Paper & Pulp Industry to Dominate Philippines Abaca Fiber Market During Forecast Period

Increasing demand from various end user industries to propel Philippines Abaca Fiber market

According to TechSci Research report, “Philippines Abaca Fiber Market By Fiber Size, By Strand, By End User Industry, Competition, Forecast & Opportunities, 2024”, the Philippines abaca fiber market is forecast to grow at around 6% during 2019 – 2024 owing to the properties possessed by the abaca fibers such as resistance against salt water, high tensile strength, lower elongation, among others. Additionally, abaca fibers help in preventing soil erosion and holding water. They are also sustainable and biodegradable, which is further propelling their market demand. However, these fibers cannot be mixed uniformly with polymer composites due to their natural properties, which complicates the composite fabrication process in textile industry, thereby limiting their use in textile industry.

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The Philippines abaca fiber market is segmented based on fiber size, strand yarn, end user industry, company and region. Based on fiber size, the market can be fragmented into up to 3mm, up to 4mm, up to 5mm, up to 6mm & above 6mm. The up to 5mm segment is expected to hold significant market share since it is the most popular type of fiber size used for making ropes. Based on end user industry, the market can be categorized into paper & pulp, fiber craft, cordage, automotive and others. The paper & pulp industry is expected to dominate the market during forecast period. This can be accredited to the widespread use of abaca fibers in tea and coffee bags, sausage casing paper, currency notes (Japan’s yen banknotes contain up to 30% abaca), cigarette filter papers, medical/food preparation/disposal papers, high-quality writing paper, vacuum bags, among others.

Ching Bee Trading Corporation, Tag Fibers Inc., MAP Enterprises Inc., Yzen Handicraft Export Trading, Peral Enterprises, Selinrail International Trading, etc., are some of the leading players operating in the Philippines abaca fiber market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Philippines abaca fiber market is expected to witness substantial growth during the forecast period since it is the world’s largest producer of abaca fibers. Considerable portion of produced fiber in Philippines is internally consumed while a major portion is exported to various countries including the US, Japan and other European countries. Additionally, the government of Philippines is taking supportive initiatives to increase production levels of high-quality abaca fiber for domestic consumption as well as for exports. This is expected to further strengthen the country’s market positioning in the global abaca fiber market and open diverse market opportunities for new players during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Philippines Abaca Fiber Market By Fiber Size, By Strand, By End User Industry, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Philippines abaca fiber market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Philippines abaca fiber market.

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