Vulcanized Fiber Market Analysis

Global Vulcanized Fiber Market Overview

Vulcanized Fiber Market Size was valued at USD 1.58 Billion in 2023. The Vulcanized Fiber industry is projected to grow from USD 1.67 Billion in 2024 to USD 2.42 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.77% during the forecast period (2024 - 2032). Growing electrical and electronic sector demand are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vulcanized Fiber Market Trends

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  Growing use as backing material is driving the market growth

  
  

Market CAGR for vulcanized fiber is being driven by the rising use a backing material. Round grinding wheels with vulcanized fiber backing are known as vulcanized fiber discs; they have an abrasive or resin coating on one side. These discs are mostly utilized for metal processing when using angle grinders. They can be used for various tasks, from surface polishing to rough machining. Vulcanized fiber is becoming more and more common as backing in fiber discs because of its flexibility and elasticity. Fibre discs have benefits over abrasive mop and grinding discs, including fine and uniform scratch patterns and reduced cost. Most of the time, stainless steel, cast iron, sheet steel, and high-alloy steel are machined using vulcanized fiber discs. Many automotive components, including the body, panels, doors, engine blocks, gears, suspension, wheels, fuel tanks, steering, and braking systems, are made of steel. The market for vulcanized fiber may also expand due to the rising demand for metal fabrication from various end-use industries, including automotive, architectural, aerospace, and others. For electrified vehicle penetration (hybrid, plug-in hybrid, battery electric, and fuel cell) in the forecast period, new and strong momentum is created by stricter emission rules, decreasing battery costs, more widely accessible charging infrastructure, and increased consumer acceptability. This is anticipated to increase demand for vulcanized fiber due to the growing use of various AHSS grades in the production of automobiles.

The increase is supported by the growing demand to reduce automotive emissions due to the strict environmental protection laws in the US Environmental Protection Agency and Europe. According to the International Organization of Motor Vehicle Manufacturers, the share of electrified vehicles is expected to be between 10% and 50% of new vehicle sales, which is expected to drive demand for steel and increase demand for vulcanized fiber. Adopting electric and hybrid vehicles to reduce CO2 emissions and using petrochemicals has increased their production. As a result, the growth of the vulcanized fiber market is anticipated to be fueled by the expanding use of vulcanized fiber as a backing material for fiber discs. By 2030, production in the automotive industry is expected to increase by 5.67% CAGR to 122.83 million units. According to IBEF, India's passenger car market is expanding more quickly than other countries in the APAC region.In 2022, the America announced that they will invest $13 billion in expanding and modernizing the nation's grid system to enhance it as an electrical transmission and distribution infrastructure. Such investment plans are expected to lead to more electrically insulating materials like vulcanized fiber.

Vulcanized Fiber Market Segment Insights

Vulcanized Fiber Type Insights

Based on type, the Vulcanized Fiber market segmentation includes commercial grade, electrical grade, trunk grade, bone grade, flexible grade, abrasive grade, and others. The commercial grade segment dominated the market, accounting for 35% of market revenue. Due to its high tensile strength, low dielectric constant, and high bending flexibility, fish paper, an electrical-grade vulcanized fiber, is frequently used to insulate electric motors, generators, and transformers. The best material for insulation for armature slots, liners, washers, coil insulation, arc shields, formed specialty, and gasket stock is a dark blue fish paper with remarkable dielectric, tensile, bending strength, strong, smooth, and good punching and shaping qualities. The vulcanized fiber market will benefit from this in the medium-term projection period. The ideal material for insulation for armature slots, liners, washers, coil insulation, arc shields, formed specialty, and gasket stock is a dark blue fish paper with remarkable dielectric, tensile, smooth, bending strength, strong, and excellent punching and shaping qualities. The vulcanized fiber market will benefit from this in the medium-term projection period.

Vulcanized Fiber Application Insights

The Vulcanized Fiber market segmentation, based on Application, includes electrical, abrasive, textiles, automotive, and others. Electrical generated the most income. Consumer electronics like household appliances, personal computers, cell phones, and gaming equipment are becoming more popular because of the strength, flexibility, and light weight of vulcanized fibers. Additionally, throughout the market forecast period, demand for vulcanized fiber is anticipated to be driven by a rise in consumer electronics related to increased production and closeout of products due to customers' high disposable income and changing lifestyle patterns. Owing to their excellent bonding, flexibility, and heat and water resistance in demanding applications, including household appliances, technology, and other applications. The market for vulcanized fibers now has more room to grow.

