The new report by Expert Market Research titled, ‘Global Abaca Fibre Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global abaca fibre market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 6% (Philippines Abaca Fibre Market)
The market for abaca fibre is being aided by the increasing demand for natural fibres owing to the rising concerns regarding rapid climate change. The favourable properties of abaca fibre such as durability, flexibility, and strength make it suitable for use in various industries which is also propelling the market growth. Moreover, the growing demand for products made with abaca fibre is increasing as they do not contribute to carbon emissions. The rising use of abaca fibre as a substitute for synthetic fibres is further expected to aid the growth of the abaca fibre industry. The extensive use of abaca fibre in the manufacturing of speciality papers is expected to providerr further impetus to the market growth.
Industry Definition and Major Segments
Abaca fibre, also known as Manila hemp, is a natural fibre that is obtained from Musa textillis and is buff in colour. The fibre is the strongest natural fibre and is used widely in the paper and pulp industry to produce thin, durable, and strong papers. Moreover, it is also used in the automotive industry owing to its biodegradable properties.
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Based on applications, the market is divided into:
- Cordage
- Ropes and Yarns
- Paper and Pulp
- Handicrafts
- Fibre Craft
- Others
The major regional markets of abaca fibre are:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The abaca fibre industry is being aided by the robust growth of the automotive industry. As the fibre has high tensile and mechanical strength, it is used as a substitute for glass fibre in the exterior parts of automobiles. This is anticipated to fuel the market growth. Moreover, the potential use of abaca fibre as a roofing material in public utility vehicles is expected to aid the market growth. The sustainable and recyclable properties of abaca fibre are used increasingly used to promote the use of environmentally friendly products. In addition, increasing researches regarding the genesis of abaca fibre can lead to the development of superior fibre which is anticipated to propel the industry growth.
Key Market Players
The major players in the market are Ching Bee Trading Corporation, Swicofil AG, and Sisal Farm (Pty) Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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