According to a new market report published by Lucintel, the future of the microfiber market looks promising with opportunities for cleaning cloths in the household, commercial, industrial, automotive, etc and synthetic leather for shoes, furniture and automotive industries. The global microfiber market is expected to grow at a CAGR of 3.5% from 2018 to 2023. The major drivers for this market are increasing demand for reliable and eco-friendly materials for cleaning in household, hospitals, and other industries and growth in demand for eco-friendly synthetic leather..
Browse 130 market data tables and 157 figures spread through 226 pages and in-depth TOC on “Global Microfiber Market”
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In this market, different types of microfiber such as polyester, polyamide, and others are used as material. Lucintel forecasts that polyester will remain the largest material during the forecast period due to its soft, durable, electrostatic, and filtering properties. Lucintel predicts that polyamide is expected to witness the highest growth over the forecast period supported by increasing demand for polyamide blend cleaning cloths as it provides better cleaning than polyester based cleaning cloths.
Within the microfiber market, household will remain the largest end use industry during the forecast period due to an increase in demand for reliable and eco-friendly cleaning cloths and increasing demand for synthetic leather in furniture and decoration.
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Asia Pacific will remain the largest region and it is expected to witness the highest growth over the forecast period supported by increasing demand for microfibers in shoes, furniture, bags, cleaning cloths, automotive, and electronics industries in China, Japan, South Korea, and Taiwan.
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Emerging trends, which have a direct impact on the dynamics of the microfiber industry, include development of microfiber for wet-laid process and introduction of PVA infused microfiber. Toray Industries, Kuraray, Huafon Group, 3M, Freudenberg Group, Eastman, Kolon Group, Welcron, Asahi Kasei, Seiren Group, Sanfang Chemical, Acelon, Far Eastern Group, Eurow, Sangdong Tongda, and Double Elephant and others are among the major microfiber manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global microfiber market by material, application, product type, end use, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Microfiber Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global microfiber market by material, application, product type, end use, and region as follows:
By Material [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Polyester
- Polyamide
- Others
By End Use Industry [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Household
- Commercial
- Industrial
- Shoes
- Automotive
- Clothing
- Furniture
By Application [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Cleaning Cloths
- Synthetic Leather
- Others
By Product Type [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Short Microfiber
- Long Microfiber
By Region [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- North America
– United States
– Canada
– Mexico
- Europe
– Germany
– Norway
– France
– Italy
- Asia Pacific
– China
– Japan
– South Korea
– Taiwan
- The Rest of the World
– Turkey
– South Africa
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This 226-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/microfiber-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global microfiber market by material (polyester, polyamide, and others), application (cleaning cloths, synthetic leather, and others), product type (short microfiber and long microfiber), end use industry (household, commercial, industrial, shoes, automotive, clothing, and furniture), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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