USD 2 billion
Nylon Monofilament Market Size, Share, Growth Analysis, By Product(Nylon 6, Nylon 66, Others), By Application(Fishing Net, Medical, Automotive, Consumer Goods), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25M2038 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
65
|Figures:
75
Nylon Monofilament Market Insights
Nylon Monofilament Market size was valued at USD 2 billion in 2021 and is poised to grow from USD 2.13 billion in 2022 to USD 3.53 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).
The global market for nylon monofilament is primarily propelled by the expanding utilization of nylon monofilament within the consumer goods sector, which is intertwined with the burgeoning consumer goods industry. The heightened demand for fish-related products is also stimulating the growth of the fishing industry, thus providing impetus to the market. Furthermore, the increasing application of monofilament in the medical field, particularly in addressing diabetes, is expected to complement the global nylon monofilament market.
The escalating requirement for nylon monofilaments in the realms of commercial and technical textiles, as well as in the gardening sector, is anticipated to underpin its market demand.
In recent years, businesses have directed their efforts towards producing nylon monofilament using bio-based sources. Noteworthy trends among customers encompass the burgeoning fish food market and the advancement of medical applications such as neuropathy treatment. These customer trends are projected to provide substantial support to the nylon monofilament market.
US Nylon Monofilament Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Consumer Goods
Fastest Growth
Consumer Goods
Growth Rate
6.5% CAGR
Global Nylon Monofilament Market ($ Bn)
Country Share for Europe Region (%)
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Nylon Monofilament Market Segmental Analysis
The global nylon monofilament market is segmented on the basis of product, application, region. By product, the market is segmented into nylon 6, nylon 66, others. By application, the market is segmented into fishing net, medical, automotive, consumer goods, others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Nylon Monofilament Market Analysis By Application
The consumer goods segment asserts its dominance within the nylon monofilament market, underpinned by its diverse array of applications. This segment's supremacy is attributed to its extensive utility in various contexts, including gardening industry trimmer lines, racket strings, and furniture applications. The versatility of Nylon monofilament renders it a pivotal component across these consumer-oriented domains.
While Nylon monofilament's medical applications currently hold a relatively restricted scope, they exhibit a promising trajectory. This segment is poised to achieve the highest CAGR during the forecast period. The envisaged growth is propelled by increasing demand in medical applications and robust Research and Development (R&D) endeavors. As the medical field continues to explore innovative solutions, the potential applications of Nylon monofilament are likely to expand, solidifying its foothold in this critical sector.
Nylon Monofilament Market Analysis By Product
Nylon 6 stands as the dominant force in the market, closely pursued by Nylon 66. This leadership of Nylon 6 can be attributed to its burgeoning adoption in diverse sectors, particularly the medical realm for countering diabetes. Furthermore, its utility extends to applications like fishing nets, consumer goods, and the automotive industry.
The ascendancy of Nylon 6 is poised for further acceleration, projected to achieve the highest CAGR over the forecast period. This projection stems from its multifaceted suitability for varied applications, synergizing attributes that cater to diverse industries. As industries continue to recognize the advantageous properties of Nylon 6, including its economic viability, aesthetic adaptability, and potential for customization, its prominence in the market is expected to amplify.
Global Nylon Monofilament Market By Application
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Nylon Monofilament Market Regional Insights
Asia Pacific emerged as the predominant market for monofilament nylon, attributing its leadership to a surge in fish production and seafood consumption, combined with the region's abundant economic resources. The confluence of these factors propelled the Asia Pacific to the forefront of nylon monofilament adoption.
Concurrently, North America stands out as a significant player within the global nylon monofilament market. This prominence is primarily attributed to the escalating consumption of seafood, notably in the United States. The regional emphasis on seafood consumption, particularly in North America's influential markets, further reinforces the significance of this region within the market landscape.
Meanwhile, Europe is poised to undergo noteworthy growth during the review period. This projection is closely intertwined with the revival of the automotive industry within the region. As the automotive sector experiences rejuvenation, the demand for various components, including nylon monofilament for applications such as seat belts and braided sleeves, is expected to rise, contributing to the overall market expansion in Europe.
France, renowned for being a comprehensive wine producer, also stands as a notable player in this market scenario. The potential growth of the nylon monofilament market in France is driven by both its applications in the fishing industry, given the nation's seafood consumption patterns, and the need for high-quality components within the automotive sector. This interplay of factors positions France to exhibit substantial growth potential during the review period.
Global Nylon Monofilament Market By Geography
- Largest
- Fastest
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Nylon Monofilament Market Dynamics
Nylon Monofilament Market Drivers
Growing Consumer Goods Industry
- The expanding consumer goods sector is driving the demand for nylon monofilament in various applications such as trimmer lines, racket strings, and furniture components.
