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.
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 Browse a Complete Report with TOC Visit @ https://www.marketresearchfuture.com/reports/monofilament-market-6124
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