Figure 1:  Vulcanized Fiber Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vulcanized Fiber Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Vulcanized Fiber market area will dominate this market; Vulcanised fibers are cellulose-based laminated polymers with excellent chemical and mechanical characteristics. Due to its superior electrical qualities, remarkable dimensional stability, mechanical strength, and lightweight and dielectric strength, vulcanized fiber is becoming increasingly popular in the electrical and electronics sectors, which is driving the growth of the vulcanized fiber market.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, China, Spain, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  VULCANIZED FIBER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Vulcanized Fiber market accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. Further, the German Vulcanized Fiber market held the largest market share, and the European region's fastest-growing market was the UK Vulcanised Fibre market.

The Asia-Pacific Vulcanized Fiber Market is expected to grow at the fastest CAGR from 2023 to 2032. Over the forecast period, the vulcanized fiber market is anticipated to benefit from rising electrical and automotive demand in developing countries like China and India. The electronics and automotive, consumer electronics, and abrasive industries drive the need for vulcanized fiber in Asia. Moreover, China's Vulcanized Fiber market held the largest market share, and The Asia-Pacific region's market with the quickest growth rate was the Indian Vulcanised Fibre market.

Vulcanized Fiber Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Vulcanized Fiber market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Vulcanized Fiber industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Vulcanized Fiber industry to serve clients and expand the market sector. The Vulcanized Fiber industry has provided some of the most important benefits recently. Major players in the Vulcanized Fiber market, including ESPE Manufacturing Co, Franklin Fibre-Lamitex Corp, and others, are attempting to increase market demand by investing in research and development operations.

JSW Group is one of India's top corporate organizations. JSW is contributing significantly to the expansion of India's economy with its innovative and sustainable presence across several industries, including steel, energy, infrastructure, paints, cement,  venture capital, and sports. The Group pursues excellence by utilizing its strengths and skills, which include a strong track record of completing significant capital-intensive & technically demanding projects, a differentiated product mix, cutting-edge manufacturing facilities, and a greater focus on pursuing sustainable growth. In May 2019, One of India's biggest steel producers, JSW Steel, has declared its ambition to launch value-added products related to expanding markets and industries, like automobiles and household appliances. This was done to increase the consumer base and increase sales and revenue.

Jindal Stainless operates two stainless steel manufacturing facilities in India's states of Haryana and Odisha and a branch abroad in Indonesia that supplies markets in South-East Asia and surrounding areas. With 15 locations worldwide, Jindal Stainless also has one service center in Spain. There are six service centers and ten sales offices in India. Stainless steel slabs, blooms, coils, plates, sheets, precision strips, blade steel, and coin blanks are among the products offered by the company. In June 2019, India-based Jindal Stainless Ltd (JSL) declared that they are concentrating on the expanding demand for steel from the automobile industry. It has created and tested stainless steel gasoline lines for passenger cars, meeting 60% of domestic demand. The goal of the strategy was to increase the new products and the business's credibility.Vulcanized Fiber Company Wins Award for Innovation in Vulcanized Fiber Technology - Within the framework of the annual Materials Science Awards ceremony, the development of innovative methods and technologies for producing vulcanized fibers was revealed by Vulcanized Fiber Company. The innovative advanced vulcanized fiber products proposed by the company have improved strength, durability as well as environmental attributes thereby enhancing sustainability/efficiency in multiple industries.

Key Companies in the Vulcanized Fiber market include

• Emco Industrial Plastics


• Dynos GmbH


• Iten Industries Inc


• ESPE Manufacturing Co


• Franklin Fibre-Lamitex Corp


• Hokuetsu Toyo Fibre


• Thrust Industries


• Oliner Fibre Co. Inc.


• Dante Bertoni Srl


• New Process Fibre Company Inc

Vulcanized Fiber Industry Developments

July 2022: The Swiss M2 Capital-owned Dynos firm, a manufacturer of vulcanized fiber, pulp, and specialty paper with headquarters in Germany, is reforming its operations and growing its market share. The company declared itself "an important player for processing plant fibers on the international market" after purchasing significant assets from US firm Cheney Pulp & Paper.April 2022: Von Roll Holding AG Expands Vulcanized Fiber Manufacturing Capacity - The company wants to increase its production of vulcanized fiber in response to growing consumer demand from the automotive, aerospace, and other sectors. This will involve the construction of new factories equipped with additional machinery.

Vulcanized Fiber Market Segmentation

Vulcanized Fiber Type Outlook

• Commercial Grade


• Electrical Grade


• Trunk Grade


• Bone Grade


• Abrasive Grade


• Flexible Grade


• Others

Vulcanized Fiber Application Outlook

• Electrical


• Abrasive


• Textiles


• Automotive


• Others

Vulcanized Fiber Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America