Abaca Fiber Market is expected to expand at a CAGR of 15.1% from 2021 to 2028
Abaca Fiber Industry Overview The global abaca fiber market size was estimated at USD 420.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028. Rapidly rising usage of abaca fiber in the growing pulp and paper industry for applications such as cigarette filter papers, tea, and coffee bags, and disposable medical and food papers is expected to drive the market. The production of abaca fiber is dominated by three countries including Costa Rica, the Philippines, and Ecuador. The lockdown regulations imposed in the abaca fiber-producing economies due to subsequent waves of COVID-19 impacted the production activities for a brief period, thus restricting the overall market growth in 2020 - 2021. Gather more insights about the market drivers, restrains and growth of the Global Abaca Fiber Market European and North American countries such as the U.K., Germany, the U.S., Canada, and France are among the larges...