Abaca Fiber Market Synopsis

Abaca Fiber Market Size Was Valued at USD 0.7 Billion in 2023, and is Projected to Reach USD 2.5 Billion by 2032, Growing at a CAGR of 15.3% From 2024-2032.

Abaca fiber more commonly called Manila hemp is a vegetable fiber that comes from the sterile stalks of the Musa textilis commonly referred to as banana plant from the Philippines. The high-strength biodegradable and sustainable fiber is well known for its excellent mechanical properties as well as resistance to decomposition by saltwater, establishing itself as a versatile material suited to many industries. It has a main application in cords, ropes, marine, specialty papers, textiles and other forms of composites. Because of this, the abaca fiber is slowly catching up as an environmentally friendly material with better physical characteristics than synthetic fibers, which are not friendly to the environment.

  • Market of abaca fiber has been increasing continuously due to increased consumer consciousness towards ecofriendly and bio degradable fiber for a number of applications.. As of 2023, its application has been witnessed across the global market particularly in textiles and paper industry, automotive industry and construction sector focusing mainly on the utilization of abaca fiber packagings and biodegradable materials for plastics. Due to the global increase in demand for environmental-friendly products and the material’s uniqueness, abaca fiber has revolutionized the market and has widely embraced across industrial and consumer products. Philippines for instance is a major producer of abaca, and has been very instrumental in the growth of the industry.
  • A second important driver for the growing market is the increased concern for natural fibers as an alternative to synthetic ones especially in the developed countries especially the North America and Europe.. Recent trends have evidenced industries looking for means and methods to reduce emissions and meet rigorous ecological standards; in this light, abaca fiber’s light weight, high strength, and renewability are key advantages. Also, there is an elemental tendency towards the utilization in the automotive sector of reinforcement for plastics and composite materials where the abaca fiber is steadily gaining stronger market appeal in industrial production. Although these have been improved, the market still experiences challenges concerning abaca which is mostly produced in a limited geographical areas hence supply shocks and price risks.

Abaca Fiber Market Trend Analysis

Growing Demand for Sustainable Products

  • Another rising phenomenon in the abaca fiber market is the growing request for ent natural, environment friendly fibre.. Considering the increasing concern of people towards the negative impacts of synthetic fibers and non-recyclable plastics throughout the world, industries have been in a constant pursuit of finding the substitutes which can offer the same benefits in terms of functionality but at the same time they have a far less impact on the environment. Here is a product that is made from abaca fiber, which is biodegradable and renewable, a perfect fit to take up this value added. This is because its use in packaging, paper and textile industries has increased astronomically due to concern about synthetics and to capture the market of green consumers. For instance, the use of the abaca fiber is touted to be a better solution to that of plastics within the container and packaging field particularly for short-term use products. With consumers and companies insisting on environmentally friendly products and solutions, this product is likely to experience steady market growth.

Emerging Opportunities in High-Tech Industries

  • The growing use of the abaca fiber in hi-tech sectors is another attractive business opportunity for the market.. Originally used in automotive and aerospace industries because those fields needed exceptionally strong, yet lightweight materials, abaca fiber is becoming increasingly popular in electronics as well. For example, applications have been made in the use of abaca for composites used in car parts to decrease the over all weight hence improving the efficiency of fuel consumption and decreasing carbon dioxide emission. Also, the sustainability of the material is well aligned with the modern goals of global net-zero emission due to the renewability and biodegradability of abaca fiber and offers lucrative growth prospects. Moving forward as research and development progresses even further, the use of abaca fiber in high end engineering materials such as biocomposites and industrial high strength textiles could push the market to higher levels. The. opportunity for innovation in this natural fiber market is huge and the companies that are able to unlock it will be in the position to lead the sustainable industrial revolution.

Abaca Fiber Market Segment Analysis:

Abaca Fiber Market Segmented on the basis of Product and  End Use.

