According to study, “World Microfiber Market Research Report 2024(Covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world microfiber market are Toray, Teijin, Kuraray,3M, Kolon, Sheng Hong Group, KB Seiren, Eastman, Asahi Kasei, Sanfang, Norwex, Hexin, Vileda, HuafonMicrofibre, Duksung, Acelon Chemical, SISA, Ningbo Green Textile, Double Elephant, Wanhua, Far Eastern, Meisheng, Tricol, Hengli. The key companies operating in the market are facing intense competition, with the purpose of overcome this competition as well as focusing on product advancement & product differentiation. Additionally, for improving the product portfolio & expanding the business, the key vendors are taking part into activities for instance acquisitions, mergers, and partnerships.
Microfiber is a synthetic or artificial fiber, which measures less than one denier. It is primarily used in the textile industry for cleaning & shining applications. It is used as blankets, table cloths and other home furnishings. It is durable & last for a longer time than any other textile material. It can effectively remove the large quantities of microbes. The key properties are included wrinkle resistance, soft, durable, light weight, impermeability, stain-resistance, easy wash ability, good isolation and breathing ability.
Based on type, microfiber market is segmented into short microfiber and long microfiber. Based on material type, market is segmented into polyamides, polyesters conjugation of polyesters and polyamide. Polyester holds major share in market owing toits soft, electrostatic, durable, and filtering properties. Additionally, polyamide is anticipated to witness the highest growth due to increase in demand for polyamide composite cleaning cloths as it provides better cleaning than polyester based cleaning cloths over the forecast period. Based on technology, market is segmented into electro spinning, melt spinning and melt blowing. Based on product type market is segmented into microfiber cleaning cloths and microfiber leather. In addition, based on application, market is segmented into bathroom/laundry room, cleaning computer screen/printers & scanners, kitchen (cleaning sinks, ceramic stove tops, stainless steel, granite counter tops, cabinets and microwave ovens), around the house (mirrors, windows, furniture and glass), car washing, wipe up spilled liquid on floors and others.
The microfiber market is driven by rise in awareness about the importance of cleaning for cleaning services (cleaning of window, roof and floor from both residential and commercial services), followed by increase in disposable income, rise in textile industries, increase in demand for reliable & eco-friendly materials and growth in expenditure power. However, environmental concerns related to using the microfibers, growth in concern about clean water & initiatives for clean water resources and material can emit the toxic gases may impact the market.
Based on geography, USA country holds major share, followed by EU in microfibermarket owing to growth in inclination toward cleanliness of people living in the country. China and Japan countries are expected to witness lucrative growth rate due to increase in demand for microfibers in furniture, bags, cleaning clothes, shoes, automotive, & electronics industries and rise in demand from the developing countries over the forecast period. In 2019, the market revenue value is US $630 million and it is expected that the market will be reached at US $720 million, by 2024.
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Ankur Gupta, Head Marketing & Communications