fibers exported was around US$ 4.8 billion in 2019 which as decreased to US$ 3.7 billion in 2020. The decline in consumption of polyester implies the demand for textiles which will negatively affect the market for recycled fiber products. The recycled fibers market had a negative impact in 2020. However, the continued efforts of key players have helped the global market recover slowly from the pandemic. On that note, the global market predicts that it will register positive growth in the coming years.

Report Coverage

The: “Recycled Fibers Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the global recycled fiber industry.

By Material Type: [Synthetic (Polyesters, Nylon, Acrylic, Polypropylene Terephthalate (PET), High-density Polyethylene (HDPE), Carbon Fiber, and Others), Natural (Cotton, Cellulosic, Wood, Wood Pulp, Mineral Fibers, and Others)].
By Product Type: Chopper Fibers, Miller Fibers, Mat Fibers, Thread Fibers, And Others
By Application: Bedding & Cushioning, Decor & Furnishing, Textile Apparel Clothing, Acoustic Insulation, Carding & Spinning, Industrial Mixing, and Others.
By End-use Industry: Automotives (Foot Carpets, Seating Cushions, Safety Belts, and Others), Aerospace & Defence, Marine, Cement & Concrete Mixing [Residential(Independent Homes, Row Homes, Large Apartment Buildings, and Others), Commercial (Hospitals and Healthcare Infrastructure, Educational Institutes, Hotels and Restaurants, Auditorium and Art Infrastructure, Banks and Financial Institutions, Airports, Shopping Malls, and Others)], Textile & Apparel Industry (Fashion Clothing, Sports Clothing, Footwear, Artificial Jewelry, and Others), Healthcare Industry (Surgical Clothing, Surgical Beds, and Others), Home Furnishing (Pillows, Carpets, Bedspreads, Curtains, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

  • The global recycled fibers market is expected to grow at a faster growth rate owing to high awareness regarding recycled fibers and their advantages in various industry verticals.
  • Covid-19 has significantly affected the market growth owing to reduced raw materials, pause in manufacturing and shortage of labor.
  • The Asia Pacific held the largest share due to the higher number of textile industries, fast-growing end-use industries, and global players expanding their presence in the region.

Figure: APAC Recycled Fibers Market Revenue, 2021-2027 (US$ Billion)

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Recycled Fibers Market Segment Analysis – By Application

Bedding and cushioning held the largest share in the global recycled fibers market in 2021 and are expected to grow at a CAGR of 6.1% during the forecast period. Recycled fibers are majorly used for bedding and cushioning in-home types of furniture, commercial furniture, Seatings of automotives, and aircraft. Recycled fibers are relatively cheaper, sustainable, and environmentally friendly. The use of recycled fibers will increase the brand value of the end-products as it is sustainable and environmentally friendlyThe increased consumption of textiles, home decors, and furniture will accelerate the demand for recycled fibers. According to the Ministry of Economy, Trade and Industry of Japan, the total production value of sofa furniture was around 0.221 million units in 2018 and has increased to 0.234 million units in 2019. Also, according to the Bureau of Labor Statistics, the average annual expenditure on outdoor furniture per consumer unit in the United States, average annual expenditure on outdoor furniture per consumer unit in the United States was around US$28.47 in 2019 and has increased to US$46.89 in 2020. The surge in average expenditure to buy the furniture will positively drive the market for recycled fibers in the bedding and cushioning market in the forecasted period.

Recycled Fibers Market Segment Analysis – By End-use Industry

The textile & apparel segment held the largest share of around 35% in the global recycled fibers market in 2021 and is expected to grow at a CAGR of 6.5% during the forecast period. Recycled fiber is majorly used in the textile & apparel industry as fibers are the most important raw material to produce the cloths. The textile & apparel segment has played a major role in the recycled fibers market over the years due to its eco-friendly nature, durability, strength, non-abrasive materials, wear resistance, high durability, and the durable materials provided by recycled fiber in textiles. According to the Chemical Fiber Industry in the Federal Republic of Germany, the global production volume of textile fibers was around 105.6 million metric tons in 2018 which has increased to 108.3 million metric tons in 2020 The increased production of textile fibers depicts the demand for textile products that require recycled fibers. Recycled polyester fiber is used in many forms of carbon fiber, single or bonded with fabrics such as cotton, nylon, and wool. Recycled acrylic fiber is used for non-combustible materials, cut protection, and defence equipment. Recycled nylon is a fiber used in duplicate silk and others. Also, recycled mineral fiber can be made strong without interfering with movement. The high profitableness of recycled fiber in the textile industry owing to various factors is expected to drive the market in the forecasted period.

