Abaca Fiber Market to grow by USD 314.09 million from 2022 to 2027 | The market is concentrated due to the presence of prominent companies like Celulosa de Levante SA, Chandra Prakash, and Co. and Ching Bee Trading Corp., and many more - Technavio
The abaca fiber market is concentrated owing to the presence of many global and regional companies.
NEW YORK, Oct. 18, 2023 /PRNewswire/ -- The abaca fiber market is estimated to grow by USD 314.09 million from 2022 to 2027, growing at a CAGR of 13.7%. The abaca fiber market is concentrated owing to the presence of many global and regional companies. A few prominent companies that offer abaca fiber market are Celulosa de Levante SA, Chandra Prakash and Co., Ching Bee Trading Corp., DGL Global Ventures LLC, Heayi Trading Co. Ltd., Specialty Pulp Manufacturing Inc., and Wigglesworth and Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Buy the report!
Company Offering:
- Celulosa de Levante SA - The company offers abaca fiber such as CELTEX which is well suited for the production of tea bags, meat casing, base papers for stencils, and industrial filters.
- Chandra Prakash and Co. - The company offers abaca yarn which is made from high-quality abaca fiber.
- Ching Bee Trading Corp - The company offers abaca fiber under the brand, Specialty Pulp Manufacturing Inc.
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By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa.
- APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Increasing adoption of these fibers in various end-user sectors, such as healthcare, specialty paper, crafts, automobiles, and textiles, is one of the main factors that have substantially contributed to the growth of the global abaca fiber market in Asia Pacific. The main reason for its increasing use is due to its unique properties such as high mechanical strength, durability, length, and durability. In addition, the main producer of abaca fiber is the Philippines, which produces more than three-quarters of all abaca fiber.
Download free sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- Increasing demand for abaca fibers from the pulp and paper industry
- Key Trend - Automotive manufacturers adopting natural fibers for vehicle interiors
- Major Challenges - The labor-intensive nature of the market
Market Segmentation
- By Product, the market is classified into pulp and paper, cordage, fibercraft, textile, and others. The pulp and paper segment is estimated to witness significant growth during the forecast period. Abaca fiber is increasingly used in production in the specialized pulp and paper industries due to its properties, such as fiber length, strength, and cellulose content. Therefore, these properties of abaca fiber make it suitable for making specialty papers, including tea and coffee bags, sausage wrappers, electrolysis paper, coin paper, cigarette filters, and processed filter papers.Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report
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Abaca Fiber Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.7% |
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YoY growth 2022-2023 (%) |
13.16 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Key countries |
US, The Philippines, Japan, China, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About US
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Contact US:
Technavio Research
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Email: [email protected]
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SOURCE Technavio
