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 2021 | Region: Global | 100 pages

Monofilament Market Speak to Analyst Request a Free Sample

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.


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.


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.).


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.


    Speak to Analyst Ask for Customization

    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.