Natural Fibers & Sisal Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Natural Fibers & Sisal Industry Hit Worst due to Russia-Ukraine War Impact?
According to Fortune Business Insights, The global natural fibers & sisal market forecast is expected to gain momentum owing to the increasing demand for soaps and detergents across the globe. This information is published by Fortune Business Insights, in its upcoming report
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government, as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Natural Fibers & Sisal Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Natural Fibers & Sisal Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
Natural fibers & sisal are produced naturally by animals, geological process, and plants. They are adopted as a constituent of composite materials and can be manufactured into sheets to produce paper and other products. The growing demand for high strength fibers such as sisal, ramie, and curaua is expected to drive the demand for natural composite materials.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry development that will drive the market growth in the forthcoming years.
Rising Personal Care Sector to Propel Market Growth
The rising living standard and the high disposable income are driving the demand for luxury personal care products across the globe. In addition to this, the surging demand for natural composite materials is propelling the adoption of natural fibers & sisal in the manufacturing of soaps and detergents. This is expected to bode well for the global natural fibers & sisal market growth during the forecast period.
However, the availability of alternative vegetable oils to manufacture products across several industrial applications such as textile, automotive, and medical, among others may restrain the market growth to some extent.
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North America to Remain Dominant; Affordable Production Cost to Favor Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest position in the global natural fibers & sisal market in the forthcoming years. This is ascribable to factors such as lower natural fibers & sisal production cost that propel the manufacturers to look for investment opportunities in the region.
Europe, on the other hand, is expected to hold the second position in the market owing to the rising automotive sector and the increasing focus on extensive R&D to develop innovative natural fibers & sisal products in the region between 2020 and 2027.
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Major Companies Focus on Investment in R&D Activities to Develop Advanced Products
The global natural fibers & sisal market comprises of major companies that are striving to maintain their presence by investing in R&D activities to develop advanced natural fibers & sisal products to cater to the growing industrial demands. Additionally, key players are adopting strategies such as partnership, collaboration, and merger and acquisition that will contribute to the growth of the market in the forthcoming years.
- March 2020 – UPM biocomposites announced the development of a wood-based material, UPM Formi EcoAce, a 100% renewable cellulose fiber. According to the company, the material is anticipated to reduce overall carbon footprint.
List of the Companies Operating in the Global Market for Natural Fibers & Sisal:
- UPM Biocomposites
- Barnhardt Natural Fibers
- Hamilton Rios
- Advanced Environment Recycling Technologies, Inc
- METL Group
- BComp Ltd.
- The Natural Fiber Company
- SFI Tanzania
- GuangXi Sisal Group
- International Fiber Corporation
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