Global Abaca Fiber Market Growth 2023-2029

Global Abaca Fiber Market Growth 2023-2029

Abaca, also called as manila hemp, is extracted from the leaf sheath around the trunk of Musa textilis, a type of banana plant that is mostly found in the Philippines and humid tropics. Harvesting and cultivating abaca is a labor-intensive process as the pulp is removed by cutting strips and scraping stalks. Fibers obtained from the process are then dried and removed. Abaca fiber has high strength and is used in the paper industry for making mimeograph mats and teabags. It is also used to make handicraft such as carpets, furniture, clothing, and bags. Abaca fiber is used in fishing nets, hawsers, and shipping lines due to beneficial properties such as flexibility, durability, and saltwater resistance. It is classified as a hard fiber along with sisal, coir, and henequin. In addition, abaca fiber is used in gifts, toys, and housewares. Furthermore, it is used as an alternative to glass fiber reinforced plastics components.

LPI (LP Information)' newest research report, the “Abaca Fiber Industry Forecast” looks at past sales and reviews total world Abaca Fiber sales in 2022, providing a comprehensive analysis by region and market sector of projected Abaca Fiber sales for 2023 through 2029. With Abaca Fiber sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Abaca Fiber industry.

This Insight Report provides a comprehensive analysis of the global Abaca Fiber landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Abaca Fiber portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Abaca Fiber market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Abaca Fiber and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Abaca Fiber.

The global Abaca Fiber market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

Major end-use industries of abaca fiber include paper & pulp, fiber craft, and cordage. Paper & pulp industry was the largest end-use industry for abaca fiber followed by cordage manufacturing and fiber craft industry. Increasing application scope of abaca fiber in the manufacturing of specialty paper is likely to be one of the key factors to drive demand for abaca fibers in the paper & pulp industry. Rising demand for cordage in industrial applications including production of ropes for ships is expected to boost its demand over the next seven years.

Asia Pacific was the largest market for abaca fiber in terms of production and consumption over the past few years and trend is expected to continue over the forecast period. Philippines being the world’s largest abaca producer holds the major market share in the Asia Pacific market. Considerable portion of produced abaca fiber in Philippines is internally consumes while a major portion is exported to various countries including U.S., Japan and other European countries. Government of Philippines is taking supportive initiatives to increase production levels of high quality abaca fiber for domestic consumption and export. This is expected to further strengthen its market positioning and open market opportunities for new players over the next seven years.

This report presents a comprehensive overview, market shares, and growth opportunities of Abaca Fiber market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Fine Abaca Fiber
Rough Abaca Fiber

Segmentation by application
Paper & Pulp
Fiber Craft
Cordage

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Ching Bee Trading Corporation
Peral Enterprises
MAP Enterprises
Tag Fibers
Yzen Handicraft Export
Selinrail International Trading

Key Questions Addressed in this Report

What is the 10-year outlook for the global Abaca Fiber market?

What factors are driving Abaca Fiber market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Abaca Fiber market opportunities vary by end market size?

How does Abaca Fiber break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.