By Product, Fine Abaca Fiber segment is expected to dominate the market during the forecast period

  • Among the multiple segments of the abaca fiber market, the Fine Abaca Fiber segment is expected to lead the market through 2025, mainly because of its wide ranging applications such as use in textiles, aerospace, racing car industry, and so on due to its high quality and durability.. It is interesting to note that fine abaca fiber is smooth textured highly tensile and flexible material making it suitable for making body of currency notes with filter paper and tea bags. Its fine quality also makes it in high demand in textile and fashion sector especially for expensive wears because of its feel and environmental friendly aspects.
  • Moreover, due to its increasing popularity of environmentally friendly packaging material, fine abaca fiber has an increasing market for it as a raw material for packaging.. The rising consciousness of consumers regarding natural fibers being better for the environment than synthetic ones is likely to further enhance the growing supremacy of this segment, particularly given the fact that the use of superior quality sustainable materials will become increasingly important to manufacturers.

By End Use, Paper & Pulp segment expected to held the largest share

  • Geographically, the Paper & Pulp segment is expected to hold the largest market share of the abaca fiber market in the forecast year due to the increased demand for abaca plants in the specialty paper industry.. Its strength, durability and wear resistance’s make abaca ideal for use in manufacturing high performance paper for use in bank notes, cigarettes papers, filter papers, technical and specialty papers among others. In addition, natural strength and flexibility to environmental pressure also serve it right to be used in a variety of products that call for durability as in the case with paper. Also, the general global concern with ecological changes has prompted the transition from the conventional wood pulp to the abaca fiber which is environmentally friendly most importantly renewable.
  • All the nations that have largescale paper industries especially across the Asia and European nations they are the key drivers of abaca fiber demand since paper manufacturers are under pressure to look for ways of cutting down their impact on the environment and at the same time delivering high-quality paper products.. Therefore the Paper & Pulp segment is likely to further stay on top of the abaca fiber market due to the increasing need for high-strength and sustainable paper.

Abaca Fiber Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

  • Also, in the year 2023 the Asia Pacific specifically, Philippines has the highest market of abaca fiber.. Abaca fiber which is one major product that is used in manufacturing, has Philippines as its largest producer since it supplies 85% of the world’s total abaca. Other major suppliers in the area are Ecuador and Costa Rica but they are not as main as the Philippines. This region has the greatest dominance because of the right climatic condition for banana cultivation and existing banana growing techniques in the Philippines.
  • Moreover, the region has been boosted by exporters of abaca to the fast growing international markets such as China and Japan that have embraced the fibre for its environmental and reputably quality.. For the year 2023, the Asia-Pacific takes about 70-75% share in the global abaca fiber market due to the increased domestic production, as well as increase in exports. While the world is in search of more sustainable fibers, the region is expected to remain as the leader in production that can manipulate supply chain and price of fibers all over the world.

Active Key Players in the Abaca Fiber Market

  • Asia-Pacific Rayon (Indonesia)
  • Celso Perez Corporation (Philippines)
  • Ching Bee Trading Corporation (Philippines)
  • El Naturalista (Spain)
  • Far Eastern Manufacturing Co. (Philippines)
  • Heng Huat Resources Group Berhad (Malaysia)
  • MAP Enterprises (Philippines)
  • Peral Enterprises (Philippines)
  • PHLOX Fiber (Philippines)
  • Sargasso Export Company (Philippines)
  • Selco Manufacturing Corporation (Philippines)
  • Siegfried Enterprises (Philippines)
  • Specialty Pulp Manufacturing, Inc. (Philippines)
  • Tag Fibers, Inc. (Philippines)
  • Yzen Pacific Industrial Inc. (Philippines) and Other Key Players

Global Abaca Fiber Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 0.7 Bn.

Forecast Period 2024-32 CAGR:

 15.3%

Market Size in 2032:

USD 2.5 Bn.

