Top Companies in Textile Recycling Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research

Vantage Market Research has recently published a new report on the "Textile Recycling Market” Global Industry Assessment & Forecast to identify key trends and challenges. The report offers insights into the competitive landscape, prospects, and key investment considerations for businesses operating in the Textile Recycling market. Few of the key points in the report highlight that Global Textile Recycling Market was valued at USD 6.5 Billion in 2022 and is projected to reach a value of USD 9.9 Billion by 2030 at a CAGR of 6.20% over the forecast period. The global textile recycling market will continue to expand due to rising demand from different end-user sectors, including sports and leisure, industrial cleaning and wiping, automotive, home textiles, building and construction, and packaging industries.

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The global textile recycling industry is highly fragmented, with many small and medium-sized companies operating in the market. However, there are a few prominent companies that dominate the industry. Here are some of the leading companies in the global textile recycling market. This includes companies like, I:CO, Bioelektra Group, Recover, Looptworks, TerraCycle, Renewcell, Evrnu, Worn Again Technologies, Global Fibre Recycling, and The Renewal Workshop, to name a few. These companies are leading the way in promoting sustainable practices in the textile industry and are contributing to the growth of the global textile recycling market. These market participants also pursue strategies like investments, partnerships, acquisitions, and mergers to increase their market dominance. Furthermore, businesses are investing in the creation of better services. They are also concentrating on keeping their prices reasonable.

Let’s Take a Look at the Top Market Players that are Captivating the Textile Recycling Market

1. The Renewal Workshop (U.S.)

Headquartered in Cascade Locks, Oregon, The Renewal Workshop is a leading provider of circular solutions for the fashion and textile industries. The company has offices in Amsterdam and Paris, with plans to expand further into Europe. They operate a production facility in Oregon and a distribution center in Amsterdam. The Renewal Workshop employs over 60 people and has received funding from various investors, including Patagonia. While revenue details are unavailable, the company has reported steady growth since its founding in 2016.

2. Evrnu (U.S.)

Based in Seattle, Evrnu is a company that specializes in transforming post-consumer textiles into new, high-quality fibers. The company has a worldwide reach, with U.S., Europe, and Asia offices. In addition, Evrnu has a production facility in China and plans to open a second one in India. The company currently has around 30 employees and has received funding from various investors, including Adidas. While revenue details are unavailable, Evrnu has reported significant growth since its founding in 2014.

3. Worn Again Technologies (UK)

Headquartered in London, Worn Again Technologies is a company that specializes in creating textile-to-textile recycling solutions. Worn Again Technologies has a global presence, with UK and Netherlands offices. The company plans to open a commercial-scale production plant in the U.K. in 2023. The company employs around 35 people and has received funding from a range of investors, including H&M. While revenue details are unavailable, the company has reported steady growth since its founding in 2005.

4. Recover (Spain)

Based in Spain, Recover is a leading provider of recycled cotton and polyester yarns. Recover has a worldwide reach, with offices in Spain, Italy, and the U.S. Recover operates two production facilities in Spain and has plans to expand its operations in the U.S. The company employs around 300 people and reported revenue of €45 million in 2020.

5. I:CO (Switzerland)

Headquartered in Switzerland, I:CO is a company that provides textile collection and recycling services to brands and retailers. The company is present globally and has offices in Europe, North America, and Asia. I:CO operates recycling facilities in Germany and Switzerland and has plans to expand its operations in Asia. The company employs around 120 people and reported revenue of CHF 34 million in 2019.

6. Looptworks (U.S.)

Based in Portland, Oregon, Looptworks is a company that specializes in upcycling pre-consumer and post-consumer waste into new products. Looptworks has a global presence, with offices in the U.S. and Europe. Looptworks operates a production facility in Portland and has plans to expand its operations in Europe. The company employs around 30 people and has received funding from various investors, including Patagonia. While revenue details are unavailable, the company has reported steady growth since its founding in 2009.

7. TerraCycle (U.S.)

Headquartered in Trenton, New Jersey, TerraCycle is a company that works with hard-to-recycle materials, including textiles. The company has a global reach and has offices in the U.S., Europe, and Asia. TerraCycle operates recycling facilities in the U.S. and Europe and has plans to expand its operations in Asia. The company currently employs approximately 800 people and reported revenue of $25 million in 2020.

8. Renewcell (Sweden)

Renewcell is a Swedish company that uses innovative technology to turn waste textiles into high-quality materials. Renewcell has a global presence and offices in Sweden, the U.K., and the US. Renewcell operates a production facility in Sweden and plans to open a second facility in the U.S. The company currently employs around 70 people and reported revenue of SEK 25 million in 2020.

9. Bioelektra Group (Poland)

Bioelektra Group is a Polish company that provides recycling services for various materials, including textiles. The company boasts a global presence, with offices in Poland, the U.S., and the U.K. Bioelektra Group operates recycling facilities in Poland and the U.K. and has plans to expand its operations in the U.S. The company employs about 100 people and reported revenue of PLN 230 million in 2020.

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