Overview:
The monofilament market, as per the latest report of Market Research Future (MRFR), can rise with a robust CAGR during the forecast period (2021-2028) and attain a remarkable valuation. Monofilament is a type of fiber with a single filament and is mostly used in fishing to manufacture the nylon fishing line. Mostly made of nylon, polyester, and polyolefins, its flexibility, shock resistance, and affordability make it better than the multifilaments. Monofilaments are also easy to handle; its knot trying and stretch features are superior to that of the multifilament. The product comes in an array of colors which creates enough scope for the market to operate. MRFR in their report made a definitive study of the segments for a better overview of the market. The report also comes with an analysis of the factors that can trigger the future market growth.
The fishing industry is one of the major sectors that is finding widespread use of the product. Hence, rapid growth can be expected due to traction. The fishing industry is burgeoning both as an important chain for the food sector and livelihood. This can directly impact the manufacturing of monofilament fishing nets. The product is also enjoying much recognition in the apparel and textile industry. Coupled with the rising disposable income, the sector is providing much traction to the monofilament market. At the same time, the medical industry is bound to push the market further ahead. Monofilaments are widely used as suture and catheter braiding reinforcement. The automotive industry is also expected to emerge as a lucrative scope for the monofilament market expansion.
Segmentation:
MRFR segments the Monofilament Market Share by type and application for a comprehensive understanding of the upcoming market demography.
Based on the type, the monofilament market can be segmented into nylon, polyester, and polyolefins. The nylon segment is further sub-segmented into nylon 6 and nylon 66. The polyolefins segment includes high-density polyethylene (HDPE), polyethylene, and polypropylene.
Based on the application, the monofilament market can be segmented into fishing agriculture, automotive, textile, wastewater treatment, medical, and others.
Regional Analysis:
MRFR segments the monofilament market regionally into Asia Pacific (APAC), North America, Latin America, Europe, and Middle East Africa (MEA).
The APAC market has the largest share of the global market. The fish production industry is thriving in the region, and the economic resources are coming in quite handy to support the monofilament industry. Simultaneously, India and China are emerging as medical tourism hub which is providing thrust to the regional monofilament market.
North America’s love for seafood can be considered crucial in the promotion of the regional market. At the same time, apparel and textile industries are also growing at a rapid pace which can substantially boost the monofilament market in the coming years.
Europe is witnessing significant growth in the regional market, and the credit can be given to France’s wine industry where monofilament sutures are getting substantial recognition. Latin America mostly banks on the surgical and non-surgical aesthetics and ophthalmology and its growth, along with, the textile can promote the regional market. The MEA market can also experience the impact of growing traction from the automotive and textile industries.
Competitive Landscape:
Remarkable players in the global monofilament market, as reported by MRFR, are SUPERFIL (India), Hinafil India Limited (India), Shinkey Monofilament Enterprise Co., LTD (Taiwan), NYCOA (U.S.), Medical Monofilament Manufacturing (U.S.), ONGC Petro additions Limited (India), TORAY INDUSTRIES, INC. (Japan), Polymer Industries (U.S.), Jarden Applied Materials, Jarden Process Solutions (U.S.), Albany International Corp (U.S.), Engineered Monofilaments Corporation (U.S.), and Zeus Industrial Products, Inc. (U.S.).
In 2018, Surgical Innovation Associates launched DuraSorb Monofilament Mesh that is made of bioabsorbable products and can be used in reconstructive or cosmetic surgery. The product provides support to soft tissues and then dissolves within a year. The product recently received its FDA clearance as well.
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