Vulcanized Fiber Market Trends

  • Report ID: 4127
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Vulcanized Fiber Market Trends

Growth Drivers

  • Rising Automotive Industry with Increasing Sales of Electric Vehicles across the World – The increasing number of automotive industries across the world is estimated to drive market growth. The adoption of electric vehicle demand is expanding owing to the rising greenhouse gases across the world. The growing global warming around the world is estimated to propel the electric vehicle growth thereby propelling the market growth in the coming years. The less cost and high efficiency of electric vehicles are driving the growth of the market. As per the estimations, electric car sales raised from 0.2% in 2011 to 4.6% in 2021 out of total car sales in the United States according to the Bureau of Labor Statistics.

  • Growing Policies to Reduce Vehicle Emissions and Use of Petrochemicals – The United States Environmental Protection Agency, in 2021 December finalized the revised national greenhouse emissions standards for light trucks and passenger cars of Model 2023-2036.

  • Escalating the Construction Sector with Rise in Infrastructural Development – The annual value of construction projects undertaken in the year 2021 was estimated to be more than USD 1.5 trillion in the U.S.

  • Increasing Use of Furniture Manufacturing with Growing Economic Standards – The furniture industry growth rate in India accounted for more than USD 5 billion in the year 2023 as per the reports.

  • Rising Electrical Wires Consumption with Growing New Connections and Extension of Old Ones – The year-on-year growth rate of exported insulated wire across the U.S. in 2018 was over 4 and increased to more than 20 in the year 2021 as per the estimation in 2022.

Challenges

  • Availability of Other Alternatives and Substitutes
  • High Initial Cost and Time – The production process and preparing vulcanized fiber from cellulose wood pulp is very difficult. The cost of preparation is also expensive owing to the involvement of serval steps such as gelatinization of cellulose fibers, curing, air drying, treating under pressure and heat for adhesion properties, and many more. Also, they involve various equipment installation and maintenance which is estimated to inhibit the market growth.
  • Degradation and Discoloration on Long Exposure to Air

Vulcanized Fiber Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~5%

Base Year Market Size (2022)

~ USD 1 Billion

Forecast Year Market Size (2035)

~ USD 2 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Rajrani Baghel


  • Report ID: 4127
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing electronics sector and rising use in furniture manufacture are estimated to be the major factors driving the growth of the global vulcanized fiber market during the forecast period.

The market size of the vulcanized fiber is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023-2035.

Availability of alternatives and high initial cost are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are EMCO Industrial Plastic, Inc., Dynos GmbH, ITEN Industries, ESPE Manufacturing Co., Inc., New Process Fibre Company, Inc., Franklin Fibre Corporation., RH Nuttall Limited, Sachsenroder GmbH & Co. KG, Oliner Fibre Co., Inc., Inher S., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by grade, application, end user, and by region.

The electrical & electronics segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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