TEXTILE EXCHANGE ANNOUNCES 2024 MATERIALS MARKET REPORT

According to Textile Exchange’s 2024 Materials Market Report, global fiber production reached a record high of 124 million tonnes in 2023. The report shows that the market share of synthetic fibers increased, while cotton and recycled fibers saw a decline.

Key takeaways:

• Record Fiber Production: Global production grew by 7% from 116 million tonnes in 2022, and it is expected to reach 160 million tonnes by 2030.
• Synthetic Fibers Dominate: Virgin fossil-based synthetic fiber production rose from 67 to 75 million tonnes in 2023, with polyester accounting for 57% of global fiber output.
• Challenges for Recycled Fibers: While recycled polyester production increased, its market share dropped. Recycled polyamide remained at just 2%.
• Cotton Decline: Global cotton production fell from 25.1 to 24.4 million tonnes, though 29% of cotton was produced under sustainability programs.
• Certified Wool and Other Fibers: Certified wool increased, with mohair and cashmere reaching 47% market share.

The report emphasizes continued reliance on virgin synthetic materials, which threatens climate goals, but highlights the growing demand for responsible animal fibers. Textile Exchange CEO Claire Bergkamp called for urgent industry action to unlock textile-to-textile recycling and support the transition to preferred materials.

 To access the full report click here.