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.
In this market, polyester, polyamide, and other
materials are used for manufacturing microfibers. 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.
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.
Emerging trends, which have a direct impact
on the dynamics of the 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 are among the major
manufactures of microfiber.
Lucintel, the
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global microfiber market by material, by product type, by application, by end
use industry, and by region. Lucintel has prepared a comprehensive research
report entitled “Growth Opportunities in the Global Microfiber
Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a
catalyst for growth strategy as it provides 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
−
US
−
Canada
−
Mexico
·
Europe
−
Germany
−
Norway
−
France
−
Italy
·
Asia Pacific
−
China
−
Japan
−
South Korea
−
Taiwan
·
The Rest of the World
−
Turkey
−
South Africa
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 helpdesk@lucintel.com. Lucintel
offerings include Chemical
Market Research Reports, Chemical
Industry Analysis Report, Opportunity
Screening and Analysis, Strategic
Growth Consulting and Capital
Investment Analysis.
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
potential, 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 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 emerging trends in this market
and the reasons behind them?
Q.7 What are the 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 material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
