Abaca Pulp Market Size Worth $1.42 Billion By 2032 CAGR 13.7%

Abaca Pulp Market Size Worth $ 1.42 Billion By 2032 | CAGR: 13.7%


The global abaca pulp market size is expected to reach USD 1.42 billion by 2032, according to a new study by Polaris Market Research. The report “Abaca Pulp Market Share, Size, Trends, Industry Analysis Report, By Product (Medical Filter Papers, Food Preparation Papers, Others), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Abaca fibres are renowned for their remarkable strength and durability, making them well-suited for industries where robustness and longevity are paramount, including ropes, specialty papers, & construction materials. The consistent need for dependable and enduring products has resulted in a sustained demand for abaca pulp. Notably, abaca pulp is biodegradable, presenting an appealing option for industries searching for alternatives to synthetic and non-biodegradable materials. As governmental bodies and consumers advocate for environmentally friendly products, the biodegradable nature of this pulp distinguishes it from other alternatives.

Abaca pulp is the preferred choice for the specialty papers such as tea bags, currency paper, & security documents. The growth of the beverage industry, particularly the increasing demand for premium teas & herbal infusions, contributing to the increased demand for this product. The Food & Agriculture Organization (FAO) of the United Nations has recognized abaca as a future fibre and a substitute for synthetic fibres, aiming to promote sustainable agriculture and encourage the adoption of eco-friendly production and processing technologies. As both consumers & industries prioritize sustainable materials, the demand for pulp has witnessed a notable rise.

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The global e-commerce industry is experiencing rapid growth due to the rising trends in online shopping. The strength and moisture resistance provided by abaca fibre make it well-suited for use in packaging applications, particularly in tropical and humid environments. This is anticipated to drive the demand for packaging materials and enhance the overall industry growth in the future.

Furthermore, as companies increasingly prioritize the use of sustainable and environmentally friendly materials in their products due to growing consumer awareness of their benefits, these factors are expected to propel market growth. The pricing of abaca pulp is influenced by various factors, including labour costs, raw material expenses, transportation charges, and logistical costs. Additionally, the utilization of specialized machinery and tools for pulp production contributes to the overall product cost.

The raw materials needed for producing this pulp are costly and demand a skilled workforce, leading to an increase in the final product cost. For example, according to the Philippine Fiber Industry Development Authority (PhilFIDA), in 2020, there was a deficit of nearly, 125,000 MT in abaca supply, and in 2023, abaca production decreased by 25% due to limitations in transportation.

Abaca Pulp Market Report Highlights

  • Food preparation paper dominated the market, primarily due to rise in use of bio-degradable & composite materials in one-time serving items such as tea & coffee
  • Medical filter paper segment expected to grow at the fastest rate, owing to its high use single-use medical disposables
  • Asia pacific will grow rapidly, primarily due to rise in consumption of ready to drink coffee, tea, and drinks
  • The key market players include Ahlstrom, ALINDECO, Glatfelter Corporation, Preservation Equipment, Pulp Specialties, Terranova Papers, and University Products.

Polaris Market Research has segmented the abaca pulp market report based on product, and region:

Abaca Pulp, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • Food Preparation Papers
  • Medical Filter Papers
  • Others

Abaca Pulp, Regional Outlook (Revenue - USD Biliion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Abaca Pulp Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 510.43 million

Revenue forecast in 2032

USD 1427.69 million

CAGR

13.7% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2032

Segments covered

By Product, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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