Press Release

Global Abaca Fibre Market to Grow at a Healthy Pace During 2024-2032

Global Abaca Fibre Market

According to a new report by EMR titled, the global abaca fibre market size was around USD 279.86 million in 2023. The market is estimated to grow at a CAGR of 3.74% during 2024-2032 to reach a value of USD 387.70 million by 2032.

The Asia Pacific region holds a significant share of the abaca fibre industry. The Philippines is the largest producer of abaca fibre. It is extensively used in the region in the textile industry and paper and pulp industry. Moreover, the rising popularity of various crafts and home decoration products manufactured using abaca fibre is propelling the market growth. Abaca fibre is also used in various currencies as in Japan. In addition, rapid industrialisation and the robust growth of the construction industry in the region are increasing the demand for ropes and finishing lines, hence augmenting the growth of the abaca fibre industry. The rising pollution levels and rapid climate change in the region are increasing the use of natural and sustainable fibre owing to the introduction of stringent government policies. This is also invigorating the market for abaca fibre. Moreover, the surging automotive manufacturing activities in India and China are increasing the demand for abaca fibre as a substitute for glass fibre. This is further fuelling the market growth, hence contributing significantly to the overall industry growth.

 

Sisal Farm (Pty) Ltd., one of the leading players in the market with the major end use in the paper industry, offers Manila Rope, which is made from abaca fibre. The rope is 20% stronger and cost-effective than hemp and is made from both nautical and industrial. It can be used for landscaping, industrial tools, and restoration, among others. The rope also provides aesthetic appeal while being ideal for applications where good grip is important. Due to the growing product range of abaca fibre companies, the market is expanding.

 

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Market Analysis by Application and Region:

  • The market, on the basis of application, can be divided into cordage, ropes and yarns, paper and pulp, handicrafts, and fibre craft, among others.
  • The regional markets for abaca fibre include North America, Europe, the Asia Pacific, LAMEA.

 

Key Findings of the Report:

  • The rising demand for natural fibres owing to the growing environmental consciousness is aiding the market growth.
  • The market is being driven by the extensive use of abaca fibres in the production of thin, versatile, and strong speciality papers.
  • The extensive use of abaca fibre as a substitute for glass fibres is propelling the industry growth.
  • Increasing research to develop more superior and innovative abaca fibres is augmenting the market growth.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global abaca fibre market for the periods (2018-2023) and (2024-2032).
  • The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications and regions of abaca fibre.
  • It assesses the regional price trends for the (2018-2023) and (2024-2032) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global market for abaca fibre are Ahlstrom-Munksjö, Simor Abaca Products, Glatfelter Corporation, Naturi Alam Semesta, Wigglesworth & Co. Limited, and Specialty Pulp Manufacturing, Inc., amung others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

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