Vulcanized Fiber Market Segmentation by Application (Electronics, Furniture, Automotive, and Others); and by Type (Electrical, Trunk & Bone Fiber, Commercial, and Others)-Global Demand Analysis & Opportunity Outlook 2031
25 Oct 2022
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
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Global Vulcanized Fiber Market Highlights Over 2022- 2031
The global vulcanized fiber market is estimated to grow at a ~6% CAGR over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a notable revenue in 2021. The growth of the market can be attributed to the features of the vulcanized fibers, such as flexibility, high durability, adaptability, lightweight nature, and others. Moreover, there has been growth in the automobile sector, and vulcanized fiber is used in the manufacturing process of automobiles. According to the statistics by the International Energy Agency (IEA), global car sales have increased from 15 million in 2005 to 41 million in 2020. Moreover, there has been support from the government to apply vulcanized fiber to electrical appliances owing to its environmentally friendly nature.
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The global vulcanized fiber market is segmented by application into electronics, furniture, automotive, and others. Out of which, the automotive segment is expected to hold the largest share over the forecast period in the global vulcanized fiber market. This can be attributed to the increase in the demand for automobiles by consumers and a surge in the number of automobiles manufactured per annum. Furthermore, vulcanized fiber can also be used for the production of light weight cars, and it is expected to drive the growth of the automobile segment.
Global Vulcanized Fiber Market Regional Synopsis
Regionally, the global vulcanized fiber market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period on the back of an increase in foreign direct investment in the automobile sector. Furthermore, as per the India Brand Equity Foundation, India received a cumulative equity FDI inflow of approximately USD 30.78 billion from April 2000 to September 2021. Moreover, the automobile sector is expected by the government of India to attract USD 8-10 billion in foreign and local investment by 2023. In addition, there is a surge in demand from customers for Chinese and Japanese automobiles across the globe, which is also projected to drive the growth of the market in the region.
Our in-depth analysis of the global vulcanized fiber market includes the following segments:
Trunk & Bone Fiber
Growth Drivers and Challenges Impacting the Growth of the Global Vulcanized Fiber Market
Environmentally friendly nature of the vulcanized fiber
Growth in the automobile sector
High cost of the vulcanized fiber
Availability of low-cost alternatives
Key Companies Dominating the Global Vulcanized Fiber Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global vulcanized fiber market that are included in our report are Lamitex S.p.A., Emco Industrial Plastics, LLC, Thrust Industries, Dynos GmbH, Franklin Fibre Corporation, Jindal Stainless Limited, RH Nuttall, ESPE Manufacturing Co., Inc., Oliner Fibre Co., Inc., Hokuetsu Toyo Fibre Co., Ltd., and others.
Latest Developments in the Global Vulcanized Fiber Market:
23 October 2019: Jindal Stainless Limited announced the signing of Memorandum of understanding with Braithwaite & Co Limited to develop stainless steel road- over-bridges and foot-over-bridges.
2 October 2019: RH Nuttall announced the investment in latest machine technology for their staff and customers. Moreover, the company has invested in two built-to-order automatic travelling head machines to maintain position and reputation within the non-metallic gaskets trade.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Environmentally friendly nature of vulcanized fiber and growth in the automobile sector are the major factors driving the growth of the vulcanized fiber market.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022-2031.
High cost of the vulcanized fiber and better option available in future as compared to vulcanized fiber are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of vulcanized fiber market in future?
Asia Pacific region will provide more business opportunities for growth of vulcanized fiber market in future.
The major players in the market are Lamitex S.p.A., Emco Industrial Plastics, LLC, Thrust Industries, Dynos GmbH, Franklin Fibre Corporation, Jindal Stainless Limited, RH Nuttall, ESPE Manufacturing Co., Inc., Oliner Fibre Co., Inc., Hokuetsu Toyo Fibre Co., Ltd., 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 type, application, and by region.
Which segment captures the largest market size in application segment in the vulcanized fiber market?
The automotive segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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- Lamitex S.p.A.
- Emco Industrial Plastics LLC
- Thrust Industries
- Dynos GmbH
- Franklin Fibre Corporation
- Jindal Stainless Limited
- RH Nuttall
- ESPE Manufacturing Co.Inc.
- Oliner Fibre Co.Inc.
- Hokuetsu Toyo Fibre Co.Ltd.