Segments Covered:

By Product

  • Fine Abaca Fiber
  • Rough Abaca Fiber

By End Use

  • Paper & Pulp
  • Fiber Craft
  • Cordage
  • Other

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Demand for Sustainable Fibers

Key Market Restraints:

  • Limited Geographic Production

Key Opportunities:

  • Expansion into New Applications

Companies Covered in the report:

  • Asia-Pacific Rayon (Indonesia), Celso Perez Corporation (Philippines), Ching Bee Trading Corporation (Philippines), El Naturalista (Spain) and Other Major Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Abaca Fiber Market by Product
 4.1 Abaca Fiber Market Snapshot and Growth Engine
 4.2 Abaca Fiber Market Overview
 4.3 Fine Abaca Fiber
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Fine Abaca Fiber: Geographic Segmentation Analysis
 4.4 Rough Abaca Fiber
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Rough Abaca Fiber: Geographic Segmentation Analysis

Chapter 5: Abaca Fiber Market by End Use
 5.1 Abaca Fiber Market Snapshot and Growth Engine
 5.2 Abaca Fiber Market Overview
 5.3 Paper & Pulp
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Paper & Pulp: Geographic Segmentation Analysis
 5.4 Fiber Craft
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Fiber Craft: Geographic Segmentation Analysis
 5.5 Cordage
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Cordage: Geographic Segmentation Analysis
 5.6 Others
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Others: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Abaca Fiber Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 ASIA-PACIFIC RAYON (INDONESIA)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 CELSO PEREZ CORPORATION (PHILIPPINES)
 6.4 CHING BEE TRADING CORPORATION (PHILIPPINES)
 6.5 EL NATURALISTA (SPAIN)
 6.6 FAR EASTERN MANUFACTURING CO. (PHILIPPINES)
 6.7 HENG HUAT RESOURCES GROUP BERHAD (MALAYSIA)
 6.8 MAP ENTERPRISES (PHILIPPINES)
 6.9 PERAL ENTERPRISES (PHILIPPINES)
 6.10 PHLOX FIBER (PHILIPPINES)
 6.11 SARGASSO EXPORT COMPANY (PHILIPPINES)
 6.12 SELCO MANUFACTURING CORPORATION (PHILIPPINES)
 6.13 SIEGFRIED ENTERPRISES (PHILIPPINES)
 6.14 SPECIALTY PULP MANUFACTURING
 6.15 INC. (PHILIPPINES)
 6.16 TAG FIBERS
 6.17 INC. (PHILIPPINES)
 6.18 YZEN PACIFIC INDUSTRIAL INC. (PHILIPPINES)
 6.19 OTHER KEY PLAYERS.

Chapter 7: Global Abaca Fiber Market By Region
 7.1 Overview
7.2. North America Abaca Fiber Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Product
  7.2.4.1 Fine Abaca Fiber
  7.2.4.2 Rough Abaca Fiber
  7.2.5 Historic and Forecasted Market Size By End Use
  7.2.5.1 Paper & Pulp
  7.2.5.2 Fiber Craft
  7.2.5.3 Cordage
  7.2.5.4 Others
  7.2.6 Historic and Forecast Market Size by Country
  7.2.6.1 US
  7.2.6.2 Canada
  7.2.6.3 Mexico
7.3. Eastern Europe Abaca Fiber Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Product
  7.3.4.1 Fine Abaca Fiber
  7.3.4.2 Rough Abaca Fiber
  7.3.5 Historic and Forecasted Market Size By End Use
  7.3.5.1 Paper & Pulp
  7.3.5.2 Fiber Craft
  7.3.5.3 Cordage
  7.3.5.4 Others
  7.3.6 Historic and Forecast Market Size by Country
  7.3.6.1 Bulgaria
  7.3.6.2 The Czech Republic
  7.3.6.3 Hungary
  7.3.6.4 Poland
  7.3.6.5 Romania
  7.3.6.6 Rest of Eastern Europe
7.4. Western Europe Abaca Fiber Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Product
  7.4.4.1 Fine Abaca Fiber
  7.4.4.2 Rough Abaca Fiber
  7.4.5 Historic and Forecasted Market Size By End Use
  7.4.5.1 Paper & Pulp
  7.4.5.2 Fiber Craft
  7.4.5.3 Cordage
  7.4.5.4 Others
  7.4.6 Historic and Forecast Market Size by Country
  7.4.6.1 Germany
  7.4.6.2 UK
  7.4.6.3 France
  7.4.6.4 Netherlands
  7.4.6.5 Italy
  7.4.6.6 Russia
  7.4.6.7 Spain
  7.4.6.8 Rest of Western Europe
7.5. Asia Pacific Abaca Fiber Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Product
  7.5.4.1 Fine Abaca Fiber
  7.5.4.2 Rough Abaca Fiber
  7.5.5 Historic and Forecasted Market Size By End Use
  7.5.5.1 Paper & Pulp
  7.5.5.2 Fiber Craft
  7.5.5.3 Cordage
  7.5.5.4 Others
  7.5.6 Historic and Forecast Market Size by Country
  7.5.6.1 China
  7.5.6.2 India
  7.5.6.3 Japan
  7.5.6.4 South Korea
  7.5.6.5 Malaysia
  7.5.6.6 Thailand
  7.5.6.7 Vietnam
  7.5.6.8 The Philippines
  7.5.6.9 Australia
  7.5.6.10 New Zealand
  7.5.6.11 Rest of APAC
7.6. Middle East & Africa Abaca Fiber Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Product
  7.6.4.1 Fine Abaca Fiber
  7.6.4.2 Rough Abaca Fiber
  7.6.5 Historic and Forecasted Market Size By End Use
  7.6.5.1 Paper & Pulp
  7.6.5.2 Fiber Craft
  7.6.5.3 Cordage
  7.6.5.4 Others
  7.6.6 Historic and Forecast Market Size by Country
  7.6.6.1 Turkey
  7.6.6.2 Bahrain
  7.6.6.3 Kuwait
  7.6.6.4 Saudi Arabia
  7.6.6.5 Qatar
  7.6.6.6 UAE
  7.6.6.7 Israel
  7.6.6.8 South Africa
7.7. South America Abaca Fiber Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Product
  7.7.4.1 Fine Abaca Fiber
  7.7.4.2 Rough Abaca Fiber
  7.7.5 Historic and Forecasted Market Size By End Use
  7.7.5.1 Paper & Pulp
  7.7.5.2 Fiber Craft
  7.7.5.3 Cordage
  7.7.5.4 Others
  7.7.6 Historic and Forecast Market Size by Country
  7.7.6.1 Brazil
  7.7.6.2 Argentina
  7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
 