Recycled Fibers Market Segment Analysis – By Geography

The Asia Pacific has dominated the market in terms of revenue by 2021. In terms of revenue, the region held the largest share of more than 35% in the global recycled market in 2021, owing to fast-growing end-use industries in recent years. The rising production capacity of textiles and apparel and lower wages are expected to boost the market in the Asia Pacific. China holds the largest market share in the Asia Pacific. According to the National Bureau of Statistics of China, the total monthly textile production in China was 4.99 billion meters in January 2021, which has increased to 5.7 billion meters in January 2022. Increased production textiles will require recycled fibers to apply during the production process. This has a major positive effect on the global recycled fibers market. However, the market in North America and Europe is also expected to grow rapidly, as the market faces waste disposal problems. Also, continuous technological advances and the introduction of new products are estimated to increase the need for recycled fibers in regions over the years. Markets in Latin America and the Middle East and Africa are likely to grow at a slower pace during the forecasted period.

Recycled Fibers Market Drivers

Increased Demand for Recycled Products

Increased demand for environmentally friendly, sustainable, and recycled fiber products is one of the major driving factors boosting the global recycled fibers market value. Increasing population growth and a rising shortage of resources are driving the market for recycled fiber. The recycling industry considers these factors and works on recycled fibers, fabric recycling to textiles, and end-of-life solutions to minimize environmental impact. This is driving the market for recycled fibers. Additionally, governments around the world are taking steps to recommend the use of recycled products to avoid the environmental impact of improper waste disposal. According to the Textile Authority of the United States, the total recycled polyester fiber as a share of the total production of polyester fibers has increased from12.6% in 2018 to 15.3% in 2020. Additionally, consumer demand has changed from conventional textiles to recycled textiles. Increased penetration of recycled polyester fibers in the textile industry coupled with changes in consumer preferences towards sustainable and recycled textile products, furniture, and cushion materials is expected to drive the market for recycled fibers market in the forecasted period.

Expanding Demand from Home Furnishing Industry

Home decor and furnishing are one of the major consumers of recycled fiber products for bedding and cushioning applications. The growing demand for home furniture especially in developing countries such as India is one of the major factors driving the market. Increased urbanization, the number of households, and increased disposable income are boosting the market for furniture indirectly. According to the National Statistical Office of Thailand, the total household expenditure in Thailand on home furniture was around 21.2% in 2018 and has increased to 23.5% in 2019. Moreover, North America, and Europe being among the most affordable regions have also captured the market potential. According to US Census Bureau, the total furniture and home furnishings store sales in the United States was around US$ 115.31 billion in 2017 and have increased to US$ 120.65 billion in 2019. The increased sales for the home furnisher industry is expected to drive the market growth for recycled fiber globally.

Recycled Fibers Market Challenges

Decreased Recycling of Textiles

Recycled fibers are manufactured from used materials obtained from disposed textiles. Hence disposal and recycling of textiles play a major role in the production of recycled fibers.

According to the Environmental Protection Agency of the United States, the total recycled textiles have decreased from 2.57 million tons in 2017 to 2.51 tons in 2018. Moreover, stringent government regulations to manufacture and dispose of various polymers including recycled fiber products are among the major restraint that backfoot the global recycled fibers market. In addition, the lack of equipment to recycle the waste and manufacture the recycled fibers is also a barrier for small and medium-sized firms.

However, the continued efforts of key players have helped the global market to keep pace over the years. Therefore, many key players are involved in combating the challenges and improving the market demand for recycled fiber globally during the forecast period.

