Monofilament Market Overview to 2023:
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.
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.
Competitive
Analysis
Ø
SUPERFIL
Ø
Hinafil
India Limited
Ø
NYCOA
Ø
Shinkey
Monofilament Enterprise Co., LTD
Ø
ONGC
Petro additions Limited
Ø
TORAY
INDUSTRIES, INC.
Ø
Polymer
Industries
Ø
Jarden
Applied Materials, Jarden Process Solutions
Ø
Engineered
Monofilaments Corporation
Ø
Albany
International Corp
Ø
Medical
Monofilament Manufacturing
Ø
Zeus
Industrial Products, Inc.
Market
Segmentation
The Monofilament
Market is segmented into type, application, and region.
On the basis of the type, the
market is segregated into nylon, polyester, and polyolefins. The nylon is
further segmented into nylon 6 and nylon 66. Polyolefins are further segmented
into high-density polyethylene (HDPE), polyethylene, and polypropylene.
Nylon is the widely used
monofilament owing to high tensile strength, viscosity, elongation, and
abrasion resistance. It is increasingly used in fishing nets, ropes, insect
screen, garden trimmer lines, vineyards, stretched tapes, and tarpaulin.
Polyester monofilament finds application in the textile industry for conveyor
belts, paper mill filters, and zip fasteners.
On the basis of the application,
the market is segregated into fishing & agriculture, textile, medical,
automotive, wastewater treatment, and others. The fishing and agriculture
segment accounted for the largest market share owing to increasing demand for
seafood across the regions. Rising production and supply of seafood in the
developing nations such as India, China, and Thailand among others are
augmenting the market growth. The medical industry is the fastest growing
application for monofilament owing to rising demand for the non-invasive
medical procedures globally.
Based on the region, the market
is segregated into North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa.
Regional
Analysis
Based on the region, the market
is segregated into North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa.
Asia Pacific was leading the
global monofilament market in 2017 and is expected to grow at a significant
rate during the review period with growing fishing and agricultural industry.
This is with respect to the rising demand for seafood coupled with increasing
disposable income of the consumers. Additionally, growing agricultural industry
with surging demand for nutritious food products is stimulating the
monofilament demand.
North America emerged as the
second largest market owing to escalating demand for seafood. Furthermore,
burgeoning medical industry coupled with increased spending on healthcare and
rising geriatric population is likely to propel the market growth.
Europe is the prominent region in
the global monofilament market due to growing medical industry as a result of
rising R&D activities, especially in Germany. Latin America and the Middle
East & Africa are likely to show a healthy growth during the review period
with growing major end-use industries.
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