Textile Industry Waste Management Market to increase by USD 2.07 billion during 2022-2027 | Increasing awareness about sustainability and environmental protection to drive the growth - Technavio

NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The textile industry waste management market size is expected to grow by USD 2.07 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 12% during the forecast period. The market is segmented by application (wastewater treatment equipment and water purifier), service type (landfill, open dumping, incineration, recycling, and composting and anaerobic digestion), and geography ( APAC, North America, Europe, Middle East, and Africa, and South America). The increasing awareness about sustainability and environmental protection drives the textile industry waste management market. The growing adoption of sustainable materials across textile industries such as organic cotton, recycled polyester, and bamboo is because they are not only eco-friendly but also consume less water and energy during production. The growing adoption of green manufacturing processes is another significant initiative undertaken by textile manufacturers. For instance, players like Adidas AG (Adidas) introduced a product line made through a process called DryDye technology, which uses pressurized carbon dioxide instead of water to dye clothing. Hence, such drivers boost the textile industry waste management market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the textile industry waste management market: Aditya Birla Management Corp. Pvt. Ltd., BLS Ecotech Ltd., Boer Group, Evrnu Inc., FABSCRAP, Fibershed, Genomatica Inc., Hyosung Corp., Infinited Fiber Co., Lenzing AG, Martex Fiber, Pistoni Srl, Pure Waste Textiles Oy, Re NewCell AB, RE TEXTIL Deutschland GmbH, Recover Textile Systems S.L, TEXAID Textilverwertungs AG, Veolia Environnement SA, SAAHAS WASTE MANAGEMENT Pvt Ltd., and Worn Again Technologies
• Textile Industry Waste Management Market is fragmented in nature.
• Market to observe 11.56% YOY growth in 2023.

Market Dynamics:

Trend

• The adoption of circular economy models leading to the recycling and reuse of textile waste is an emerging market trend.
• The growth of these models is because they are used to reduce waste and promote sustainability. Owing to such models, most of the waste from the textile industry is removed and reused for the production of new products.
• For example, vendors like Worn Again Technologies are one of the popular companies that have adopted the circular economy model by developing a chemical recycling system that enables the separation and extraction of polyester and cotton from non-reusable clothing and textiles.
• Hence, such trends fuel the growth of the textile industry waste management market during the forecast period.

Challenge

• The lack of proper disposal facilities challenges the growth of the textile industry waste management market.
• The textile industry is a major industry that generates huge amounts of waste and there is a lack of effective processes to remove this waste.
• This can present a major challenge to the growth of the global textile industry waste management.
• The growing concern regarding the environmental hazards of such wastes is generated by the textile industry.
• Hence, such challenges impede the growth of the textile industry waste management market during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The wastewater treatment equipment segment is significant during the forecast period. This equipment is an important component in the textile waste management market, and textile production often comprises the release of various chemicals and dyes that are used in various processes. Furthermore, the main utility of this tank is that it allows solid wastes. This includes natural fibers to settle at the bottom, while the liquid component can be separated and subjected to further treatment. Hence, such factors drive the growth of the wastewater treatment equipment segment of the textile industry waste management market during the forecast period. Get a glance at the market contribution of the segments, Request a Sample

Related Reports:

The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million. This report extensively covers market segmentation by material (metals and chemicals, plastic, and glass), source (household appliances, entertainment, consumer electronics, IT and telecom, medical equipment, and others), and geography ( Europe, APAC, North America, South America, and Middle East and Africa). An increase in industrial activities globally drives market growth.

The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion. This report extensively covers market segmentation by method (landfill, recycling, and incineration), service (processing, collection and transportation, disposal and landfill, sorting, and storage), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). Growing awareness for wet waste management and recycling drives market growth.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Service Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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