Agrifiber Product Market
Agrifiber Product Market Study by Door Cores, Flooring, Veneer, and Wall Panels & Boards for Residential, Commercial, Institutional, and Industrial Use from 2024 to 2034
Analysis of Agrifiber Product Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Agrifiber Product Market Outlook (2024 to 2034)
The global agrifiber product market size is set to account for a revenue value of US$ 1.78 billion in 2024 and is forecasted to climb to US$ 3.36 billion by the end of 2034. Global demand for agrifiber products is projected to increase at 6.2% CAGR from 2024 to 2034.
Agrifiber is created by extracting natural fibers from plant residues such as rice/wheat/barley straw and husk and sugarcane bagasse, which are considered agricultural waste in most parts of the world. Agrifiber-based particle boards (PBs) and medium-density fiberboards (MDFs) are being extensively utilized in different applications such as furniture and construction around the world.
Stringent mandates regarding deforestation and the limited scope of acquiring wood from forests have led to an increase in the popularity of agrifiber products around the world. Agrifiber is also known as industrial wood as it possesses many qualities of traditional wood and can be used as a substitute for the same.
Surging demand for sustainable construction materials, increasing adoption of eco-friendly materials in the making of exterior/interior furniture, and the adoption of advanced green construction technologies are also estimated to favor shipments of agrifiber products around the world over the next 10 years and beyond.
On the contrary, limited availability of raw materials in some parts of the world and seasonal fluctuations are also projected to hurt global agrifiber product market growth in the future. Rising popularity of sustainable lifestyles and eco-friendly furniture products is projected to create new opportunities for agrifiber product distributors through 2034.
Increasing adoption of agrifiber wall panels, wood flooring, and laminated veneer lumber, is also slated to benefit agrifiber product market development in the future. North America and East Asia are projected to emerge as highly opportune regional markets for all agrifiber product companies owing to the high adoption of agrifiber products in different applications.
- East Asia is forecasted to account for 38.4% share of the global market by 2034.
| Report Attributes | Details |
|---|---|
| Agrifiber Product Market Size (2024E) | US$ 1.78 Billion |
| Projected Market Value (2034F) | US$ 3.36 Billion |
| Global Market Growth Rate (2024 to 2034) | 6.2% CAGR |
| North America Market Value (2024E) | US$ 510.1 Million |
| South Korea Market Growth Rate (2024 to 2034) | 11.3% CAGR |
| Share of Mexico in North America (2034F) | 9% |
| Residential Applications Segment Value (2024E) | US$ 422.7 Million |
| Key Companies Profiled |
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Which Industry is Set to Drive Global Demand for Agrifiber Products?
“High Agrifiber Product Demand in Construction Due to Their Strength and Cost-effectiveness”
Increasing popularity of the sustainability trend in the construction industry is projected to create lucrative growth opportunities for agrifiber product suppliers in the future. Agrifiber boards and agrifiber panels of different compositions are extensively utilized in the construction industry as they are sustainable, cost-effective, and functional as well. Imposition of stringent mandates to necessitate the use of eco-friendly construction materials around the world is also forecasted to contribute to the expansion of the global agrifiber product market size through 2034.
Fact.MR, a market research and competitive intelligence provider, in this latest agrifiber product market study report, gives a detailed analysis of the industry with factors such as local supply, pricing trends, product standards, safety regulations, and new developments, affecting market growth.
Country-wise Insights
Heavy investments in infrastructure development and growing adoption of eco-friendly construction materials are projected to be key agrifiber product market trends. These factors are boosting agrifiber product sales in countries such as India, China, the United States, the United Kingdom, Germany, South Korea, Canada, and Japan.
Why Should Agrifiber Product Companies Target India?
“Widespread Availability of Agricultural Residue”
India is a primarily agricultural economy, and this is what makes it a highly bankable market for all types of agrifiber product manufacturers in the world. Wide availability of agricultural and plant residue from the country’s agriculture industry allows access to cheap raw materials for companies thereby allowing them to increase their profitability as well.
Growing focus on sustainability and increasing adoption of agrifiber products in different industry verticals in the country are also projected to open up new avenues of opportunities for agrifiber product manufacturers as well as suppliers in the long run. Supportive government initiatives, increasing construction activity, growing awareness regarding the benefits of agrifiber products, and rising disposable income are other factors that could potentially bolster shipments of agrifiber products in India over the next 10 years.
What Makes the United States a Highly Lucrative Market?
