I don't think I've had to retire much clothing due to wear from a dryer... if you hang everything to dry, what's your baseline for lasting "much longer", given you aren't drying clothes in a dryer?
The time spent folding clothes is offset by how much softer and more pleasant to touch they are versus line-dried clothes
Per "USA Today":
Using a machine dryer wears clothes fast, thanks to the increase in friction and heat. Washing your clothes and then drying them on a clothes drying rack or outdoor clothesline minimizes that impact.
Air-drying also avoids static cling, eliminating the need for dryer balls or dryer sheets.
Your favorite apparel pieces will thank you for keeping their color, shape, and texture intact longer.
Laundry instructions exist for a reason. If you wear expensive, delicate, or irreplaceable clothing, it pays to read their tags. If an item should be hand washed or run on the delicate cycle, you shouldn’t put it in the dryer. And, if you’re concerned about fit, it’s best to let those clothes air-dry. If an item should be hand washed or run on the delicate cycle, you shouldn’t put it in the dryer, because it can shrink.
If your life is stain-prone (i.e. kids, pets, messy work) air-drying gives you the option to continue a stain removal process. Stains set when they’re placed in the dryer at a high temperature, and it’s pretty easy to miss stains on clothing when you’re transferring them from the washer. So you might find out too late that a stubborn mustard splotch is still there. If you air-dry a stained item, you can continue to treat the stain and wash the item until it’s removed.
Air-drying your clothes doesn’t use any electricity or gas at all.