Forecast: Import of Used and New Rags or Scrap of Textile Material to Canada

The import of used and new rags or scrap of textile material to Canada is forecasted to increase steadily from 2024 to 2028. In 2023, actual imports were at a lower value, and the forecasted values show gradual growth: starting at 11.567 million USD in 2024 and reaching 13.209 million USD in 2028. The year-on-year growth averages close to 4% over these years, indicating a consistent upward trend. The compound annual growth rate over this period is approximately 3.4%, reflecting a stable increase in demand or necessity for these materials.

Future trends to watch for include:

• Environmental regulations that may impact the textile industry and recycling efforts.
• Changes in global trade policies that could affect import costs and logistics.
• Technological advancements in textile recycling and reprocessing that could alter demand.
• Consumer and industry shifts towards sustainable and recycled materials driving import needs.