Philippines abaca fibre market is expected to register a Compound Annual Growth Rate (CAGR) of around 5.7 per cent from 2014 to 2019, according to a recently published TechSci Research report titled “Philippines Abaca Fibre Market Forecast & Opportunities, 2019”.
The report reveals that owing to the increasing use of abaca fibre in manufacturing of speciality paper, the demand for the fibre among pulp manufacturers is constantly surging and the trend is expected to prevail during 2014-19.
The Government of Philippines is also taking initiatives to promote the production of high-quality abaca fibre in the domestic market. Owing to these developments, the Philippines is expected to further strengthen its market positioning as the most dominant abaca fibre market over the next five years, and consequently create additional growth opportunities for new players to foray into the market, according to the report.
The report has evaluated the future growth potential of abaca fibre market in the Philippines and provides statistics and information on market structure and consumer behaviour trends. The report includes abaca fibre market projections and demands forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Philippines abaca fibre market.
In the Philippines, abaca plant is cultivated across 130 thousand hectares of land by over 90 thousand farmers. Abaca fibre is primarily used as a raw material by end user industries such as pulp & paper, fibre craft, cordage, etc.
TechSci Research is a global market research and consulting company provides market research consulting services in information technology, chemicals, water & water recycling, consumer goods & retail, automotive and energy & power. (GK)
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