“Rising Residential Construction Activities and Popularity of Sustainable Furniture”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 365.7 Million |
| Growth Rate (2024 to 2034) | 7% CAGR |
| Projected Value (2034F) | US$ 720.3 Million |
The housing crisis in the United States is not unknown to the world and this is why residential construction still has a lot of potential to expand. Growing focus on sustainability and increasing awareness among consumers regarding the same is estimated to bolster demand for agrifiber products in the United States in the long run. Increasing popularity of sustainable furniture and the growing use of agrifiber products in the creation of interior and exterior elements of infrastructure are also predicted to uplift the consumption of agrifiber products in the country across the study period.
How Investment-worthy is China for Agrifiber Product Suppliers?
“Robust Spending on Infrastructure Development Creating Excellent Business Scope”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 370.4 Million |
| Growth Rate (2024 to 2034) | 7.2% CAGR |
| Projected Value (2034F) | US$ 741 Million |
Expenditure on infrastructure development in China has been increasing over the past few years, and this is projected to be a key agrifiber product market trend to watch out for in the future. Growing number of infrastructure projects utilizing sustainable construction materials, increasing awareness regarding the benefits of agrifiber panels, high availability of agricultural residue for agrifiber production, and rising investments in the R&D targeted at green construction materials are other factors that allow China to hold a prominent chunk of the global agrifiber product market share.
Supportive government initiatives to promote manufacturing and the availability of cheap labor are also estimated to attract agrifiber product manufacturers to China in the long run. Rapid expansion of the composites industry in China is also projected to favor sales of agrifiber products over the next 10 years.
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Category-wise Insights
Agrifiber product manufacturers around the world are maximizing their sales in construction applications by supplying agrifiber door cores.
Which are the Prominent Application Areas for Agrifiber Products?
“Sustainability Trends Boosting Agrifiber Product Use in Residential and Commercial Settings”
| Attribute | Commercial |
|---|---|
| Segment Value (2024E) | US$ 561.8 Million |
| Growth Rate (2024 to 2034) | 7.8% CAGR |
| Projected Value (2034F) | US$ 1.1 Billion |
Increasing demand for sustainable construction materials across the world is projected to boost shipments of agrifiber products in the long run. Several organizations around the world are adopting the circular economy model and trying to achieve their net zero carbon goals, which is why the demand for agrifiber products in commercial applications is projected to have a bright outlook over the next 10 years and beyond. Increasing consumer awareness regarding sustainability is also predicted to favor agrifiber product sales in residential applications going forward.
Which Agrifiber Product Accounts for High Revenue Streams?
“High Sales of Door Cores Driven by Low Cost and Durability”
| Attribute | Door Cores |
|---|---|
| Segment Value (2024E) | US$ 565.4 Million |
| Growth Rate (2024 to 2034) | 7.1% CAGR |
| Projected Value (2034F) | US$ 1 Billion |
Door cores are an essential part of any kind of door as they give structural stability to doors. Agrifiber particleboards are extensively used as door cores across the world owing to their low costs and high availability as compared to other door core alternatives. The high durability of agrifiber particleboards is also a prospect that promotes its use as a door core.
Competitive Landscape
Agrifiber product companies are projected to opt for strategies such as mergers, acquisitions, and partnerships to enhance their global market presence and promote their sales revenue.
- In January 2023, Masonite International Corporation, a leading designer and manufacturer of doors based in the United States, announced that it had completed the acquisition of Endura Products, a manufacturer of doors and door components. Masonite expanded its product portfolio and strengthened its stance in the global marketplace with this acquisition.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of Agrifiber Product Market Research
-
By Product Type:
- Door Cores
- Flooring
- Veneer
- Wall Panel & Boards
- Others (Furniture, etc.)
-
By Raw Material:
- Coconut Husk
- Wheat & Rice Straw
- Sugarcane Bagasse
- Sunflower Husk
- Others
-
By Application:
- Residential
- Commercial
- Institutional
- Industrial
-
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
How big is the agrifiber product market in 2024?
The global agrifiber product market is estimated at US$ 1.78 billion in 2024.
What valuation is the market for agrifiber products predicted to reach by 2034-end?
Demand for agrifiber products is forecasted to reach a market value of US$ 3.36 billion by 2034-end.
What is the demand growth projection for agrifiber products?
The market for agrifiber products is forecasted to increase at 6.2% CAGR over the next 10 years.
Which region leads the demand for agrifiber products?
Agrifiber product demand is projected to increase at 7% CAGR from 2024 to 2034 in East Asia.
Where are agrifiber products expected to be extensively utilized?
Commercial applications are projected to occupy a leading share, accounting for 32.8% of the market by 2034.
Who are the leading agrifiber product manufacturers?
ASSA ABLOY, Lexington Manufacturing Inc., Masonite, Wanhua Ecoboard Co. Ltd., TorZo Surfaces, and Navy Island Inc. are leading agrifiber product producers.
Agrifiber Product Market