Market Overview:
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.
Competitive Analysis
- SUPERFIL
- Hinafil India Limited
- NYCOA
- Shinkey Monofilament Enterprise Co., LTD
- ONGC Petro additions Limited
- TORAY INDUSTRIES, INC.
- Polymer Industries
- Jarden Applied Materials, Jarden Process Solutions
- Engineered Monofilaments Corporation
- Albany International Corp
- Medical Monofilament Manufacturing
- Zeus Industrial Products, Inc
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.
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.
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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.
Intended Audience
- Monofilament manufacturers
- Traders and distributors of monofilament
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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