Global Abaca Fiber Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 0.7 Bn.

Forecast Period 2024-32 CAGR:

 15.3%

Market Size in 2032:

USD 2.5 Bn.

Segments Covered:

By Product

  • Fine Abaca Fiber
  • Rough Abaca Fiber

By End Use

  • Paper & Pulp
  • Fiber Craft
  • Cordage
  • Other

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Demand for Sustainable Fibers

Key Market Restraints:

  • Limited Geographic Production

Key Opportunities:

  • Expansion into New Applications

Companies Covered in the report:

  • Asia-Pacific Rayon (Indonesia), Celso Perez Corporation (Philippines), Ching Bee Trading Corporation (Philippines), El Naturalista (Spain) and Other Major Players.
Please Wait...

Frequently Asked Questions :

What would be the forecast period in the Abaca Fiber Market research report?

The forecast period in the Abaca Fiber Market research report is 2024-2032.

Who are the key players in the Abaca Fiber Market?

Asia-Pacific Rayon (Indonesia), Celso Perez Corporation (Philippines), Ching Bee Trading Corporation (Philippines), El Naturalista (Spain) and Other Major Players.

What are the segments of the Abaca Fiber Market?

The Abaca Fiber Market is segmented into Product, End Use, and region. By Product, the market is categorized into Fine Abaca Fiber, Rough Abaca Fiber. By End Use, the market is categorized into Paper & Pulp, Fiber Craft, Cordage, Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Abaca Fiber Market?

Abaca fiber more commonly called Manila hemp is a vegetable fiber that comes from the sterile stalks of the Musa textilis commonly referred to as banana plant from the Philippines. The high-strength biodegradable and sustainable fiber is well known for its excellent mechanical properties as well as resistance to decomposition by saltwater, establishing itself as a versatile material suited to many industries. It has a main application in cords, ropes, marine, specialty papers, textiles and other forms of composites. Because of this, the abaca fiber is slowly catching up as an environmentally friendly material with better physical characteristics than synthetic fibers, which are not friendly to the environment.

How big is the Abaca Fiber Market?

Abaca Fiber Market Size Was Valued at USD 0.7 Billion in 2023, and is Projected to Reach USD 2.5 Billion by 2032, Growing at a CAGR of 15.3% From 2024-2032.