Vulcanized Fiber Market Overview
The Vulcanized Fiber Market Research Report forecasts a CAGR of 4.62% by the year 2030. The Vulcanized Fiber generally consists of high-level electrical insulating properties and cellulose-based paperboard insulation material.
The demand for Vulcanized Fiber is growing among various industries because of its flexibility, high durability, great tensile strength, lightweight nature, adaptability, and high resilience benefits. Thus, the rising demand for vulcanized fibers among various industrial components is projected to drive the global Vulcanized Fiber Market growth during the review period. Moreover, the use of vulcanized fibers is highly supported by the government across the world, which is expected to drive market growth.
According to the global Vulcanized Fiber Market analysis, the current market has been segmented into types and applications. Further, the type segment has been categorized into flexible grade, bone grade, commercial grade, electrical grade, abrasive grade, and trunk grade. Among these, the commercial-grade segment is projected to dominate the global market by contributing 29.20% to the market share during the review period. The application segment has been segmented into parts like automotive, textile, electrical, and abrasive. The electrical segment is expected to generate the largest market share in the review period.
Sources: MRFR Analysis
Vulcanized Fiber Market Competitive Landscape:
The Vulcanized Fiber industry provides wide scope around the world for making durable, lightweight, flexible appliances like home appliances, gaming devices, phones, laptops, electrical appliances, automobiles, etc. The key players of the vulcanized fiber market are Hokuetsu Toyo Fiber Co., Emco Industrial Plastics (US), Franklin Fiber Lamitex Corporation (US), Thrust Industries (US), Oliner Fiber Co., Iten Industries, ESPE Manufacturing Co. Inc (US), Dynos GmbH (Germany), Dante Bertoni Srl (Italy), Sachsenroder (Germany), Inc (US), etc. An Indian industry named Jindal Stainless Ltd has made commendable innovation by deploying stainless steel fuel tanks for use in vehicles.
COVID-19 is one the most dangerous virus witnessed by humans in the last millennium impacting the world by the increased number of patients and death per human life. The impact of the virus is huge on human life as well as the industries around it. The prevalence of COVID-19 since the November of 2019 has held down the world economy, socially, and politically. The world had to go into complete lockdown to contain the virus in local areas. The Vulcanized Fiber Market has not seen any substantial growth in the last year due to limited manpower and resources. Industries could not process for a longer duration which held the manufacturing and thus further transportation and selling of the manufactured goods.
Vulcanized Fiber Market Dynamics: Drivers:
The high durability, lightweight nature, great tensile strength, adaptability, flexibility, and high resilience has made vulcanized fiber draw market for backing material for fiber discs. High durability is the reason Vulcanized Fiber is being considered for the stainless-steel items, alloys, cast irons, etc. With vulcanized fiber being the key essential in the automobile industry, Vulcanized Fiber Market has seen a rise in the last decade due to an increase in the number of automobiles manufactured per year. World Auto Steel invested in developing Future Steel Vehicle (FSV) have been developed on the stainless-steel items made of the vulcanized fiber reducing the vehicular mass by 35% and emissions by 70% accounting for less pollution and increasing the life of an automobile.
The vulcanized Fiber Industry size is expected to increase in the forthcoming years due to the high demand for vulcanized fibers as industrial components all around. Governments across the countries have supported the use of vulcanized fibers in the making of in-home appliances, gaming devices, phones, laptops, electrical appliances, etc. Many private investors, retailers, trade experts, and wholesalers have supported the fiber industry. Industrial activists have seen high-rise demand products made of vulcanized fiber leading to market growth throughout the world.
Vulcanized Fiber is a highly tensile and resilient induction material with high-level electrical insulating properties. Vulcanized Fiber has high resistance towards heat and cold, high mechanical strength, and high tensile strength to makes it a good conductor of electricity. It has the property of being drawn into sheets and can be cast into other forms like tubes, coil, rolls, etc. Vulcanized Fiber in high demand especially in-home appliances, gaming devices, phones, laptops, electrical appliances, etc. The vulcanized fiber draw market for backing material for fiber discs making its way into the automobile industry. Market Research Future (MRFR) estimated that the market for Vulcanized Fiber is expected to grow by more than 1500 million use dollars and registering a CAGR of 4.62% by the year 2023.
