The Abaca Fiber Market is driven by rising demand from the paper industry
The Abaca fiber market consists of fibers derived from the abaca plant, which are known for their high cellulose content and tensile strength. Abaca fibers are lustrous and durable, resistant to saltwater and ultraviolet rays. They are widely used as an alternative to glass fibers in composite applications and finding increased usage in the manufacturing of high-quality paper, pulp and paper substitutes. Abaca Fiber Market Growth are blended with other materials to make high-quality paper with good tear strength used for currency paper, filtration products. The abaca plant is primarily cultivated in the Philippines and Ecuador.
The Global Abaca Fiber Market is estimated to be valued at US$ 713.0 Mn in 2024 and is expected to exhibit a CAGR of 15.2% over the forecast period 2024 to 2031.
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