Abaca Fiber Market Size Worth $1.7 Billion By 2028 | CAGR: 15.1%
Abaca Fiber Industry Overview The global abaca fiber market size is expected to reach USD 1.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.1% from 2021 to 2028. Growing emphasis by governments across various countries towards the adoption of natural fibers is expected to drive market growth as a substitute for hazardous synthetic fibers and metals in various industries. Abaca Fiber Market Segmentation Grand View Research has segmented the global abaca fiber market on the basis of product and region: Based on the Product Insights, the market is segmented into Pulp & Paper, Fiber Craft, Cordage, Textile, Others. The pulp and paper product segment led the market and accounted for the largest revenue share of more than 82.0% in 2020. This is attributed to the rising demand for non-wood fibers as raw materials for specialty paper applications. Specialty paper made using ab...