The Canadian market for used and new rags or scrap of textile material saw significant fluctuations from 2013 to 2023. The market value stood at $49.935 million in 2023. Year-on-year changes highlighted a rapid growth from 2018 to 2020, with double-digit increases, peaking in 2018 with a 34.1% increase. However, growth stabilized after 2020 with a modest annual average CAGR of 2.89% between 2019 and 2023, indicating a slowing down of earlier growth momentum.
Future trends to watch for:
- Potential impacts of sustainability and recycling initiatives boosting the demand for textile recycling.
- Technological advancements in processing textile materials could reshape market dynamics.
- Changes in global textile trade policies affecting Canada’s import and export opportunities.
How does Canada 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% | |
| 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 |
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