Second only to China, Bangladesh carved out an awe-inspiring success story in the global RMG supply. Exports worth $42 billion last year contributed 83 per cent to its total export volume. Whilst the RMG sector continues its growth, the two-year long pandemic and drop in demand for RMG imports from the West thereafter created an economic crisis for the nation. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have targeted the $100 billion mark of export by 2030. After the hit it took in the last two years, Bangladesh is keen to diversify its RMG portfolio.
Technical textiles the way forward
This is where technical textiles present an opportunity. Futuristic technical textiles used in planes, cars, and firefighters’ uniforms and protective clothes are not what comes to mind in the RMG sector but this category represents a huge potential for Bangladesh’s diversification plan. Textile technology has become increasingly commercially viable and is experiencing rapid increase in demand. Garments made of technical textiles can offer many qualities which traditional garments cannot; they can be antibacterial, insect repellent, flame retardant, odorless and much more, allowing the wearer to reduce risks and bodily harm.
Manufacturers of technical textiles use both natural and manmade raw materials. Manmade materials, which currently account for 40 per cent of total fiber consumption across the entire textile industry, include items like viscose, nylon, acrylic and polypropylene. The global market for technical textile is projected to reach $208.5 billion by 2024 from $178.92 billion in 2020. The market is expected to reach $298.1 billion by 2030. Europe represents the largest regional market for technical textiles, accounting for an estimated 28.8 per cent share of the global total.
Asia Pacific lead market
Asia Pacific dominated the technical textile market with a share of 45.9 per cent in 2019. China is the largest exporter of technical textile products with 24 per cent share; followed by the US, Germany and Republic of Korea with 10 per cent, 9 per cent and 4 per cent share respectively.
Within the Asia Pacific region, China and India are two leading countries in the technical textile sector. India is the world second largest polyester producer and its market size is $19 billion. India has set up a scheme within an average growth rate of 15-20 per cent to increase their domestic market size of technical textiles to $40-50 billion at 2024; through market development, technological development, international technical collaborations, marketing and investment promotion.
Bangladesh has its work cut out as they venture into the technical textile segment. In 2010, the Bangladeshi technical textiles consumption market value was worth $281.1 million and production value was $252.2 million. Whilst the pandemic may have been doom and gloom for Bangladesh’s RMG sector, the silver lining came in the form of technical textiles as demand for gloves, mask, PPE kits, etc, grew. During this production process, Bangladesh realised it lacks the infrastructure, research facilities and skilled labor to compete significantly in the global market. The government of Bangladesh has launched various conduct schemes and policies for technical textile manufacturers to make them globally competitive.
