Abaca, also called as manila hemp, is extracted from the leaf sheath around the trunk of Musa textilis, a type of banana plant that is mostly found in the Philippines and humid tropics. Harvesting and cultivating abaca is a labor-intensive process as the pulp is removed by cutting strips and scraping stalks. Fibers obtained from the process are then dried and removed. Abaca fiber has high strength and is used in the paper industry for making mimeograph mats and teabags. It is also used to make handicraft such as carpets, furniture, clothing, and bags. Abaca fiber is used in fishing nets, hawsers, and shipping lines due to beneficial properties such as flexibility, durability, and saltwater resistance. It is classified as a hard fiber along with sisal, coir, and henequin. In addition, abaca fiber is used in gifts, toys, and housewares. Furthermore, it is used as an alternative to glass fiber reinforced plastics components.
Major end-use industries of abaca fiber include paper & pulp, fiber craft, and cordage. Paper & pulp industry was the largest end-use industry for abaca fiber followed by cordage manufacturing and fiber craft industry. Increasing application scope of abaca fiber in the manufacturing of specialty paper is likely to be one of the key factors to drive demand for abaca fibers in the paper & pulp industry. Rising demand for cordage in industrial applications including production of ropes for ships is expected to boost its demand over the next seven years.
Asia Pacific was the largest market for abaca fiber in terms of production and consumption over the past few years and trend is expected to continue over the forecast period. Philippines being the world\'s largest abaca producer holds the major market share in the Asia Pacific market. Considerable portion of produced abaca fiber in Philippines is internally consumes while a major portion is exported to various countries including U.S., Japan and other European countries. Government of Philippines is taking supportive initiatives to increase production levels of high quality abaca fiber for domestic consumption and export. This is expected to further strengthen its market positioning and open market opportunities for new players over the next seven years.
The Global Abaca Fiber Market was valued at xxx million USD with a CAGR xx% from 2018-2022. Subsequently, it will touch xxx million USD in 2023 with a CAGR xx % from 2023-2030.

In the global Abaca Fiber Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.

In Market segmentation by manufacturers, the report covers the following companies-
Ching Bee Trading Corporation
Peral Enterprises
MAP Enterprises
Tag Fibers
Yzen Handicraft Export
Selinrail International Trading


In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

In Market segmentation by types :
Fine Abaca Fiber
Rough Abaca Fiber

In Market segmentation by applications :
Paper & Pulp
Fiber Craft
Cordage

The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Abaca Fiber Market for the forecast period 2023-2030?
• What are the driving forces in the Abaca Fiber Market for the forecast period 2023-2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Abaca Fiber industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
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