Sumary of Textile recycling could generate around 15,000 new jobs by 2030:
- Thus, in addition to the environmental impact it implies, the transformation to a circular economy offers numerous opportunities for the sector, with closed-loop production in Europe generating a market of six to eight billion euros in sales with potential annual returns of 20% to 25% for the recycling industry and the possibility of creating around 15,000 new jobs by 2030, according to the new McKinsey & Company report ‘Scaling textile recycling in Europe—turning waste into value’, released today and which analyzes and develops scenarios for the development of textile waste volumes and collection and recycling rates by 2030.
- Textile recycling could generate a market worth six to eight billion euros and create around 15,000 new jobs in Europe by 2030, while reducing CO2 emissions by four million tonnes, according to a study.
- Of this volume, less than 1% of post-consumer waste is currently recycled to produce new textile products in the 27 EU countries and Switzerland, highlighted the consultant, revealing that more than 65% of this waste is transported directly to landfill or incinerated.
- This analysis indicates that each European produces on average more than 15 kilograms [kilograms] of textile waste per year, and by 2030 this figure could reaching 20 kilos (an increase of more than 30%), concluding that the largest proportion (85%) of waste is produced in private homes and concerns clothing and home textiles.
- Textile recycling could generate around 15,000 new jobs by 2030, indicates a study by McKinsey & Company – Agape According to the McKinsey & Company document, currently, less than 1% of textile waste is recycled to produce new pieces, about 30% to 35% are screened and at least a fifth could be used in the future.
- The textile industry in Europe faces new challenges related to the reduction of its environmental footprint through the promotion of the circular economy and the creation of new sustainable business models from the recycling of textile waste, said the consultant, in a statement.