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Agrifiber Products Market Expected to Reach US$ 2 Bn by 2025
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Various factors influencing the growth of the global market have been included in this research report. Aspects such as trends, developments, opportunities, drivers and challenges across important regions such as North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA) have been analyzed to determine their direct impact on the growth of the agrifiber market in different regions.
The data is then collated to determine the combined effect of these aspects. A detailed market segmentation is carried out to achieve a higher degree of coverage of the entire agrifiber market. Along with the historical and current market scenario, future market projections from both value and volume perspectives for a period of eight years have been slated in this research report.
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Global Market for Agrifiber Products: Factors Impacting Growth
Numerous aspects have influenced the growth of the global agrifiber products market. Factors such as a burgeoning construction sector, growing concept of green buildings, increasing use of agrifiber in the residential sector, emergence of light weight panel boards, increasing agricultural waste and residue propelling the overall demand for agrifiber products, trend of recycling of agrifiber products, structural changes in the wood panel industry, rapid infrastructure modernization coupled with high demand for affordable furniture and increasing agricultural output are boosting the growth of the global agrifiber products market.
Economic considerations while producing agrifiber products, high cost, lack of low tier manufacturing and less awareness are causing hindrances to the growth of the global market.
Global Market for Agrifiber Products: Forecast Highlights
The global agrifiber products market is expected to reflect a high value CAGR of 6.5% during the forecast period and is estimated to reach a valuation of more than US$ 2 Bn by the end of the assessment period from a value of about US$ 984 Mn in 2017.
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Global Market for Agrifiber Products: Segmental Snapshot
The global agrifiber products market has been segmented on the basis of product type, raw material source, application and region.
By product type, wall panel and boards segment is expected to grow at a high CAGR of 7.5% during the forecast period and is the largest segment by value, dominating the global market during the forecast period.
By application, the residential sector has shown high inclination towards the use of agrifiber products. This is a highly attractive segment with a high growth rate as well as high valuation. The residential segment in 2017 stood at around US$ 850 Mn and is estimated to reach a significant valuation by 2025 end.
By raw material source, wheat and rice straw segment is expected to surpass all other material source segments with a high growth rate as well as high market share during the period of assessment.
By region, Asia Pacific (APAC) region radiates high market attractiveness. The agrifiber products market in Asia Pacific is poised to grow at a high value CAGR of 7.1% during the forecast period and reach a high value share by the end of the year of assessment.
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Global Market for Agrifiber Products: Vendor Analysis
The comprehensive research report on the global agrifiber products market includes profiles of key players along with intelligence on their various activities. Major companies such as ASSA ABLOY, Wanhua Ecoboard Co. Ltd., Masonite, Novofibre Panel Board (Yangling) Co., Ltd., Zelfo Technology GmbH, Lexington Manufacturing Inc., Chappell Door Company, Fifty Door Partners LLC, NAVY ISLAND, INC., STRAWTEC Building Solutions Ltd., Agriboard International LLC, KIREI USA LLC, DAPROMA AB, Lambton Doors, TorZo Surfaces, Compakboard Heerenveen B.V and Sind Particle Board Mills Ltd., have been profiled in this research study.
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