Press release
Nylon Monofilament Market Size is expected to garner USD 3.2 billion, Key Players Strategies and Forecast to 2029 - Ashley Polymers, INC., Toray Industries, Inc
The global market for Nylon Monofilament estimated at USD 1.8 billion in 2022, is projected to reach a revised size of USD 3.2 billion by 2029 registering a compounded annual growth rate (CAGR) of 5.9% over the period 2023-2029.The latest report titled Nylon Monofilament Market contains wide-broadening quantifiable facts of the market and studies current industry circumstances on a large scale to offer the market consequences, market value, and growth valuation. The report includes skilful examination, data on the overall market, as well as constraints and headway purposes of the future along with a noteworthy perception of the improvement of the global Nylon Monofilament market.
The report describes the profile of the top manufacturers of the global Nylon Monofilament market. It also covers segments such as competitor segment, product type segment, end use/application segment, and geography segment. The authors of the report have examined market demand, turnover, production and growth potential, geographic analysis, as well as current market developments in various regions and countries.
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Competitive Assessment:
The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Nylon Monofilament market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.
Leading market players in the Nylon Monofilament market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Nylon Monofilament market is Ashley Polymers, INC., Toray Industries, Inc., Engineered Monofilaments Corporation (EMCO), Superfil, ABC Polymer Industries, LLC, Hinafil India Ltd., Ashley Polymers Inc., Engineered Monofilaments Corporation, Toray Monofilament Co. Ltd., Superfil Produc and others.
On November 4, 2021, Toray Industries Inc. announced the price increase of nylon 66 yarns and derivative fabrics, for automotive airbag applications, by around 20%. The new prices became effective with shipments starting December 1.
Nylon Monofilament Market Segmentation:
Nylon Monofilament Market by Product, 2023-2029, (USD Million), (Kilotons)
Nylon 6
Nylon 66
Others
Nylon Monofilament Market by Application, 2023-2029, (USD Million), (Kilotons)
Fishing Nets
Medical
Automotive
Consumer Goods
Other
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Regional Framework
The Nylon Monofilament Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the years 2023-2029 with respect to five major regions. The market by each region is later sub-segmented by respective countries and segments. The Nylon Monofilament market report covers the analysis and forecast globally along with the current trend and opportunities prevailing in the region.
⇨ North America (United States, Canada, and Mexico)
⇨ Europe (Germany, France, UK, Russia, and Italy)
⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
⇨ South America (Brazil, Argentina, Colombia, etc.)
⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Nylon Monofilament Market Drivers
The growing agricultural industry is one of the significant factors driving the Nylon monofilament market
The growing agriculture industry across the globe is one of the significant factors driving the demand for Nylon Monofilament Market, as it is majorly used as nylon fishing line. According to Statistics Bureau of Japan, the total value of farm production in Japan was US$84,162 million during the year 2022, an increase of 2.63% from US$81,999 during the year 2029. According to the US department of agriculture, the agriculture and food related industries in USA contributed about 5.2% share of the total GDP during the year 2022. According to National statistics of UK, the production of seeds increased by 17% in the year 2022 and the production of plant protection products increased by 10%. This will further increase the demand for Nylon Monofilament Market.
The increasing case of diabetes patients across the globe is increasing the demand for Nylon monofilament market.
Nylon monofilament is used as an instrument in screening diabetic foot for loss of protective sensation. This is done to see how the nerves respond to vibration and changes in temperature. Therefore, the increase in the case of diabetes across the globe is giving rise to the demand for Nylon Monofilament Market. According to International Diabetes Federation, approximately 463 million adults (20-79 years) are living with diabetes as of the year 2022 and the number of cases can increase to 700 million by the year 2029. Diabetes also caused at least US$760 billion dollars in health expenditure during 2022. This will further lead to an increase in demand for the Nylon Monofilament Market.
Nylon Monofilament Market Challenges
Volatile raw materials are hampering the growth of the Nylon Monofilament Market
Nylon monofilament is manufactured from the refining of crude oil using naphtha. Crude oil is a highly volatile commodity owing to its constantly changing supply-demand scenario. The volatility in the crude oil prices acts as one of the biggest challenges to the Nylon Monofilament Market. The price of crude oil decreased by 20.54% in the year 2022, increased by 34.46% in the year 2022, decreased by 24.84% in 2022 and increased by 12.47% in the year 2029 across the world. This depicts the volatile nature of crude oil and therefore is one of the biggest challenges to the Nylon Monofilament Market. Whereas, the substitutes like linen which is highly resistant to many extreme conditions and also cheaper is a major challenge to the Nylon Monofilament Market.
This Report Also Includes:
» Nylon Monofilament Market Insights methodology
» Tactics and suggestions for new entrants
» Segmentation analysis
» Economic indices
» Companies' strategic developments
» Nylon Monofilament Market growth drivers and restraints
» Selected illustrations of the market penetrations and trends
Crucial insights in Nylon Monofilament research report:
Underlying macro- and microeconomic factors impacting the Sales of Nylon Monofilament.
Basic overview of the Nylon Monofilament, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Nylon Monofilament across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.
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The Study Objectives are:
✔ An in-depth look at the key players in the Nylon Monofilament market, as well as the data that goes with them.
✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.
✔ Regional analysis, which includes information on the dominant Nylon Monofilament market and its share of the market.
✔ It also includes various socioeconomic factors that influence the market's evolution in the region.
✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.
Key questions answered in the report:
✦ What is the Nylon Monofilament market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Nylon Monofilament Market in the coming years?
✦ What are the most significant challenges that the global Nylon Monofilament Markets may face in the future?
✦ What are the top companies in the global Nylon Monofilament market?
✦ What are the main trends that are positively impacting the market's growth?
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