Market Research Future has published a cooked research report on the “Global Vulcanized Fiber Market” from 2016 to 2023.
Market Research Future (MRFR) recognizes 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) as the key players in the global vulcanized fiber market.
Market Highlights
The global vulcanized fiber market is estimated to be valued at USD 1795.9 million by 2023 and is expected to register a CAGR of 4.62% during the forecast period.
The commercial grade type segment dominated the global market as it offers excellent mechanical and electrical properties. It is also known as mechanical grade vulcanized fiber. It is strong, robust, resistant to oils, most of the solvents, and gasoline. It is an electrical grade insulating material capable of withstanding temperatures up to 115°C.
The growth of the electrical application segment is attributed to the high punching resistance, high surface resistance, anti-static, lightweight, and excellent electrical insulation of vulcanized fiber. The segment accounted for over 37% of the global market share in 2017 and is projected to register a CAGR of 5.34% during the assessment period.
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Segment Analysis
The global vulcanized fiber market has been segmented on the basis of type, application, and region.
On the basis of type, the global market has been categorized into commercial grade, electrical grade, trunk grade, bone grade, abrasive grade, flexible grade, and others. Among these types, the commercial grade dominated the global market in 2017. This is attributed to its extensive use in mechanical and electrical applications such as washers, handles, gears, arc barriers, insulating plates, and switch and appliance insulation. It is projected to register a CAGR of 5.4% to reach USD 551.0 million by 2023.
Based on the applications, the global market has been segmented into electrical, abrasive, textile, automotive, and others. The automotive segment is expected to reach USD 470.7 million by the end of the review period. The growth of the automotive industry can be attributed to the high production and sales of automobiles across the globe.
Regional Analysis
Geographically, the global vulcanized fiber market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the largest market for vulcanized fiber in 2017 and is expected to remain dominant during the review period. Europe accounted for 16.4% of the market share in 2017, with Germany being the major contributor. The rising demand for wireless electronic devices coupled with the high disposable income of the consumers is the major driver for the growth of the vulcanized fiber market in the region.
Key Findings of the Study:
- The global vulcanized fiber market is projected to reach USD 1,795. Million by 2023 at a CAGR of 4.62% during the review period of 2018 to 2023.
- Asia-Pacific accounted for the largest market share with China being the major contributor to the growth of the market.
- Some of the prominent players in global market are Emco Industrial Plastics, Dynos GmbH, Iten Industries, Inc, ESPE Manufacturing Co., Inc, and Hokuetsu Toyo Fibre Co., Ltd, among others.
- The key manufacturers are strengthening their distribution and sales network as growth strategies.
Market Dynamics:
5.1 Introduction 26
5.2 Drivers 27
5.2.1 High Demand In The Electrical & Electronics Industry 27
5.2.2 Increasing Use Of Vulcanized Fiber As A Backing Material For Fiber Discs 28
5.2.3 Growth Of The Textiles And Apparel Industry 29
5.3 Restraints 30
5.3.1 Availability Of Close Substitutes 30
5.4 Opportunities 31
5.4.1 Widening Scope Of Application 31
5.5 Challenges 31
5.5.1 Fluctuating Production Of Raw Materials 31
Market Factor Analysis:
6.1 Supply Chain Analysis 33
6.1.1 Raw Materials 33
6.1.2 Vulcanized Fiber Manufacturers 34
6.1.3 Distribution Channel 34
6.1.4 Applications 35
6.1.5 Logistics Scenario 35
6.2 Porter’s Five Forces Analysis 36
6.2.1 Threat of New Entrants 36
6.2.2 Threat of Rivalry 36
6.2.3 Threat of Substitutes 36
6.2.4 Bargaining Power of Suppliers 37
6.2.5 Bargaining Power of Buyers 37
6.3 Market Price Analysis 2015-2018 37
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