A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Bast
Fibers
Market. The
study, titled “Bast
Fibers Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
Bast
fiber, also known as phloem fiber or skin fiber, is the fiber
collected from the phloem or bast surrounding the stem of certain
dicotyledonous plants. Some bast fibers are obtained from herbs, wild
plants, and trees. Bast fibers are classified into two types: soft
fibers and hard fibers. It is produced through the retting process.
Based
on fiber type, the bast fiber market can be segmented into soft fiber
and hard fiber. The soft fibers segment accounted for significant
share of the bast fibers market in 2016 owing to the wide
applications in different end-use industries. The hard fibers segment
is anticipated to experience high growth rate, led by the increase in
demand for textiles. Changes in consumer preferences and rise in
disposable income are anticipated to boost the demand for bast fibers
during the forecast period.
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In
terms of region, the global bast fibers market has been divided into
Asia Pacific, North America, Europe, Middle East & Africa, and
Latin America. Asia Pacific accounted for key share of the bast
fibers market in 2016, followed by North America and Europe. The
market for bast fibers in Asia Pacific is estimated to expand due to
the rise in demand for hemp fibers in various end-use industries such
as pulp & paper, injection molding, and insulation materials. The
bast fibers market is driven by the increase in demand for these
fibers in the automobile sector. Growth in disposable income of
consumers in North America and Europe is projected to boost the bast
fibers market in these regions. The U.S. and the U.K. are likely to
constitute major share of the bast fibers market in North America and
Europe, respectively, during the forecast period due to the high
disposable income of consumers in these regions. The bast fibers
market is anticipated to witness a shift from the U.S. and Western
Europe to developing economies in Asia Pacific, led by the rising
demand for composites in the automobile sector. The bast fibers
market in developing economies in Asia, namely China and India, is
also estimated to expand at a rapid pace due to the increase in
income and changing lifestyle of consumers. Technological
advancements and innovations in new application areas are also
projected to boost the demand for bast fibers during the forecast
period.
Global
demand for bast fibers is anticipated to rise significantly in the
near future. This offers high growth opportunities for the bast
fibers market. Rapid increase in demand in end-use applications, low
costs, and high economic growth rate are propelling the bast fibers
market in Asia Pacific. These factors are encouraging companies to
adopt expansion and R&D strategies in the region. Market players
are focusing on Asia Pacific to gain higher market share. Producers
of bast fibers are adopting expansion and acquisition strategies to
meet the global demand. Large numbers of producers are shifting their
plants to countries such as China and India due to factors such as
high demand and low raw material and labor costs in these countries.
Major
players operating in the global bast fibers market are Bast Fibers
LLC, FlexForm Technologies, Procotex SA Corporation NV, Polyvlies
Franz Beyer GmbH & Co. Kg, Tecnaro GmbH, Greencore Composites
Inc., Polymera Inc., and Park Electrochemical Corp.
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to view Sample Report:
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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