DALLAS, Feb. 25, 2019 (GLOBE NEWSWIRE) -- 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, 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" at https://www.lucintel.com/microfiber-market.aspx
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.
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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, Acelon, and Double Elephant and others are among the major microfiber manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for 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.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com