Global Abaca Fiber Market to reach USD 1126.44 million by 2027.Global Abaca Fiber Market is valued approximately at USD 420.9 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 15.1% over the forecast period 2021-2027. Abaca fiber is a vegetable leaf fiber extracted from the plant's leaf stalks. Adoption of this fiber is increasing due to its low elongation, high strength and resistance to saltwater decomposition as compared to sisal fibers and synthetic fibers. Rising demand for natural fibers in automotive industry, wide use of abaca in industries such as fiber craft, paper and pulp and codage and growing use in manufacturing of clothing, curtains and other textile products are fueling growth in abaca fiber market. For instance, according to Statista, global paper and pulp market is expected to reach USD 370 billion by 2027 from USD 348.43 billion in 2019. Furthermore, rising abaca production and growing export are expected to inject growth during forecast period. According to Statista, production volume of abaca in Philippines went up from 65000 metric tons in 2013 to 72200 metric tons in 2019. However, gap in supply and demand is expected to hamper growth in coming years.

Asia Pacific is dominating the world market in terms of revenue among Asia Pacific, North America, Europe, Latin America, and Rest of the World, and is also expected to grow with the highest growth rate during forecast period. Factors attributed to growth are growing adoption in various end-use industries such as automotive, textile, handicraft and others and presence of major abaca producing regions such as Philippines.
Major market player included in this report are:

M.A.P. Enterprises
Yzen Handicraft Export Trading
Specialty Pulp Manufacturing, Inc. (SPMI)
Ching Bee Trading Corporation
Peral Enterprises
Selinrail International Trading Company
DGL Global Ventures LLC
Terranova Papers
Tag Fibers, Inc.
Italfil Expo Bags Co., Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Pulp & Paper
Fiber Craft
Cordage
Textile
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Abaca Fiber Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors