Research Nester published a report titled “Vulcanized Fiber Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global vulcanized fiber market in terms of market segmentation by grade, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global vulcanized fiber market is expected to garner a CAGR of ~5% over the forecast period. The market is segmented by application into electrical & electronics insulation, furniture manufacturing, farming tools, and others, out of which, the electrical & electronics insulation is estimated to acquire a larger share during the forecast period, as vulcanized fiber is utilized for insulating electronics cables. The growing demand for electrical and electronics appliances is expected to positively impact the growth of the segment.
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The global vulcanized fiber market is estimated to grow during the forecast period on the back of escalating demand for electrical insulation and furniture. Moreover, the demand for electric cars is increasing worldwide, which is the reason the global vulcanized fiber market is projected to thrive over the forecast period. Also, the vulcanized fiber is utilized for other purposes, such as, making farming tools, aerospace and defense parts, plumbing, and marine components. On the back of this, the global vulcanized fiber market is projected to grow significantly during the forecast period.
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, out of which the North America region is estimated to witness significant growth over the forecast period. This can be accounted to the rising electronics industry in the region. Moreover, growing adoption of EVs in the North America region is projected to influence the growth of the global vulcanized fiber market over the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.
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Increasing Demand for Electric Vehicles to Boost the Growth of Vulcanized Fiber Market
According to the data released by International Energy Agency, sales of electric cars reached up to 2.1 million in 2019.
With the increase in the demand for electronics & electrical appliances, the demand for vulcanized fiber is also increasing. The global vulcanized fiber market is estimated to grow during the forecast period on the back of rising demand for electrical vehicles. In the quest to decrease pollution and rising petroleum prices, people are preferring electric vehicles. On account of this, the global vulcanized fiber market is projected to grow over the forecast period.
However, the availability of close substitutes is expected to operate as a key restraint to the growth of the global vulcanized fiber market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global vulcanized fiber market which includes company profiling of EMCO INDUSTRIAL PLASTIC, INC., Dynos GmbH, ITEN Industries, ESPE Manufacturing Co., Inc., New Process Fibre Company, Inc., Franklin Fibre Corporation., RH Nuttall Limited, Sachsenroder GmbH & Co. KG, Oliner Fibre Co., Inc., and Inher S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global vulcanized fiber market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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