Microfiber Market Projected to Reach US$ 690
million globally by 2023
Microfiber Market research report 2019 - 2023 provides the newest
industry data and industry future trends, allowing you to identify the
products and end users driving Revenue growth and profitability.
Global Microfiber Market Synopsis:
According to Market Analyst, The Global Microfiber Market is expected to grow at an impressive
Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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The Microfiber industry has also suffered a certain impact, but still maintained a relatively optimistic
growth, the past four years, Microfiber market size to maintain the average annual growth rate of
0.016675858613 from 580.0 million $ in 2014 to 630.0 million $ in 2018, Market analysts believe that in
the next few years, Microfiber market size will be further expanded, we expect that by 2023, The market
size of the Microfiber will reach 690.0 million $.
Microfibers are primarily used in the textile industry for cleaning and shining applications. Rising
awareness about the importance of cleaning is boosting demand for cleaning services such as the
cleaning of the window, floor, and roof from both the residential and commercial services. This factor is
boosting the adoption of microfibers and likely to fuel the growth of the microfibers market.
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.
Regionally, North America is dominating the global microfibers market. This growth of global microfibers
market is attributable to the growing inclination toward cleanliness of people living in developed
countries such as the US and Canada. Additionally, owing to the growing demand from the developing
countries such as India, China, and Japan, Asia Pacific region is expected to witness lucrative growth over
the forecast period.
This report focuses on Microfiber volume and value at the global level, regional level and company level.
From a global perspective, this report represents the overall Microfiber market size by analyzing
historical data and future prospect. At the company level, this report focuses on the production
capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.