Vulcanized Fiber Market Research Report Information By Type (Commercial Grade, Electrical Grade, Trunk Grade, Bone Grade, Abrasive Grade, Flexible Grade, Others), Application (Electrical, Abrasive, Textiles, Automotive, and Others) And By Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast Till 2030

Global Vulcanized fiber Market Overview

vulcanized fiber Market Size was valued at USD 1.39 billion in 2021. The vulcanized fiber market industry is projected to grow from USD 1.46 Billion in 2022 to USD 2.23 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.47% during the forecast period (2022 - 2030). Market expansion for vulcanized fiber is being propelled by rising demand from the electrical and electronics sector. This is because of its strong mechanical strength, low weight, high dielectric strength, low electrical conductivity, high surface resistance to punching, and anti-static qualities. Demand for vulcanized fiber in electrical and electronics applications is expected to grow along with the widespread use of electrical and electronic gadgets including smartphones, laptops, and video game consoles.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vulcanized fiber Market Trends

• High Demand Due To Use of vulcanized fiber As A Backing Material For Fiber Discs

Vulcanized fiber discs are round grinding wheels with a vulcanized fiber backing; the wheels are coated on one side with a resin or abrasive grain. These discs are used on angle grinders, primarily for metal machining. They have a wide range of applications ranging from rough machining to surface finishing. Because of its elasticity and adaptability, vulcanized fiber is becoming more popular as a backing in fiber discs. When compared to abrasive mop discs and grinding discs, fiber discs have advantages such as fine and uniform scratch patterns and lower cost. The vulcanized fiber discs are predominantly used for machining of stainless steel, steel, cast iron, sheet steel, and high-alloy steel. Steel finds increasing applications in the body structure, panels, doors, engine blocks, gears, suspension, wheels, fuel tanks, steering, and braking systems of automobiles. Furthermore, the increased demand in the metal fabrication from various end-use industries such as automotive, architecture, aerospace and others may drive the growth in the vulcanized fiber market.

Stricter emission regulations, lower battery costs, more widely available charging infrastructure, and growing consumer acceptance is creating new and strong momentum for electrified vehicle penetration (hybrid, plug-in hybrid, battery electric, and fuel cell) in the forecast period. This is expected to propel the demand for vulcanized fiber, on account of the increasing use of various grades of AHSS in automobile manufacturing. The growth is supported by the increasing need for the reduction of vehicular emissions owing to the stringent regulations by the US Environmental Protection Agency and the European Legislation for environmental protection. The growing adoption of electric vehicles and hybrid vehicles to curb CO2 emissions as well as to reduce the use of petrochemicals has increased their production, as per the International Organization of Motor Vehicle Manufacturers, the share for electrified vehicles is expected to be around 10%-50% of new vehicle sales, which consequently is expected to drive the demand for steel and boost the demand for vulcanized fiber. Thus, the growing use of vulcanized fiber as a backing material for fiber discs is expected to fuel the  vulcanized fiber market growth during the forecast period. The  automotive market is growing at a CAGR of 5.67% in production, is projected to reach 122.83 million units by 2030. In the APAC region, India's passenger car market is growing at a faster rate, it was valued at US$ 32.70 billion in 2021, and it is expected to grow to US$ 54.84 billion by 2027, with a CAGR of more than 9% between 2022 and 2030 according to IBEF.

Figure 1:  Vehicle Sales, 2014-2026 (Mn Units)

Source: Annual Reports, MRFR Analysis

The grinding operation, in the construction industry include cutting of reinforcement bars (rebar), protruding bolts, or anything else that requires immediate removal or trimming. The construction industry is subjected to growth pertaining to the rise in infrastructural development in major parts of the world supported by the government initiatives and policies. Thus, the growth in the construction industry might bolster the growth in the vulcanized fiber discs in the market, which in turn might propel the growth in the vulcanized fiber market. Thus, the increase in the production of e-vehicle coupled with gasoline-based counterparts is expected to increase the vulcanized fiber market revenue generation opportunities during the assessment period.

Vulcanized Fiber Market Segment Insights

Vulcanized Fiber Type: Market Insights

The  vulcanized fiber market segmentation, based on the type, includes commercial grade, electrical grade, trunk grade, bone grade, abrasive grade, flexible grade and others. The commercial vulcanized fiber segment held the majority share in 2021 contributing to around ~31.3% concerning the  vulcanized fiber market revenue. It is followed by electrical grade, which accounted for nearly 26.4% as of 2021. Fish paper, an electrical grade vulcanized fiber, is extensively used for insulating electric motors, generators, and transformers because to its high tensile strength, low dielectric constant, and high bending flexibility.

A dark blue fish paper with exceptional dielectric, tensile, bending strength, strong, smooth, and excellent punching and forming characteristics is best suited for insulation for armature slots, liners, washers, coil insulation, arc shields, formed specialties, and gasket stock. This is poised to positively impact the vulcanized fiber industry in the medium-term forecast period.

Figure 2:  vulcanized fiber Market, by Type, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vulcanized Fiber Application: Market Insights

The  vulcanized fiber market data has been bifurcated by application to electrical, abrasive, textiles, automotive, and others. Out of these, electrical application held majority share in the vulcanized fiber market and stood at 42.1% by revenue generated in 2021. Due to vulcanized fibres’ durability, flexibility, and lightweight properties, there is rising interest in the consumer electronics like home appliances, personal computers, cell phones and gaming gadgets. Furthermore, the market growth is attributed to growth in consumer electronics attributed to the rising production and closeout of items as a result of customers' high disposable cash and changing lifestyle patterns is expected to drive demand for vulcanized fiber during the market forecast period.

