Monofilament Market Research Report – Forecast to 2030

Monofilament Market Information: By Type (Nylon, Polyester, Polyolefin), Application (Fishing & Agriculture, Medical, Textile, Automotive, Wastewater Treatment, Consumer Goods, And Others), Region: Forecast Till 2030

ID: MRFR/CnM/4666-HCR | February 2023 | Region: Global | 100 Pages         

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Monofilament Market

Monofilament Market is projected to be worth USD 2,640.4 Million by 2028, registering a CAGR of 5.02% during the forecast period (2021 - 2028).

Segmentation
By Type Nylon Polyester Polyolefin
By Application Fishing & Agriculture Medical Textile Automotive Wastewater Treatment Consumer Goods Others
Key Players
Companies Profiled    SUPERFIL (India)   Hinafil India Limited (India)   NYCOA (U.S.)   ONGC Petro additions Limited (India)   TORAY INDUSTRIES INC. (Japan)   Polymer Industries (U.S.)   Jarden Applied Materials   Jarden Process Solutions (U.S.)   Engineered Monofilaments Co.   Albany International Corp (U.S.)   Medical Monofilament Manufacturing   Zeus Industrial Products Inc. (U.S.).
Drivers
Market Driving Forces    The growing fishing industry as it provides both protein and source of income.
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Monofilament Market Overview Monofilament Market is projected to be worth USD 2,640.4 Million by 2028, registering a CAGR of 5.02% during the forecast period (2021 - 2028). Monofilament, a single synthetic fiber filament, is commonly used in nylon fishing lines. Nylon, polyester, and polyolefins can all be used to make it. Because of their flexibility, stress resistance, and cost-effectiveness, monofilaments are often used in fishing lines instead of multifilaments. Fishing and agriculture nets, ropes, fabric, paper mill filters, textile conveyor belts, medical devices, wastewater treatment, stretched tapes, and sports strings are just a few of the applications for the product. The expanding fishing industry, which supplies both protein and income, is driving the global monofilament market. The medical business is expected to grow as a result of increased spending on healthcare. The key driving factor for the worldwide monofilament market is the expansion of fish and other seafood production in both developed and developing countries as a result of increased expenditure on animal food for protein. Product demand is being fueled by the expanding apparel and textile sector, changing fashion trends, and increased disposable income of consumers. Major textile businesses such as Bombay Dyeing and Manufacturing Company Ltd and Raymond Ltd, among others, are boosting market expansion in India and China. The medical business is expected to grow as a result of increased spending on healthcare, a growing geriatric population, and high per capita income in both developed and developing nations. Another major element driving market growth is the implementation of sophisticated procedures for treating diseases.

Global Monofilament market share, by type (%)


 Monofilament market share


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.).Recent Development


Toray Industries, Inc announced a 20 percent price increase for nylon 66 yarns and derivative textiles for automobile airbag applications on November 4, 2021. The new costs are effective for shipments beginning on December 1st. Zeus has developed an LCP monofilament for catheter braiding reinforcement, which will enhance catheter fabrication without the usage of metal. The monofilament market is likely to benefit from a thriving automotive industry in developing economies as a result of the rising demand for lightweight autos.

Intended Audience



  • Monofilament manufacturers

  • Traders and distributors of monofilament

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2030: Significant Value
  •   CAGR   Substantial CAGR (2021-2030)
      Base Year   2021
      Forecast Period   2021 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   by type, Application
      Geographies Covered   North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
      Key Vendors   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.).
      Key Market Opportunities   Thriving automotive industry in the developing economies as a result of surging demand for lightweight automobiles is expected to offer lucrative opportunities
      Key Market Drivers   The growing fishing industry as it provides both protein and source of income.


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    Frequently Asked Questions (FAQ) :

    The large fishing industry is the biggest driver of the global monofilament market.

    Loss of marine habitats due to continuous fishing may be detrimental to the global monofilament market growth.

    Nylon holds the largest market share under the ‘type’ segment in the global monofilament market.

    Asia Pacific occupies the largest market share in the global monofilament market due to the burgeoning medical sector.

    NYCOA, Zeus Industrial Products, Inc., Jarden Applied Materials, Jarden Process Solutions, SUPERFIL, Engineered Monofilaments Corporation, Hinafil India Limited, Shinkey Monofilament Enterprise Co., LTD, Medical Monofilament Manufacturing, ONGC Petro additions Limited, TORAY INDUSTRIES, INC., Albany International Corp, Polymer Industries are some of the biggest names of the global monofilament market.