Bangladesh has the potential to earn $4 billion a year from fabric scraps, locally known as jhut, if those are recycled properly, said the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday. The total volume of these leftovers discarded by the apparel industry is about 400,000 tonnes each year, according to a BGMEA report. In many areas dense with garment factories, the discarded fabrics are collected by local miscreants and exported in bulk to counties like India and China. The buyers then recycle the materials to make yarn, particularly for denim products. Similarly, the global economy misses out on an estimated $80-120 billion per year by discarding plastic wastes. Polyester Staple Fibre (PSF), made from recycled plastics, is rapidly becoming the world’s first choice in manufactured fibres, the BGMEA added. PSF is a synthetic fibre comprising solely polyester and can be made from both virgin and recycled polyethylene terephthalate chips. PSF is widely used in the textile, automation and furniture industries for products such as rugs, fibrefill, and non-woven fabrics. The global market size for PSF was $23.16 billion in 2016 and the market is expected to reach $34.54 billion by 2025, the study said. PSF imports by Bangladesh increased 13 per cent during 2014 to 2018. The global market size was valued at $20 billion in 2018 and could expand by a further 15.2 per cent to $53.6 billion between 2019 and 2025. The production of wigs and hair extensions is expected to increase at highest by 15.5 per cent with the Asia Pacific, European and Middle Eastern countries making up a bulk of the demand for hair accessories, the BGMEA report added. Bangladesh’s textile chemicals market is forecasted to grow to $1.38 billion by 2024 with an average growth rate at 8 percent in a year. The sector accounted for $864 million in 2019. The global luggage market was valued at $16.01 billion in 2017 and is now projected to grow at 16.5 per cent per year till 2025. The travel luggage market is expected to reach more than $23 billion by the end of 2025, the BGMEA study said.