By 2030's end, experts predict that the worldwide electrical and electronics industry will be worth USD 1,131.02 billion. The increase is primarily due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously resulted in restrictive containment measures such as social distancing. Due to their high heat resistance, water resistance, flexibility, and bonding in demanding applications such as home appliances, gadgets, and other applications. This has further broadened the growth opportunity for the vulcanized fiber industry.

Figure 2:  vulcanized fiber Market, by Application, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vulcanized Fiber Regional Market Overview

The North America vulcanized fiber market accounted for USD 337.9 million in 2022 and is expected to exhibit a 4.30% market CAGR during the study period. vulcanized fibers are laminated plastics composed of cellulose, which offer high chemical and mechanical properties. The  vulcanized fiber market is expanding as a result of the increasing use of vulcanized fiber in the electrical and electronics industries due to its excellent electrical properties, exceptional dimensional stability, mechanical strength, lightweight, and dielectric strength.

Similarly, the increasing use of vulcanized fiber as a backing material for fiber discs, particularly in the automotive industry, as well as its use in the manufacture of bobbins and gluing shuttles to power looms in the textile and apparel industries and other end-use industries, are expected to positively influence  market growth.

However, the availability of close substitutes, is expected to stymie  market growth during the forecast period. The fluctuating production of raw material in the forecast period might pose a challenge in the vulcanized fiber market growth.

Figure 3:  VULCANIZED FIBER MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The  vulcanized fiber market has been studied in the following regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these, Asia-Pacific dominated the market with a share of 46.10%, accounting for USD 644.7 million in 2021; it is expected to register the highest CAGR of 6.2% from 2022 to 2030. North America was the second largest, with a share of 23.26% in 2021, with a market size of USD 325.3 million; it is projected to exhibit a CAGR of 4.3%.

The North America vulcanized fiber market is expected to expand at a robust rate over the projected period, according to Market Research Future. Companies are experiencing growth because they are restructuring and recovering from the effects of COVID-19, which led to the implementation of stringent containment measures like social isolation, remote work, and the suspension of business operations, all of which posed difficulties for daily operations. Vulcanized fiber is in high demand since the market is expanding in response to rising consumer spending.

Due to the sizeable vulcanized fiber industry in the region, Asia-Pacific is poised to become the fastest-growing vulcanized fiber market worldwide. Increasing demand for electrical and automotive in developing nations like China and India is also expected to boost the vulcanized fiber market over the forecast period. The electronics and automotive, consumer electronics, and abrasive industries have been driving the need for vulcanized fiber in the Asia-Pacific region.

Europe’s vulcanized fiber market accounts for the third largest market share as of 2021. It is valued at USD 280.1 million in 2022 and is poised to grow at a CAGR of 5.51%. A potential growth-stifling factor for the British auto sector was averted when the UK and the EU reached an agreement on a trade deal for the period after Brexit. This will aid the UK vulcanized fiber market in the long run which is poised to grow at 3.91% CAGR during 2022-30. Germany vulcanized fiber market accounted for nearly 25.6% market share in 2022 and is poised to remain the largest contributor to market revenues by 2030 growing at 6.52% CAGR during 2022-30.

The Latin America and Middle East & Africa regions are showing consistent growth during the forecast period. The latest market report from Market Research Future depicts that, due to technological developments in these countries, it is anticipated that the Middle East, Africa, and Latin America markets are poised to grow at a rapid rate over the neart-term forecast period.

Vulcanized Fiber Key Players & Market Competitive Landscape

The vulcanized fiber market is expected to expand thanks to the heavy investment in research and development by market major players. Recent market statistics show that companies have adopted a defensive stance when it comes to taking strategic steps in line with on-going market trends for market expansion. Market participants are doing to expand their  footprint, broaden their market outlook and focus on market growth.

Latest market report from Market Research Future portrays the key market players in the vulcanized fiber industry, which include Emco Industrial Plastics, Dynos GmbH, Iten Industries, Inc., ESPE Manufacturing Co., Franklin Fibre-Lamitex Corp., Hokuetsu Toyo Fibre, Thrust Industries, Oliner Fibre Co., Inc. Dante Bertoni Srl, and New Process Fibre Company Inc. They are spending a lot of money on vulcanized fibers R&D and market analysis. The  giants have a lion's share of the market, but there are also regional and local firms with smaller proportions.  corporations have spread their reach throughout the globe, opening offices and expanding their operations in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Key Companies in the vulcanized fiber market include

• Emco Industrial Plastics


• Dynos GmbH


• Iten Industries Inc.,


• ESPE Manufacturing Co.


• Franklin Fibre-Lamitex Corp.


• Hokuetsu Toyo Fibre


• Thrust Industries


• Oliner Fibre Co. Inc.


• Dante Bertoni Srl


• New Process Fibre Company Inc.

Vulcanized Fiber Industry: Market Developments

In July 2022: Dynos, a German specialty fiber company owned by Swiss M2 Capital, acquired Cheney Pulp & Paper. Through this deal, the business restructured its locations and improved its market position in the United States as a provider of vulcanized fiber, pulp, and specialty paper. Cheney Pulp and Paper, a major player in the international plant fiber processing business, Dynos uses Cheney’s expertise in the vulcanized fiber market in the United States.

Vulcanized Fiber Market Segmentation

Vulcanized Fiber Type Outlook

• Commercial Grade


• Electrical Grade


• Trunk Grade


• Bone Grade


• Abrasive Grade


• Flexible Grade


• Others

Vulcanized Fiber Application Outlook

• Electrical


• Abrasive


• Textiles


• Automotive


• Others

Vulcanized Fiber Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Mexico
  
  
  • Argentina
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of MEA