News

The global abaca fiber market size is expected to be worth around US$ 3.7 billion by 2030, according to a new report by Vision Research Reports.

The global abaca fiber market size was valued at US$ 430.9 million in 2020 and is anticipated to grow at a CAGR of 17.1% during forecast period 2021 to 2030.

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Abaca Fiber Market (By Product: Pulp & paper, Fiber Craft, Cordage, Textile, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope	Details
Market Size	USD 3.7 billion by 2030
Growth Rate	CAGR of 17.1% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Product
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	M.A.P. Enterprises; Yzen Handicraft Export Trading; Specialty Pulp Manufacturing, Inc. (SPMI); Ching Bee Trading Corporation; Peral Enterprises; Sellinrail International Trading Company; DGL Global Ventures LLC; Terranova Papers

Growth Factors

 Growing emphasis by governments across various countries towards the adoption of natural fibers is expected to drive market growth as a substitute for hazardous synthetic fibers and metals in various industries.

Rapidly rising usage of abaca fiber in the growing pulp and paper industry for applications such as cigarette filter papers, tea and coffee bags, and disposable medical and food papers is expected to drive the market.

The paper and pulp industry is expected to be the dominant application segment over the forecast period. Specialty papers made of abaca fibers are lightweight and possess high tensile strength. Due to these properties, companies in the pulp and paper industry prefer abaca fibers for applications such as tea bags, large sausage casings, currency and security papers, and cigarette and filter papers.

By Product Analysis

The pulp and paper product segment led the market and accounted for the largest revenue share of more than 82.0% in 2020. This is attributed to the rising demand for non-wood fibers as raw materials for specialty paper applications.

Active research and development activities are in progress for the proper understanding of pulping characteristics, pulp yield, and quality of abaca fibers. The outcomes of the studies can offer a good idea of possibilities and potential use of abaca fibers for pulp and paper production.

The textile product segment is also expected to witness a notable revenue-based CAGR of 12.2% over the forecast period on account of the rising demand for advanced biomaterials in fashion textiles.

By Regional Analysis

Asia Pacific dominated the market and accounted for the largest revenue share of about 64.0% in 2020, owing to the growth in adoption of these fibers in several end-use industries including healthcare, specialty paper, handicraft, automotive, and textile, due to their high mechanical strength, durability, long length, and sustainability.

In Europe, the market is expected to witness a notable revenue-based CAGR of 14.8% from 2021 to 2028, owing to the growing adoption of the fibers in several application industries including food and beverages, automotive, and specialty papers owing to their high mechanical strength, durability, flexibility, and long length.

Key Players

• M.A.P. Enterprises
• Yzen Handicraft Export Trading
• Specialty Pulp Manufacturing, Inc. (SPMI)
• Ching Bee Trading Corporation
• Peral Enterprises
• Sellinrail International Trading Company
• DGL Global Ventures LLC
• Terranova Papers

Market Segmentation

• Product
  • Pulp & paper
  • Fiber Craft
  • Cordage
  • Textile
  • Others
• Regional
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Philippines
  • Central & South America
  • Middle East & Africa

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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