Bangladesh eyes global PPE market
Workers are seen producing protective gowns at an apparel unit in the capital on Thursday.
Staff Reporter :
Local textile and apparel companies have scaled up production of personal protective equipment (PPEs) eyeing a share in the $60 billion global PPE market.
Global PPE market was valued at US$52.7 billion in 2019 and is expected to reach US$ 92.5 billion by 2025, according to industry insiders.
The sudden outbreak of coronavirus is the key factor behind driving the growth of the global PPE market in the current scenario. The drastic changes occurring due to Covid-19 that is impacting every individual globally as a result to which demand for PPEs are increasing rapidly.
World Health Organization (WHO) has urged all the manufacturers of PPEs globally to increase the production of these equipments on an emergency basis due to corona pandemic.
"Covid-19 pandemic has raised global demands for protective masks, gloves and gowns encouraging local companies to increase PPE production to cater the demand," said Md Obaidul Azam, additional secretary to the Ministry of Commerce.
He said China grabs the largest share of global PPE market. But the country might lose the market due to the outbreak of novel coronavirus, which has originated in China. "This has created an 'opportunity' for us and we want to exploit it," he added.
Azam also said that his ministry has already started discussion with the producers on how to tap the export potential of locally made PPEs. Besides, the government is thinking about providing incentives to the producers to make their products competitive in the global market.
"Locally produced PPEs have huge export potential when demands for the protective gears have increased tremendously across the world amid Covid-19 pandemic," observed Dr Nazneen Ahmed, Senior Research Fellow of the Bangladesh Institute of Development Studies (BIDS).
He said the export of PPEs could also help the country to diversify its export products and markets in the near future.
Dr Nazneen Ahmed however said that right now it is not necessary to provide incentives to the producers on PPE export.
Meanwhile, Bangladesh has joined in global race, as a world-class PPE producer. On May 25, Beximco, the country's leading textile brand, sent a consignment of 6.5 million PPE gowns to US brand Haynes.