Increasing Demand in Fishing Industry
- The rising demand for fish products is fueling growth in the fishing industry, which in turn is boosting the requirement for nylon monofilament for fishing nets and related applications.
Medical Applications
- Nylon monofilament is finding increased usage in the medical field, particularly for applications related to countering diabetes. This is anticipated to contribute to market growth.
Nylon Monofilament Market Restraints
Environmental Regulations
- Stringent environmental regulations and guidelines from regulatory bodies such as the EPA may hinder market growth by affecting production processes and material disposal practices.
Raw Material Price Volatility
- The unpredictable fluctuations in raw material prices can impact the cost structure of nylon monofilament production, potentially affecting profitability.
Emergence of Substitutes
- Cheaper alternatives like polyesters may pose a challenge to the adoption of nylon monofilament in certain applications, affecting market growth.
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Nylon Monofilament Market Competitive Landscape
The competitive landscape of the global nylon monofilament market is characterized by the presence of several key players striving for market dominance and innovation. Leading manufacturers are engaging in strategic initiatives such as mergers, acquisitions, collaborations, and product launches to solidify their market positions and cater to evolving industry demands.
Prominent players are focusing on research and development activities to introduce advanced nylon monofilament products with enhanced attributes, such as improved strength, durability, and heat resistance. This emphasis on product innovation is aimed at meeting the diverse requirements of end-use industries, from consumer goods to medical applications and beyond.
Nylon Monofilament Market Top Player’s Company Profiles
- Hinafil India Ltd. (India)
- Ashley Polymers Inc. (USA)
- Engineered Monofilaments Corporation (USA)
- Superfil Products Ltd. (UK)
- Ningbo Judin Special Monofilament Co. Ltd. (China)
- Luftking Enterprise Co. Ltd. (Taiwan)
- Wenzhou Ruichang Special Monofilament Factory (China)
- Monosente Co. Ltd. (Japan)
- Tianjin Zhongheng Special Monofilament Co. Ltd. (China)
- Shenzhen New Fibers Co. Ltd. (China)
- Jiangsu Zhonglan Special Monofilament Co. Ltd. (China)
- Dongguan Xingfeng Special Monofilament Co. Ltd. (China)
- Guangzhou Senyang Special Monofilament Co. Ltd. (China)
- Jintongda Special Monofilament Co. Ltd. (China)
- S.D. Fine Chem. Limited (India)
- Jiangsu Tongxin Special Monofilament Co. Ltd. (China)
- Shandong Province Jinan Yongfeng Special Monofilament Co. Ltd. (China)
Nylon Monofilament Market Recent Developments
- In March 2023, Invista announced that it had opened a new nylon monofilament production facility in the United States.
- In February 2023, DSM announced that it had signed a joint development agreement with Borealis to produce nylon monofilament using a new technology.
- In January 2023, Toyobo announced that it had developed a new nylon monofilament that is resistant to UV radiation.
Nylon Monofilament Key Market Trends
- Shift towards Sustainable Solutions: There is a growing trend towards producing nylon monofilament from bio-based sources, aligning with the global shift towards sustainable and eco-friendly materials.
- Rising Demand for Medical Applications: The medical sector is witnessing an increasing adoption of nylon monofilament for various applications, particularly in diabetes treatment and other medical devices.
- Market Penetration in Emerging Economies: The expanding industrialization and economic growth in emerging economies are providing opportunities for market penetration and growth in these regions.
Nylon Monofilament Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global nylon monofilament market analysis, the global nylon monofilament market is poised for substantial growth driven by diverse factors such as the burgeoning consumer goods industry, escalating demand in the fishing sector, and increasing applications in medical solutions. While nylon 6 dominates the market, nylon 66 is also witnessing significant adoption due to its attributes in medical applications and beyond. Despite its promising outlook, the market faces challenges like environmental regulations and raw material price fluctuations. Notably, technological advancements, the emergence of sustainable solutions, and customization trends are shaping the market's trajectory. The competitive landscape showcases active participation from established players and newcomers, driven by innovation, strategic partnerships, and expansion efforts. As the market expands across regions like Asia Pacific, Europe, and North America, it is pivotal for stakeholders to navigate industry trends, capitalize on growth opportunities, and address challenges for sustained success.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 2 billion |
| Market size value in 2030 | USD 3.53 billion |
| Growth Rate | 6.5% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nylon Monofilament Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nylon Monofilament Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nylon Monofilament Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nylon Monofilament Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nylon Monofilament Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nylon Monofilament Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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