Microfiber Market Report: Trends, Opportunities and Competitive Analysis

Microfiber Market Report: Trends, Opportunities and Competitive Analysis

Microfiber Market Trends and Forecast

The future of the microfiber market looks promising with opportunities in the household, commercial, industrial, furniture, and automotive industries. The global microfiber market is expected to grow at a CAGR of 3.5% from 2021 to 2027. The major drivers for this market are increasing demand for reliable and eco-friendly fabrics for cleaning in household, hospitals, and other industries and growth in demand for eco-friendly synthetic leather.

Emerging Trends in the Microfiber Market

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.

A total of 157 figures / charts and 130 tables are provided in this 226-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of the microfiber market report, please download the report brochure.

Microfiber Market by Segment

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

Microfiber Market by Material [Volume (M lbs) and $M shipment analysis for 2016 – 2027]:

• Polyester
• Polyamide
• Others

Microfiber Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2016 – 2027]:

• Household
• Commercial
• Industrial
• Shoes
• Automotive
• Clothing
• Furniture

Microfiber Market by Application [Volume (M lbs) and $M shipment analysis for 2016 – 2027]:

• Cleaning Cloths
• Synthetic Leather
• Others

Microfiber Market by Product Type [Volume (M lbs) and $M shipment analysis for 2016 – 2027]:

• Short Microfiber
• Long Microfiber

Microfiber Market by Region [Volume (M lbs) and $M shipment analysis for 2016 – 2027]:

• 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

List of Microfiber Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies microfiber companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the microfiber companies profiled in this report includes.

• Toray Industries
• Kuraray
• Huafon Group
• 3M
• Freudenberg Group

Microfiber Market Insight

• 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.
• 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.

Features of Microfiber Market

• Market Size Estimates: Microfiber market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Microfiber market size by various segments, such as material, application, product type, end use form in terms of value and volume
• Regional Analysis: Microfiber market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different material, application, product type, end use, and regions for the microfiber market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the microfiber market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the growth forecast for microfiber market?

Answer:The microfiber market is expected to grow at a CAGR of 3.5% from 2021 to 2027.

Q2. What are the major drivers influencing the growth of the microfiber market?

Answer: The major drivers for this market are increasing demand for reliable and eco-friendly fabrics for cleaning in household, hospitals, and other industries and growth in demand for eco-friendly synthetic leather.

Q3. What are the major applications or end use industries for microfiber?

Answer:Household, commercial, industrial, shoes, automotive, clothing, and furniture are the major end use industries for microfiber.

Q4. What are the emerging trends in microfiber market?

Answer: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.

Q6. Who are the key microfiber companies?

Answer:Some of the key microfiber companies are as follows:

• Toray Industries
• Kuraray
• Huafon Group
• 3M
• Freudenberg Group

Q7.Which microfiber product segment will be the largest in future?

Answer: Lucintel forecasts that polyester will remain the largest material during the forecast period due to its soft, durable, electrostatic, and filtering properties.

Q8: In microfiber market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific will remain the largest region and it is expected to witness the highest growth over the next 5 years

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

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. 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 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 material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?

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