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The global microfiber market is expected to grow at a CAGR of 3.5% from 2018 to 2023

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The global microfiber market is expected to grow at a CAGR of 3.5% from 2018 to 2023

NEW YORKJune 11, 2019 /PRNewswire/ -- Trends, opportunities and forecast in microfiber market to 2023 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 AmericaEuropeAsia Pacific, and the Rest of the World)

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.

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.

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The study includes the microfiber market size and forecast for the global microfiber market through 2023, segmented by material, application, product type, end use, and region as follows:

Microfiber Market by Material [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
Polyester Polyamide Others

Microfiber Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
Household Commercial Industrial Shoes Automotive Clothing Furniture

Microfiber Market by Application [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
Cleaning Cloths Synthetic Leather Others

Microfiber Market by Product Type [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
Short Microfiber Long Microfiber

Microfiber Market 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
Some of the microfiber companies profiled in this report include 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.

The analyst forecasts that polyester will remain the largest material during the forecast period due to its soft, durable, electrostatic, and filtering properties. The analyst 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 ChinaJapanSouth Korea, and Taiwan.

Some of the features of "Microfiber Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global microfiber market size estimation in terms of value ($M) and volume (MLbs.) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Global microfiber market size by various applications such as material, application, product type, and end use in terms of value and volume shipment.
Regional analysis: Global microfiber market breakdown by North AmericaEuropeAsia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of microfiber in the global microfiber market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of microfiber in the global microfiber market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

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