Vulcanized Fiber Market Analysis 2020- CAGR Status, Size, Share and Forecast To 2023

Market Insights
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.
Global Market for Vulcanized Fiber: Competitive Dashboard
  • Emco Industrial Plastics
  • Dynos GmbH
  • Iten Industries Inc
  • ESPE Manufacturing Co.Inc
  • Franklin Fibre Lamitex Corporation
  • Sachsenröder
  • Hokuetsu Toyo Fibre Co.Ltd.
  • Thrust Industries
  • Oliner Fibre Co.Inc
  • Dante Bertoni Srl
Segmental Analysis
The Global Vulcanized Fiber Market has been segmented by type, application, and region.
Based on type, the global vulcanized fiber market has been segmented into commercial grade, electrical grade, trunk grade, bone grade, abrasive grade, flexible grade, and others.
On the basis of application, the global market has been categorized into electrical, abrasive, textile, automotive, and others.
Regional Analysis
The Global Vulcanized Fiber Market Analysis has been studied with regards to five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific accounted for a market share of over 57% in 2017, in terms of value. The regional market is projected to reach USD 1,090 million by the end of 2023. China, Japan, and India are expected to be the major contributors to regional market growth. The Chinese market is projected to register a CAGR of over 6% during the forecast period. However, the Indian market is expected to exhibit a healthy CAGR of 5.7% during the assessment period. The easy availability of raw materials and low-cost labor in the region coupled with the high disposable income and government initiatives such as Net Zero Imports are expected to drive the regional market growth.
The growth of the European market is attributed to the high production and sale of automotive parts in countries such as Germany, the UK, Spain, Italy, and others. The growth is also influenced by the high demand for electrical & electronics products on the backdrop of the high disposable income of the consumers and the luxurious lifestyle trend. The regional market is projected to register a CAGR of 4.5% to reach a value of USD 295 million by the end of 2023.
The market in North America is projected to witness significant growth during the forecast period owing to the high demand for wireless devices and the high standard of living in the region.
The markets in Latin America and the Middle East & Africa held the smallest shares of the global vulcanized fiber market in 2017. However, they are likely to emerge as substantial markets during the review period.
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