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Bangladesh’s scope to grab $180bn technical textile market

German-based Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) conducted a study titled ‘Feasibility study on scaling up the production of Technical Textile (TT) including Personal Protective Equipment (PPE) in Bangladesh’ concluded that Bangladesh, still in the primary phase of technical textiles, and has a vast perspective to grab the big technical textile markets of EU and USA.

Technical-textile-market-growth-bangladesh-export

GIZ study identified five key reasons behind this:

  1. Lack of awareness of market requirements,
  2. Inadequate technical expertise,
  3. Difficulty in sourcing high-performance raw materials,
  4. Compliance and certification requirements
  5. Need for capital investment.

The report said, “Most apparel manufacturers in Bangladesh tend to be medium-sized companies. Even large apparel groups are not known by international procurement agencies for TT/PPE products. The sourcing supply channel for medical PPE products is far more complex than that of apparel. Comprehensive details regarding performance, testing and certification requirements for the EU and the US are provided.”

According to various surveys, the technical textile market is expected to rise by $224.4 billion by 2025 at an average annual growth rate of 4.2%. While the total PPE market is expected to pass $93 billion by the end of 2025.

According to the Export Promotion Bureau (EPB) data, in the FY 2020-21, Bangladesh exported $618 million worth of PPEs and masks, which grew by 23% more than the previous year.

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