According to the report of ResearchAndMarkets, the global abaca fiber market size is expected to reach USD 1.7 billion by 2028. The market is expected to expand at a CAGR of 15.1% from 2021 to 2028. Abaca, binomial name Musa textilis, is a species of banana native to the Philippines, grown as a commercial crop in the Philippines, Ecuador, and Costa Rica. The plant, also known as Manila hemp, has great economic importance, being harvested for its fiber, also called Manila hemp, extracted from the leaf stems.
The abaca fiber industry is expected to gain importance over the forecast period driven by the rising impetus towards adopting natural fibers. The product’s superior performance and strength are also expected to emerge as the key factors prompting the demand for abaca fiber over the forecast period.
During the 19th century, abaca was widely used for ships’ rigging and pulped to make sturdy manila envelopes. Today, it is still used to make ropes, twines, fishing lines, nets, and coarse cloth for sacking. It can be used to make handicrafts like bags, carpets, clothing, and furniture. According to the textile value chain, Mercedes Benz has used a mixture of polypropylene thermoplastic and abaca yarn in automobile body parts. Production of abaca fiber uses an estimated 60 % less energy than the production of glass fiber.
