Global Recycled Wool Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Recycled Wool Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Recycled Wool market finds that the global Recycled Wool market reached a value of USD 112.0 million in 2022. It’s expected that the market will achieve USD 153.27 million by 2028, exhibiting a CAGR of 5.37% during the forecast period.

Impacts from the short term

The new coronavirus has been considered a pandemic by the World Organization, and few countries can escape its effects. At present, the world's major consumer and production countries, such as the United States, Japan, the United Kingdom, and so on, are all trapped in the mire. Although isolation measures were not taken immediately in order not to affect economic development, the growing severity of the epidemic has affected the normal production of enterprises, as well as consumption, imports and exports between countries. The main consumption areas of Recycled Wool are some countries in Europe and Asia, which are also the hardest hit areas of the current epidemic. It is expected that the sales volume of Recycled Wool will not grow too much in the short term and may even shrink.

Impacts from the long term

In the long run, the market potential of Recycled Wool is huge. Recycled Wool material is made from waste recycling in line with people's environmental protection concept, and it is a part of the current popular circular economy, and it will continue to develop with the increasing development of circular economy. In addition, as some developing countries, led by China, refuse to accept waste from developed countries, this will force developed countries to solve their own waste, which will also bring certain opportunities to the Recycled Wool industry.

Region Overview:

In 2022, the share of the Recycled Wool market in Asia Pacific stood at 50.68%.

Company Overview:

Novetex is one of the major players operating in the Recycled Wool market, holding a share of 13.40% in 2023.

Established in 1976 as part of the Novel Group, Novetex Textiles Limited is a yarn spinner with headquarter located in Hong Kong and spinning factories located in Zhuhai, southern China. The company's latest development is the Blillie System, a HK $1.5 million investment by Novetex Textiles Limited launched in 2019, which offers an innovative way for brands and companies looking to recover excess inventory, unused raw materials or textile scraps, Has been recognized in the global Innovation awards, won the Gold Medal at the Geneva International Exhibition of Inventions, and won the Bronze Award at the Hong Kong Green Innovation Awards 2019 (HKGIA).

Nuova Fratelli Boretti (NFB) is a company that uses recycled materials to make textiles.

Lanificio Becagli was founded in 1991. The Company's line of business includes manufacturing textile materials and products for clothing use.

Segmentation Overview:

By type, Reused Wool segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Retail, with a market share of 59.20% in 2022.

Key Companies in the global Recycled Wool market covered in Chapter 3:

Usha Yarns Ltd.
Novetex
GEETANJALI WOOLLENS PRIVATE
Leigh Fibers Inc.
Manteco
Nuova Fratelli Boretti (NFB)
The Tartan Blanket Co.
Kishco Group
Lanificio Becagli
Khaloom

In Chapter 4 and Chapter 14.2, on the basis of types, the Recycled Wool market from 2018 to 2029 is primarily split into:

Reprocessed Wool
Reused Wool

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Recycled Wool market from 2018 to 2029 covers:

Automotive
Retail
Mining
Building & Construction
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)