Global Recycled Polyester Textile Market: Introduction
Polyester is a manmade fiber, synthesized from petrochemical products by the polymerization process. A majority of polyester used in textile is polyethylene terephthalate (PET). 60% of the PET produced globally is used to make fibers for textiles and about 30% is used to manufacture bottles. The annual global production of textile grade virgin polyester is estimated to require about 70 million barrels of oil. This necessitates the adoption of recycling solutions to reduce environmental damage. Recycled Polyester Textile (rPET) is recovered from end-of-life apparels, bottles, and other polyester products. The energy required for the production of rPET is lesser than that required for virgin polyester. It can be either mechanically or chemically recycled, with feedstock consisting of either pre- or post-consumer waste that can no longer be used for its intended purpose.
Global Recycled Polyester Textile Market: Trends
Recycled polyester-based fabrics are ten times stronger than normal polyester fabrics and can resist the growth of fungi, mold, and bacteria. Using recycled polyester reduces the dependence on petroleum as raw material for global fabric needs. Diverting used PET bottles to recycling plants prevents them from landing into landfills, and thus reduces soil contamination and air and water pollution. The textile apparel and garments created from recycled polyester is continuously recyclable for multiple cycles without any quality degradation, which minimizes wastage. Rapid growth of the textile industry across the globe and rise in demand for sustainable products manufactured by leading companies such as Nike, Patagonia, and Otto Group to reduce energy and carbon emissions are expected to boost the recycled polyester textiles market during the forecast period. However, currently, there are many industrial challenges poised for recycling polyester textiles. Solving quality issues through contaminations of various additives such as antioxidants, pigments, stabilizers or anti-blocking agent, and shortening of polymer chain at de-polymerization stage and ensuring constant industrial feedstock and closing the loop by fostering feedstock from textile pre- and post-consumer waste is a critical task. Moreover, recycling of polyester has not yet reached economical scale of production. These challenges are still to be overcome at the factory level and also in the global recycled polyester textiles market.
Global Recycled Polyester Textile Market: Segmentation
Based on application, the global recycled polyester textile market can be divided into clothing, medical textiles, and others. In terms of region, the recycled polyester textiles market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on consumption, North America and Europe are expected to lead the recycled polyester textiles market during the forecast period. Rise in awareness regarding sustainable textile production is propelling the demand for recycled polyester textiles for sustainable textile production. Many companies in countries such as the U.S., Italy, and Germany are working together with environmental organizations to recycle waste plastic bottles to create sustainable products. Additionally, many fashion designers are adopting sustainable clothing to support the environment. The recycled polyester textiles market in Asia Pacific is anticipated to expand at a rapid pace in the near future. Rise in population and rapid growth of the textile industry in emerging economies such as India and China are some of the factors that are expected to fuel the recycled polyester textiles market during the forecast period. Latin America and Middle East & Africa are less mature region of the recycled polyester textiles market due to low product awareness. However, product awareness through brand promotion and capacity expansion by various textile producers are likely to boost sales in these regions during the forecast period.
Global Recycled Polyester Textile Market: Key Players
Key players operating in the recycled polyester textiles market include Lenzing AG, Teijin Ltd, Foss Performance Materials, and Vivify Textiles.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.