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Lucintel Forecasts Microfiber Market to Grow at a CAGR of 2.5%

  • June 05th, 2021
  • 118 views

Dallas, TX / CRWE PRESS RELEASE / June 05, 2021 -  According to the recent study the microfiber market is projected to grow at a CAGR of 2.7% from 2020 to 2025. Growth in this market is primarily driven by 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 157 figures / charts and 130 tables in this 226 -page report to understand trends, opportunities and forecast in 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).

Download sample report by clicking on below link https://www.lucintel.com/downloadreportsample.aspx?RepId=RPT2156 and view detailed Table of Content here – https://www.lucintel.com/microfiber-market.aspx

“Polyester market is expected to remain the largest segment during the forecast period.”

Based on material, the microfiber market is segmented into polyester, polyamide, and others. Lucintel forecasts that the polyester is expected to witness the largest segment over the forecast period due to its soft, durable, electrostatic, and filtering properties and 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, the electrical and electronics segment is expected to remain the largest end use industry”

Based on end use industry, the household segment is expected to witness the largest end use industry over 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 dominate the microfiber market in near future”

Asia Pacific is expected to be the largest region over the forecast period and 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.

Download Brochure of this report by clicking on https://www.lucintel.com/microfiber-market.aspx

Major players of microfiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. 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 providers.

This unique 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

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