Recycled Fibers Market: Overview
Fibers are used in a variety of applications. Fiber reinforced composites, nonwovens, and textiles are commonly used in numerous products that are used in daily life and technical applications. Recycling refers to the breakdown of the product into its raw materials to be reclaimed and used in new product. Recycled materials used in textile and apparel products can be obtained across the textile and apparel supply chain and from post-customer collection methods. The decision whether to use recycled materials in the products must occur during design and product development and then decide it to continue throughout the manufacturing processes.
Recycled Fibers Market: Drivers & Restraints
Increasing population and rising scarcity of resources are driving the recycled fibers market. The recycling industry is considering these factors and working on the recycled fibers, textile to textile recycling, and end-of-life solutions to reduce the environmental impact. This is driving the recycled fibers market. Additionally, governments of various countries are taking initiatives and recommending the use recycled products to avoid environmental impact caused by improper disposal of wastes. However, the lack of market for recycled products is the most significant barrier for entering the recycled product into marketplace. The reason is that the company can produce a finite number of products with the recycled materials before the market saturates. Additionally, if the consumer demand changes, the market for the waste commodity also changes. Recycling is a dynamic process, as the market saturates for a specific product and a new product must be developed. Additionally, the lack of equipment is also a barrier for the small and medium sized firms.
Recycled Fibers Market: Key Segments
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Based on application, the recycled fibers market is segmented into automotive, bedding, caskets, furniture, apparel, specialty fibers, acoustic insulation, spinning, sporting equipment, uniforms and public security, and others. Recycled fibers are used for production of cost-effective, acoustical parts, and insulation in automotive. These fibers are used for mattresses, pillows, and quilts in beddings. These fibers are used for batting, waddings, and needled and bonded felts in furniture. Specialty fibers are used for carding/spinning, composite, pulp, and wet laid applications.
In terms of raw material, the recycled fibers market can be segregated into polyesters, nylon, acrylic, cotton, cellulosic, polypropylene, wool, and others. Recycled polyesters account for a major share of the recycled fibers market, followed by cotton. Recycled wool is not widely used. Recycled nylon is also used in small scale.
Recycled Fibers Market: Regional Outlook
Based on region, the global recycled fibers can be divided into Latin America, North America, Europe, Asia Pacific, and Middle East &Africa. Asia Pacific dominates the recycled fibers market, followed by Europe and North America. Increase in production capacity and low wages are anticipated to boost the market in Asia Pacific. China accounted for the large share of the market in Asia Pacific. However, the market in North America and Europe also is projected to expand at a rapid pace, as the market is experiencing waste disposal problems. However, ongoing technological advancements and launch of new products are estimated to boost the demand for recycled fibers in the regions during the forecast period. The market in Latin America and Middle East & Africa are likely to expand at a sluggish pace during the forecast period.
Recycled Fibers Market: Key Players
The key players operating in the global recycled fibers market include Leigh Fibers Inc., Indorama Ventures, Martex Fiber, Polyfibre Industries Pvt Ltd., Poole Company, Inc., and RSWM Ltd., and Unifi, Inc.
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