Recycled Cotton Market: An Overview
Recycled cotton is a material which is obtained generally after converting cotton fabric into cotton fiber. Recycled cotton is basically reused cotton which acts a sustainable product and helps in the environment conservation. Recycled cotton has a number of applications some of which are in the production of carpets, clothing, cars, buildings, etc. Recycled cotton comes in the forms such as purified cotton, cotton blend, etc.
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The global recycled cotton market is subject to witness a lucrative boost with a noteworthy CAGR in the upcoming years that is from 2020 – 2030. The product’s widespread applications and growing need for sustainable products across the globe have been induced as a key driver of the recycled cotton market. Now-a-days, consumers are now getting more and more aware about the environmental impact of the products which they are using.
The characteristics of the product such as its durability, customizability, etc. are some factors which make it an ideal product for various applications thereby increasing the overall recycled cotton market value. An increase in the demand of eco – friendly products in the numerous regions is also a key driver of the market. With the technological advancements in quality and production, the market has seen a notable growth in terms of revenues and is subject to expand exponentially.
However, the awareness of such products is still at the early stages of growth. Existing consumers and their affinity to traditional non – recycled products is restraining the growth of recycled cotton market.
Recycled Cotton Market: Covid – 19 Pandemic Impact
The pandemic of Covid – 19 caused by the SARS – 2 corona virus has had serious impacts on the global recycled cotton market. The predominant reason being the inability and restrictions in supply & demand of the product in various regions of the globe. Government initiated measures like lockdowns have halted the transportation facilities thereby effecting the market adversely.
Moreover, due to the threat caused by the disease there have been crucial irregularities in the workflow of several companies pertaining to this product which too has affected the market negatively. A surge in product costs and lesser demand in this period due to covid – 19 are also some considerable factors which have had an impact on the recycled cotton market globally.
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Segmentation Analysis of Recycled Cotton Market:
The global recycled cotton market is bifurcated into three major segments which are classified as: product type, applications and geography.
On The Basis of Type of the Product, the Recycled Cotton Market Has Been Segmented As Follows:
- Purified Cotton
- Cotton Blend
On The Basis Of Applications Of The Product, Recycled Cotton Market Has Been Segmented As Follows:
On The Basis Of Geographic Regions, Recycled Cotton Market Has Been Segmented As Follows:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Recycled Cotton Market: Regional Analysis
The global recycled cotton market is spread out to several regions across the globe which are mainly North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. The dominant region which covers majority of the recycled cotton market is East Asia. The key aspect responsible for this is the extensive players operating the region and the rise in the demand of recycled products. Moreover, the sustainability initiatives by the governments is also a key factor affecting the growth of recycled cotton market in this region.
Meanwhile, regions like Europe and North America are also subject to notable market growth owing to the demand of recycled cotton market in the automobile and furniture industry, the need for clothing in various sectors and widespread applications of the product.
Recycled Cotton Market: Key Players
The global recycled cotton market is significantly fragmented in nature. A numnber of key players dominate the market some of which are Martex Fiber, Unifi, Cotton Incorporated, Patagonia, Filatures Du Parc, HILATURAS FERRE, Haksa Tekstil, Pashupati Polytex, Nilit, and Far Eastern New Century Corporation. These players have used several strategies and innovations to expand the product portfolio in the market. Other competitors have adapted to usage of strategies such as mergers and acquisitions. To reduce overall expenditure and increase the market share, companies are working in a forward and sophisticated integrated manner.
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