A synthetic fibre with a diameter of less than 10 micrometres is known as microfiber. Fabric is made from microfiber, which is a polyester and nylon (polyamide) fibre. The fibre is broken down into many smaller pieces than a human hair. Because it can penetrate cracks and crevasses that cotton cloths or paper towels cannot, it is a fantastic tool for cleaning and germ elimination. It is also suitable for any skin type, including oily, sensitive, and dry, and it is safe to use on the lips and eyes. This cloth is intended to remove makeup from the face using only water and no other chemicals. Polyesters, polyamides (e.g., nylon, Kevlar, Nomex, trogamide), or a conjugation of polyester, polyamide, and polypropylene are the most frequent types of microfibers (Prolen). Mats, knits, and weaves made of microfiber are used in clothes, furniture, industrial filters, and cleaning goods. Softness, toughness, absorption, water repellency, electrostatics, and filtration capacities are all factors considered while choosing the shape, size, and combinations of synthetic fibres.
COVID-19 Impact analysis
The recent COVID-19 pandemic has caused the global economy to slow down. The food, pharmaceutical, and chemical industries are all experiencing significant sales declines. The microfiber market is rapidly approaching pre-COVID levels, with a robust growth rate predicted over the forecast period, owing to the economic recovery in most emerging countries. Unprecedented scenarios, however, because of the predicted third and subsequent waves, are casting a bleak picture. This study aims to assess the influence of COVID on the future of the Microfiber market under several scenarios.
Top Impacting Factors
The microfiber market has grown significantly because of factors such as the expansion of the food industry. Furthermore, the growing disposable income combined with a shift in consumer lifestyle creates a large market opportunity for the microfiber market's key players. However, a lack of consumer awareness of microfiber is expected to stymie the market's total growth. Cleaning cloths are in high demand in a variety of industries, including automotive, domestic, industrial, commercial, and more. Its use in synthetic leather in the automobile industry, as well as furniture and shoes, will allow major businesses to increase their profits.
- The microfiber market has a bright future, with applications in cleaning cloths for the home, commercial, industrial, and automotive industries, as well as synthetic leather for shoes, furniture, and automobiles.
- Growing demands for environmentally friendly cleaning materials in companies, residences, and hospitals are the main drivers of revenue growth. Furthermore, the worldwide microfiber market is predicted to develop due to an increase in the usage of environmentally friendly synthetic leather over the forecast period.
- Material, End-User, and application are the three segments that make up the worldwide microfiber market. The global microfiber market is classified into three categories based on material: polyester, polyamide, and others. End-User into home, commercial, industrial, shoes, automotive, clothing, and furniture segment the global microfiber market.
- Since its introduction to the market, high-performance microfiber has gotten a lot of attention. It is mostly used to manufacture microfiber leather and microfiber cleaning cloths as a novel material. Microfiber is created during the manufacturing of microfiber leather or microfiber cleaning cloths. Microfiber demand has remained steady over the last few years. Downstream demand will continue to improve in the future as people's quality of living improves.
- Because the global market is likely to develop significantly because of increased applications, microfiber consumption is expected to grow steadily in the next years. In terms of product prices, the recent moderate declining trend will continue in the future.
- The Asia Pacific region will continue to be the largest geographical area, and it is expected to grow at the fastest rate during the projection period. Growing demand for microfibers in the bag, automobile, electronics, shoes, and leaning cloth sectors in countries like China, Taiwan, South Korea, and Japan will encourage this expansion.
Key Benefits of the Report
- This study presents the analytical depiction of the microfiber market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the microfiber market share.
- The current market is quantitatively analyzed to highlight the microfiber market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed microfiber market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Microfiber Market Report
- Who are the leading market players active in the microfiber market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is microfiber?
- What does microfiber allow organizations to achieve?
- Which technologies combine to make microfiber critical organizational asset?
- What are the current trends and predicted trends?
Microfiber Market Report Highlights
Key Market Players
Acelon Chemical, SISA, Duksung, Wanhua, Sanfang, Double Elephant, Hexin, Norwex, KB Seiren, Meisheng, Vileda, Hengli, Far Eastern, Tricol, Huafon Microfibre, Ningbo Green Textile