Recycled Fibers Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Global Recycled Fibers Market. Global Recycled Fibers Market top 10 companies are:

  1. Leigh Fibers Inc.
  2. Indorama Ventures
  3. Polyfibre Industries Pvt Ltd.
  4. Poole Company, Inc.
  5. RSWM Ltd.
  6. Unifi, Inc.
  7. ZOLTEK Corporation
  8. ELG Carbon Fiber Ltd
  9. Carbon Fiber Recycling
  10. SGL Carbon

Recent Developments

  • In July 2021, Leigh Fibers has partnered with Tidal Vision. Inc based in Washington and launched a new product called Tidal-Tex. The product is biodegradable, non-toxic, and eco-friendly.
  • In June 2021, Indorama Ventures has invested to expand the production capacities in Nagpur of India. The production capacity is capable of producing the double current production plant based in Bangkok.
  • In December 2021, RSWM Ltd. has expanded its new production capacity in Rajasthan of India to produce about 7,00,000 meters per month additionally to its already existing capacity of 21,00,000 meters per month.

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1. Recycled Fibers Market- Market Overview
    1.1 Definitions and Scope
2. Recycled Fibers Market - Executive Summary
    2.1 Key Trends by Material Type
    2.2 Key Trends by Product Type
    2.3 Key Trends by Application
    2.4 Key Trends by End-use Industry
    2.5 Key Trends by Geography
3. Recycled Fibers Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Recycled Fibers Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Recycled Fibers Market – Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Recycled Fibers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 The threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Recycled Fibers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Recycled Fibers Market – By Material Type (Market Size -US$ Million/Billion)
    8.1 Synthetic
        8.1.1 Polyesters
        8.1.2 Nylon
        8.1.3 Acrylic
        8.1.4 Polypropylene
        8.1.5 Polyamide
        8.1.6 Acetate
        8.1.7 Rayon Viscose
        8.1.8 Polyethylene Terephthalate (PET)
        8.1.9 High-density Polyethylene (HDPE)
        8.1.10 Carbon Fiber
        8.1.11 Others
    8.2 Natural
        8.2.1 Cotton
        8.2.2 Cellulosic
        8.2.3 Wool
        8.2.4 Wood Pulp
        8.2.5 Mineral Fibers
        8.2.6 Others
    8.3 Others
9. Recycled Fibers Market – By Product Type (Market Size -US$ Million/Billion)
    9.1 Chopped Fibers
    9.2 Milled Fibers
    9.3 Mat Fibers
    9.4 Thread Fibers
    9.5 Others
10. Recycled Fibers Market – By Application (Market Size -US$ Million/Billion)
    10.1 Bedding & Cushioning
    10.2 Decor & Furnishing
    10.3 Textile & Apparel Clothing
    10.4 Acoustic Insulation
    10.5 Carding & Spinning
    10.6 Industrial Mixing
    10.7 Others
11. Recycled Fibers Market – By End-use Industry (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Foot Carpets
        11.1.2 Seating Cushions
        11.1.3 Safety Belts
        11.1.4 Others
    11.2 Aerospace & Defence
    11.3 Marine
    11.4 Cement and Concrete Mixing
        11.4.1 Residential
   Independent Homes
   Row Homes
   Large Apartment Buildings
        11.4.2 Commercial
   Hospitals and Healthcare Infrastructure
   Educational Institutes
   Hotels and Restaurants
   Auditoriums and Art Infrastructures
   Banks and Financial Institutions
   Shopping Malls
        11.4.3 Textile & Apparel Industry
   Fashion Clothing
   Sport Clothing
   Artificial Jewellery
    11.5 Healthcare Industry
   Surgical Clothing
   Surgical Beds
    11.6 Home Furnishing
    11.7 Others
12. Recycled Fibers Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
12.5 Rest of the World
    12.5.1 Middle East
    12.5.2 Africa
13. Recycled Fibers Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Recycled Fibers Market – Industry/Competition Segment Analysis Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Recycled Fibers Market – Key Company List by Country Premium Premium
16. Recycled Fibers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best-effort basis for private companies*"