The used and new rags or scrap of textile material market in Barbados reached a value of 279.62 thousand US dollars in 2023. Year-on-year growth for 2023 was 1.45%, showing stabilization after a substantial recovery in 2021 with 22.36% growth. The market has fluctuated significantly over the past decade, with gains and losses, but the five-year CAGR of 3.04% from 2019 to 2023 indicates moderate long-term growth.
Future trends to watch for:
- Sustainability and circular economy drives could increase demand for recycled textiles.
- Technological advancements in textile recycling could further enhance market growth.
- Economic factors influencing consumer spending and industrial demand may impact the market.
How does Barbados rank in Used and New Rags or Scrap of Textile Material Market Size Value?
| # | 15 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 115,280,000 | 2023 | +0.33% | +0.79% | View data |
| 2 | 2 Germany | 72,831,000 | 2023 | +1.75% | +1.08% | View data |
| 3 | 3 Canada | 49,935,000 | 2023 | +1.68% | +2.89% | View data |
| 4 | 4 United Kingdom | 45,247,000 | 2023 | +0.32% | +0.23% | View data |
| 5 | 5 Australia | 38,670,000 | 2023 | -2.98% | -3.04% | View data |
| 12 | 12 Finland | 2,326,800 | 2023 | -0.17% | +0.63% | View data |
| 13 | 13 Jamaica | 506,750 | 2023 | -0.015% | +0.81% | View data |
| 14 | 14 Barbados | 279,620 | 2023 | +1.45% | +3.04% | |
| 15 | 15 Montenegro | 179,100 | 2023 | +2.02% | +3.01% | View data |
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