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The global abaca fibre market was valued at USD 643 million in 2023 and grew at a CAGR of 15% from 2024 to 2033. The market is expected to reach USD 2601.29 million by 2033. The increasing demand for sustainable materials in the contemporary economy will drive the growth of the global abaca fibre market.
Abaca fibre is a fibre extracted from the stalks of Musa textilis usually referred to as the abaca or Manila hemp. It is a fibrous plant originating in Philippines and some other countries of South-East Asia. It grows more in the tropical region especially regions with black soil that allows good drainage. After cultivation, the main steps include pulling the leaves out of the plant and separating its stalks, retting, washing and drying of the fibres. Following this the fibres are converted to yarns or can be used in their undyed form depending on their application. It is famous for its excellent tensile, versatile strength and ductility which makes it a coveted commodity in industries. Abaca is a type of banana but unlike the edible banana it is grown for fibre which is sourced from the stalk of the leaves. The fibre is of relatively great length and fine in nature, and it is highly preferred in textile and industrial usage because of its high level of durability. Most of the applications of abaca fibre involves production of ropes, twines, and cords essentially due to the fibre’s high tensile strength and resistance to water. Furthermore, abaca fibre is utilized in the production of specialty papers such as tea bags, banknotes, and other specialty papers because of the material’s texture. It is environmentally friendly because it is natural and biodegradable hence suitable for environmentally friendly packaging. Apart from industrial applications, more applications have emerged especially in fashion and automotive industries. it is also ideal for use in sustainable fabrics and furnishing parts due to its high strength to weight ratio.
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The increasing demand for paper and packaging materials – Abaca is strong and long. The banana fibre is particularly suited for manufacturing high value-added specialty papers such as tea bags, banknotes, and filtration papers which require strong fine fibres. Today with the growth of environmental consciousness in packaging industries, it has led to the increasing demand for natural packaging materials such as abaca fibres. This is further compounded by consumer response to products that are recyclable and have minimal impact on the environment making abaca a good material for production of biodegradable packaging products. In the textile and fashion industries the use of abaca to produce cloth and fashion accessories is on the rise. As consumers demand clothes that follow sustainable and ethical practice, the use of abaca fabric in the fashion and textiles industries is bound to rise. Furthermore, it is widely used for marine and industrial purposes. It is widely applied to ropes, twines and cords for shipping, fishing and farming industries. therefore, the increasing demand for sustainability will contribute to the rising demand for abaca fabric in the fashion, textiles, marine, and other industrial sectors which will drive its growth during the forecast period.
Raw material availability and supply chain constraints – As abaca is mainly grown in the Philippines with a low production yield in other countries of South East Asia, its supply is highly dependent on one area only. The dependence on one particular region increases the vulnerabilities and risks of the abaca fibre market supply chain. This creates risks in the global production networks, and when manufacturing is interrupted due to calamities, climate change, or political unrest it impacts the global abaca fibre market. Fibre extraction is performed manually by skilled personnel. therefore, large-scale production requires significant labour inputs, which increases production costs. Lack of technology impedes scalability which also contributes to the market’s low growth and stagnation. Abaca is also at risk for diseases that have a huge impact to its production and growth. These diseases, plus the comparatively long time it takes for infected crops to recover, bring instability into the supply. Fluctuations in price of abaca fibre is also another factor that hinders the growth in the market. These price volatility affects cost prediction and hampers the manufacturers’ ability to sink in long-term capital or invest in abaca-based products. Such fluctuation can help to repel potential buyers, or discourage manufacturers from adopting abaca as a material for mass demand. Therefore, the volatile raw material supply, low production capabilities and uncertain supply chain parameters will hamper the market’s growth.
Increasing awareness for sustainability and eco-friendly products – Increasing awareness for sustainability and eco-friendly products all over the world is one of the major factors influencing the abaca fibre market. Industries around the world are looking for natural, bio-degradable, as well as recyclable materials instead of synthetic fibres which are polluting the environment. Considering that abaca is a renewable and eco-friendly, it is well suited to this demand. It is works well for various industries such as packaging, textile and paper industries. additionally, the consumers are now more conscious about the environment resulting in a conscious effort of the part of companies to incorporate green materials in production, which encourages the use of abaca in many sectors. Technological improvements in extraction and processing of abaca fibre has also played a significant role towards the market’s growth and development. Technological advancements in techniques employed in abaca harvesting and the subsequent refining have also reduced costs within the industry and therefore extended availability of abaca fibre within the market. New methods of fibre processing have made it possible to widen its application and use in different areas including the production of clothing and industrial uses. Agricultural incentives offered by the governments, especially in the Philippines, have played significant role in the stabilisation and growth of the abaca industry. Therefore, increasing awareness, government support and technological advancements contribute to global abaca fibre market’s growth.
The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global abaca fibre market, with a 40% market revenue share in 2023.
The Asia-Pacific market has a major share of the total market of abaca fibre majorly because of Philippines that is the largest producer as well as exporter of abaca. Its climatic conditions, labour force density and prior agricultural practice all make the cultivation of abaca highly efficient. Consequently, the Philippines is solely responsible for more than 85% of world abaca production, it means it has a dominant position in the market. This is further backed up by the existing fibres processing infrastructure in the country with its ability to produce high value abaca in a timely and efficient manner for export. Furthermore, the need for environmentally friendly products, especially in sectors such as packaging and textile industries has also increased the demand for abaca fibre in the region.
Asia Pacific Region Abaca Fibre Market Share in 2023 - 40%
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The application segment is divided into textiles, paper and packaging, ropes and cords, automotive and others. The paper and packaging segment dominated the market, with a market share of around 35% in 2023. Abaca fibre is preferred for its high strength, durability which leads to the production of high-quality paper and packaging materials. Abaca is impervious to water which makes it ideal for diverse packaging needs. Further, the trend towards the use of environmental-friendly products also contributes to the growing use of abaca in this industry. There is a very high demand in sustainable packaging solutions and especially now that consumers are more conscious about the environmental footprint of products the demand for abaca fibre in the paper and packaging industry is bound to rise.
The product type segment is divided into raw fibre and processed fibre. The processed fibre segment dominated the market, with a market share of around 84% in 2023. Abaca fibre after passing through processing receives refining and spinning, and is prepared in yarns or other finished forms for use in textiles, paper, and industries. This has led to a great improvement in the quality of the processed fibre and is highly appropriate in the production of Fabrics, ropes and quality paper. As for textiles, more and more people prefer processed abaca due to its characteristics such as high strength, softness and naturalness, which is suitable for creating fashion accessories, home decoration goods and so on. Processed fibre also prevails in both the paper and packaging merchandise. Generally, the mechanical properties of the processed abaca fibre improve the quality of these paper products and therefore abaca fibre is preferred to raw fibre. Also, processed fibres tend to be of uniform and have standardized physical structure and colour and this makes it easier to mass produce fibres.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Million) |
| Market size value in 2023 | USD 643 Million |
| Market size value in 2033 | USD 2601.29 Million |
| CAGR (2024 to 2033) | 15% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analysed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analysed at the country level. |
| Segments | Application and Product Type |
As per The Brainy Insights, the size of the global abaca fibre market was valued at USD 643 million in 2023 to USD 2601.29 million by 2033.
Global abaca fibre market is growing at a CAGR of 15% during the forecast period 2024-2033.
The market's growth will be influenced by the increasing demand for paper and packaging materials.
Raw material availability and supply chain constraints could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global abaca fibre market based on below mentioned segments:
Global Abaca Fibre Market by Application:
Global Abaca Fibre Market by Product Type:
Global Abaca Fibre Market by Region:
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