Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The "Sisal Market Share, Size, Trends, Industry Analysis Report, By Type, Application, By Region, Segment Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The global sisal market is on the brink of unprecedented growth, with a projected market size of USD 1,965.31 million by 2032. This report provides an in-depth analysis of the current market dynamics and offers valuable insights into the future growth prospects of the sisal industry.
The remarkable expansion of global cultural fashion trends and the growing consumer demand for uniquely designed sisal products, especially in more developed regions, are driving the market's rapid growth. Consumers worldwide are increasingly seeking customized sisal items, prompting producers to offer a diverse range of sisal products. Sisal, a renewable resource, is playing a crucial role in combating climate change.
These hardy plants are disease-resistant and can thrive in saline environments, reducing the need for excessive fertilizers during cultivation. With a maximum productive life of 12 years, sisal is not only sustainable but also minimizes pre and post-harvest losses. The sustainability advantages of sisal have made it a preferred choice in the industrial and commercial sectors. Its appealing and cutting-edge features are expected to accelerate the sisal market's expansion during the forecast period.
Moreover, the utilization of sisal byproducts, which includes the remaining biomass after fiber extraction, is contributing significantly to market growth. Currently, up to 98 percent of this biomass is discarded as waste. Recognizing its economic potential, organizations like the Common Fund for Commodities, UNIDO, and the Tanzanian sisal industry have jointly funded facilities to convert sisal leftovers into valuable biogas, power, process heat, and fertilizer, amounting to approximately 15 million tonnes annually.
Ongoing plant evaluations indicate that 25% of the generated energy can be used for sisal processing, while the remaining 75% can be supplied to rural households. Decortication waste can serve as fertilizer or animal feed, and sisal juice can be used to produce pharmaceutical products such as echogenic and inulin. The versatile use of sisal byproducts across various industries is further bolstering market growth.
Furthermore, manufacturers have embraced sisal fiber for a wide range of applications, including carpets, geotextiles, general cordage, buffing cloth, specialized paper, binding materials, and strengthening agents. Sisal fiber has gained immense popularity in both industrial and home settings, and its demand is expected to steadily rise in the coming years.
Key Highlights from the Sisal Market Report:
- High-quality sisal segment is poised for significant growth due to its inherent strength, providing a rugged and durable texture.
- The paper industry segment captured the largest market share in 2022, driven by the increasing use of sisal in pulp production for paper.
- The Asia-Pacific region is expected to experience substantial growth over the forecast period, owing to the expanding textile industry and rising adoption of sisal across various verticals.
- Prominent global players in the sisal market include GuangXi Sisal, International Fiber Corporation, Lanktrad International, METL Group, REA Vipingo, Sisalandia Fios Naturais, Wild Fiber, and Wiggles Worth.
The Sisal Market Report by has been segmented based on type, application, and region, providing a comprehensive overview of the industry's landscape.
Sisal, Type Outlook (Revenue - USD Million, 2019 - 2032)
- High Quality
- Middle Quality
- Low Quality
Sisal, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Paper Industry
- Medical Industry
- Automotive Industry
- Textile Industry
- Construction Industry
- Spin & Carpet Industry
- Environmental Greening Industry
- Other
Sisal, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Attributes of the Report:
- No. of Pages: 114
- Forecast Period: 2023 - 2032
- Estimated Market Value (USD) in 2023: $1,352.46 million
- Forecasted Market Value (USD) by 2032: $1,965.31 million
- Compound Annual Growth Rate: 4.2%
- Regions Covered: Global
Companies Mentioned
- GuangXi Sisal Group
- Hamilton Rios
- International Fiber Corporationa
- Lanktrad International Pvt. Ltd.
- METL Group
- M. and W. Heller
- REA Vipingo Group
- Sisalandia Fios Naturais
- Sisal Rugs
- SFI Tanzania
- Wild Fiber Corp.
- Wiggles Worth and Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vsyvqj
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