In 2023, China's import of sorted used or new rags was valued at approximately 8.2000 million USD. The data from 2024 to 2028 shows a consistent decline in imports, with a year-on-year decrease of roughly 13% between each consecutive year. By 2028, the forecasted value is projected to be just 3.5309 million USD. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) reflects a significant average annual decrease of around 15%.
Future trends to watch for:
- Potential shifts in China's textile recycling policies that could impact the demand for imported rags.
- Advancements in domestic recycling technologies, which may reduce reliance on imports.
- Global trends in textile sustainability and circular economy strategies.
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