Abaca Fiber Market 2019 Global Industry Analysis, Growth Forecast & Emerging Trends To 2025
Additionally, the European government emphasis on the use of environment friendly products is growing the abaca fiber market that is witness significant gains due to the boost in automotive market post economic slowdown. Africa is estimated to be one of the fastest growing segment during forecast period. GCC countries product demand is slowly growing significantly due to increasing cordage application.
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Abaca Fiber Market size is anticipated to witness escalating gains from 2016 to 2024. The business growth is majorly driven by increasing application in end user industries such as pulp & paper, cordage, fiber craft etc.
It is kind of strong fiber extracted from banana leaf. This fiber is majorly used for making ropes and twines. Natural properties such as hard fiber enable them to be used by paper industry for manufacturing tea bags, decorative paper and banknotes. Further abaca ropes are durable, resistant to salt water damage and flexible which allows them to be used in ship line, hawsers and fishing net’s.
Reasons to Buy This Report:
1. Abaca Fiber Market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Key Abaca Fiber Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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Rising demand from paper & pulp manufacturing industries as well continuous development of fiber craft industry in Philippine. In addition, increasing demand for toys, gifts and house wares products is estimated to augment market demand over the forecast timeframe. Abaca fiber is majorly used in a specialty paper manufacturing process. Strong demand from pulp & paper manufacturing industries is projected to complement growth of global abaca fiber market overcoming years.
Increasing application scope in various end-user industries such as textiles, for manufacturing yarns and ropes, handicrafts & fabrics will boost the demand over 2024. Automotive industry growing need for natural rubber to fill bolster, damping, interior trim parts, hat racks and parcel trays. Growing demand from automotive industry for strong and hard natural fibres along with increasing automobiles sale in developing economies like China, Brazil and India is forecasted to drive the market in coming years.
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Global abaca fiber market was competitive in 2016. Major companies contributing the global share includes Ching Bee Trading Corporation, Tag Fibers, Inc., MAP Enterprises, The Fiber World, Selinrail International Trading, Yzen Handicraft Export Trading and Italfil Expo Bags Company Limited.
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