Vulcanized Fiber Market Segment Overview:
The Vulcanized Fiber industry is segmented by type as flexible grade, commercial grade, bone grade, abrasive grade, electrical grade, and trunk grade. The commercial-grade is the highly invested and profitable grade as compared to others as it involves the manufacturing of electrical appliances. Since every household and industry makes use of appliances with insulation and power resistance and switch-over failures vulcanized fiber is high in demand. The commercial-grade covers 29.2o% trade of the Vulcanized Fiber industry and is expected to generate a revenue of more than 550 million US dollars and a CAGR of 5.4% by the year 2023.
The Vulcanized Fiber industry is segmented by type as automotive, electrical, textile, and abrasive. With vulcanized fiber being the key essential in the automobile industry, Vulcanized Fiber Market has seen a rise in the last decade due to an increase in the number of automobiles manufactured per year. Therefore, the automotive-grade is likely to register a profit of 500 million US dollars by the year 2023.
Sources: MRFR Analysis
The Vulcanized Fiber industry is segmented geographically into four major regions i.e. North America, Europe, Asia-Pacific (China, Japan, India, Australia), The Middle East, Africa, and Latin America. Market Research Future (MRFR) estimated the Asia-Pacific region as the world dominant in the Vulcanized Fiber industry that could register a CAGR of more than 5.1% by the year 2023. China holds 30% of the market share in the Asia-Pacific region. Japan holding second-place accounting for the high demand for Japanese automobiles throughout the world. India has shown immense growth in the past decade by providing markets and industries to avail the use of vulcanized fiber, thereafter, offering the market to grow and a profit of about 177 million US dollars by 2023. Europe is the second most invested region in the vulcanized fiber market due to the high demand for wireless automobiles accounting for 16.7% with Germany leading the position of primary contributor in the European market.
Vulcanized Fiber Market Recent Developments:.
In January 2022
The prominent player, Atlantic Power & Infrastructure Corporation, has set up its 33,000 feet of KBI Flexi-Pave in Georgia, Beltline Walkway, and Bicycle Park. The development has aimed to help the Beltline bring down the total erosion rate due to the post-heavy storms. For instance, the prominent player JSL India has launched a new product in the automotive sector to fulfill the fuel tank demands for the domestic market with 60% of quantum.
Vulcanized Fiber Market Report Overview:
The vulcanized fiber market growth report provides a basic overview of the industry inclusive of the application, as well as the technology used for manufacturing. the report explorers the profiles of the key market players in the historic, current, as well as, future scenario, along with the expected production value by the end of the global forecast to 2023, along with the market share of companies. The report also statistically analyses the trends of the market and forecasts the value of cost and profit, along with the demand and supply. The market is divided based on segments, companies, regions, as well as, the growth and competitive opportunities available in each of them. overall, the report is an in-depth study of the market for a future growth period for the forecast year of 2023.
The Vulcanized Fiber industry is segmented by type as flexible grade, commercial grade, bone grade, abrasive grade, electrical grade, and trunk grade.
|Market Size||2030 : Significant value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hokuetsu Toyo Fiber Co., Emco Industrial Plastics (US), Franklin Fiber Lamitex Corporation (US), Thrust Industries (US), Oliner Fiber Co., Iten Industries, ESPE Manufacturing Co. Inc (US), Dynos GmbH (Germany), Dante Bertoni Srl (Italy), Sachsenroder (Germany), Inc (US), etc.|
|Key Market Opportunities||The vulcanized Fiber Industry size is expected to increase in the forthcoming years due to the high demand for vulcanized fibers as industrial components all around.|
|Key Market Drivers||The high durability, lightweight nature, great tensile strength, adaptability, flexibility, and high resilience|
Vulcanized Fiber Market is predicted to grow at 4.62% through forecast period of 2021-2030.
The forecast period for Vulcanized Fiber Market research report is 2021-2030.
Vulcanized Fiber Market is dominated by APAC region.
The major players are Emco Industrial Plastics (US), Dynos GmbH (Germany), Iten Industries, Inc (US), ESPE Manufacturing Co., Inc (US), Franklin Fibre Lamitex Corporation (US), Sachsenröder (Germany), Hokuetsu Toyo Fibre Co., Ltd. (Japan), Thrust Industries (US), Oliner Fibre Co., Inc (US), and Dante Bertoni Srl (Italy)