Monofilament, a single filament of synthetic fiber,
is widely used in the nylon fishing line. It can be made using nylon,
polyester, and polyolefins. Monofilaments are widely preferred in fishing lines
instead of multifilaments owing to flexibility, good shock strength, and
cost-effectiveness. The product finds use in fishing & agriculture net,
ropes, fabric, paper mill filters, textile conveyor belts, medical devices,
wastewater treatment, stretched tapes, and sports strings among others.
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The global monofilament market growth is driven by
the growing fishing industry as it provides both protein and source of income.
Expanding fish and other seafood production in both developed and developing
nations as a result of increased spending on animal food for protein is the
major driving factor for the global monofilament market. However, loss of
marine habitats due to eutrophication, shipping, and coastal area development
is projected to hamper the market growth in the upcoming years.
Expanding apparel & textile industry coupled
with changing fashion trends and rising disposable income of the consumers is
fuelling the product demand. Presence of major textile players in India and
China such a Bombay Dyeing and Manufacturing Company Ltd and Raymond Ltd among
others are uplifting the market growth.
Escalating medical industry as a result of
increased spending on healthcare coupled with rising geriatric population and
high per capita income in both developed and developing economies is likely to
drive the demand. Additionally, adoption of advanced techniques for curing
diseases is another important factor supporting the market growth. For
instance, Zeus introduced an LCP monofilament for use in catheter braiding
reinforcement, which will help in catheter construction without using metal.
Thriving automotive industry in the developing economies as a result of surging
demand for lightweight automobiles is expected to offer lucrative opportunities
for the monofilament market.
Regional Analysis; Asia Pacific was the largest market for monofilament in 2017 owing to
increased fish production and other seafood coupled with the vast availability
of economic resources. Expanding medical industry in India and China as a
result of growing concept of medical tourism is driving product demand in this
region.
North America is the prominent region in the global
monofilament market as a result of increasing consumption of seafood especially
in the U.S. Growing apparel and textile industry as a result of rising spending
on the apparels coupled with high per capita income of the consumers is likely
to boost the product demand.
Europe is likely to witness a significant growth
during the review period with reviving automotive industry in this region.
Additionally, France being the largest producer of wine is likely to exhibit a
significant growth during the review period. This is attributed to the
increasing monofilament’s use in vineyards owing to resistance to UV rays,
corrosion, pesticides, and fertilizers.
Latin American region is expected to exhibit a
considerable growth on account of growing lifestyle procedures market such as
surgical and non-surgical aesthetics & ophthalmology, especially in Brazil
and Mexico. Furthermore, flourishing apparel and textile industry with
changing trends and influence of western lifestyle are stimulating the demand.
The Middle East and Africa are likely to witness a
moderate growth during the review period with growing automotive and textile
industry. Increasing production of passenger vehicles, especially by the PSA
Groupe, is estimated to propel the market growth.
Segmentation; The global monofilament market is segmented by type, application, and
region.
On the basis of the type, the market is segregated
into nylon, polyester, and polyolefins. The nylon is further sub-segmented into
nylon 6 and nylon 66. The polyolefins are further sub-segmented into
high-density polyethylene (HDPE), polyethylene, and polypropylene.
On the basis of the application, the market is
segregated into fishing & agriculture, textile, medical, automotive,
wastewater treatment, and others.
Based on the region, the market is segregated into
North America, Europe, Asia Pacific, Latin America, and the Middle East &
Africa.
Key Players: Some of the key players in the global monofilament market are
SUPERFIL (India), Hinafil India Limited (India), NYCOA (U.S.), Shinkey
Monofilament Enterprise Co., LTD (Taiwan), ONGC Petro additions Limited
(India), TORAY INDUSTRIES, INC. (Japan), Polymer Industries (U.S.), Jarden
Applied Materials, Jarden Process Solutions (U.S.), Engineered Monofilaments
Corporation (U.S.), Albany International Corp (U.S.), Medical Monofilament
Manufacturing (U.S.), and Zeus Industrial Products, Inc. (U.S.).
To
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