Market Segmentation:
The global 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.
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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.
Competitive Analysis
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.).
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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