Export Potential of Recycled Plastic: A Study on Bangladesh

Abstract

In the age of sustainable business practice, the usage of plastic is a matter of great concern. Bangladesh, being a developing country, has a huge amount of plastic waste. However, there is a dearth of empirical research that investigates the potential of recycled plastic industry development in Bangladesh. Therefore, the purpose of this study is to examine the external and internal factors affecting the recycled plastic industry of Bangladesh and to provide recommendations to develop the recycled plastic industry as a potential source of export. To this end, an exploratory study was conducted, and ten officials from Bangladesh based small-and-medium enterprises were interviewed. The results reveal that Bangladesh has huge potential for the recycled plastic industry operation. However, the industry lacks government and institutional support. If public and private sectors can come forward to promote the recycling sector, then this industry has the potential to be one of the most profitable industries in Bangladesh. Based on the expectations of the interviewees, some policy recommendations are suggested to develop the recycled plastic industry. Recommendations have highlighted effective and efficient waste management systems, proper planning, efficient technology usage, infrastructural development, the developed value chain for the collection of plastic wastes, among others. Most importantly, coordinated efforts of government, consumers, recycling industries, and plastic product manufacturers can contribute to the establishment of the plastic recycling sector as a major productive industry in Bangladesh.