Wide Applications of Sugarcane Fiber is projected to Boost the Market
Around 300 million tons of plastic produced in the world every year and considerable amount of that plastic is used in restaurant business. Increased awareness about the use of sugarcane fiber and various restrictions on the use of plastics has boosted the global market for sugarcane fiber.
In recent time sugarcane fiber has emerged as alternative for plastic used in restaurant industry. All of these plastics is either dumped into ocean or burnt and very small amount is recycled.
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Moreover, extensive research and development in waste management and recycling has promoted the use sugarcane fiber in stationary and disposable tableware industry.
Shifting Trend of Waste Recycling is likely to Push the Sugarcane Fiber Market
Sugarcane fiber are used as raw material in clothing industry to make textile rayon fiber at low cost. Disposable tableware and bowls are also being made by using sugarcane fiber leading to decreased plastic waste by restaurants. It is a soluble fiber which promotes intestinal regularity.
Moreover, when combined with high fat diet for animals and humans may help to control type 2 diabetes. With all these demand for sugarcane fiber is rising at stable rate. Recycled sugarcane fiber is being used in paper and board making industries owing to their easy availability and cost effectiveness.
Sugarcane Fiber Market: Segmentation
Based on types sugarcane fiber market is classified into different parts like application, derived products, form and end use industries. Sugarcane fiber has significantly captured the paper and board making industry owing to their low-cost fibrous properties like high tensile strength.
Based on form sugarcane fiber market is segmented into
- Natural Form (Bagasse)
- Burned form (Ash)
Based on end use industries sugarcane fiber market is segmented into
- Pulp and Paper Industry
- Textile Industry
- Energy Sector
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East Asia and South Asia Markets are Projected to Push the Market for Sugarcane Fiber
Emerging economies like china, India, Brazil being prominent producer of sugarcane fiber across the globe. Developed economies like Europe, Asia, and North America being the significant producer of paper likely to boost the demand for sugarcane fiber market. Moreover, world’s prominent textile market like Asia and Europe are using sugarcane fiber as cost effective raw material thereby the demand for sugarcane fiber market.
Developing economies like china and India being prominent cement and concrete manufacturers likely to boost the demand for sugarcane fiber market. Increased awareness about climate change, waste management, plastic waste reduction are one of the common factors likely to drive the demand for sugarcane fiber market in developed economies. In addition, various governmental restrictions on use of plastic across the globe is projected to the growth for sugarcane fiber market.
Impact of COVID-19 on Sugarcane Fiber Market.
Government imposed lockdown has slightly affected the sugarcane fiber market owing to halted production activities till further orders. Supply chain for sugarcane fiber market has slightly affected due to decreased demand for short amount of time.
Merger and Acquisition of Prominent Players Likely to Expand Sugarcane Fiber Market.
Players in the market are innovating sugarcane fiber related products to capture the market. For instance, various players like Eco-products, Inc, Dine Earth, Vegware Ltd has launched wide range of disposable tableware manufactured from sugarcane fiber. Furthermore, key players like V.F. CORPORATION, LULULEMON ATHLETICA INC are active towards the recycled use of natural raw materials like sugarcane fiber in its clothing brands.
Players are also using strategies like merger and acquisitions to capture the market. For instance, Voith Gmbh the top player in sugarcane fiber paper industry has acquired Spectris plc in 2019 in order to capture the market. Svenska Cellulosa Aktiebolaget (SCA) France has confirmed its merger with French company Innovation Solutions Bois, Groupe ISB, to expand their operation in France. Further key players in the market are Oji Paper japan, Kimberly-Clark Corp and others.
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