Nylon monofilament market Size to reach USD 2.56 Billion 2032 | Emergen Research

The global nylon monofilament market size was USD 1.50 Billion in 2022 and is expected to register revenue CAGR of 5.5% during the forecast period. The global nylon monofilament market is poised for substantial growth, driven by various factors such as the burgeoning automotive and agricultural industries, alongside the increasing prevalence of diabetes worldwide. A comprehensive market research report highlights key drivers, trends, and segment insights, providing valuable insights into the future trajectory of the market.

Driving Factors:
• Automotive Industry Growth: Nylon monofilament finds extensive usage in automotive engine parts such as crankcases, roller bearings, and oil containers. The surge in automotive production, particularly in the Asia Pacific region and Europe, is propelling market growth. For instance, advancements such as using nylon as fuel container linings for hydrogen-powered vehicles contribute to market expansion.

• Medical Sector Demand: With the rising global prevalence of diabetes, nylon monofilament is increasingly utilized in medical applications, particularly for screening diabetic feet. The market is bolstered by the escalating number of diabetes cases worldwide, fueling the demand for related medical devices.

• Supply-Demand Dynamics: The production of nylon monofilament relies on naphtha derived from crude oil refining. The volatility in crude oil prices significantly impacts market dynamics, influencing revenue growth. Moreover, the market faces competition from alternative materials such as linen, which poses a challenge to market expansion.

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Trends:
• Bio-based Nylon: Companies are increasingly focusing on producing nylon monofilament from bio-based sources, aligning with sustainability goals. Collaborations between industry players and biotechnology firms are driving innovation in this space, presenting substantial opportunities for market participants.
Segment Insights:
• Type Segmentation: The market is segmented into homopolymer, co-polymer, and reinforced nylon monofilament. The co-polymer segment dominates the market due to its flexibility, chemical resistance, and superior mechanical characteristics over time.

• Application Segmentation: Key application segments include fishing nets, agriculture, medical, automobile, and consumer goods, among others. The fishing net segment leads the market, driven by increased fish consumption and expansion of the fishing industry globally.

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Market Growth Projections:
• Agriculture Sector Expansion: The agriculture segment is expected to witness significant growth during the forecast period, fueled by the expansion of the agriculture industry worldwide. The increasing demand for nylon monofilament in agriculture, particularly as fishing lines, underscores its pivotal role in this sector.

Major Companies and Competitive Landscape

The global nylon monofilament market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective nylon monofilament.

Some major players included in the global nylon monofilaments market report are:
• ABC Polymer Industries, LLC
• AstenJohnson Inc.
• Atkins & Pearce
• ICF Mercantile LLC
• Nanjing Forever Textile Co., Ltd.
• RUICHANG MONOFILAMENT
• Shakespeare Company, LLC
• Shinkey Monofilament Enterprise Co., Ltd.
• Superfil Products Ltd.
• Toray Industries Inc.
• Hinafil India Limited
• Itochu Corporation
• Perlon GmbH
• Voith GmbH & Co. KGaA
• Engineered Monofilaments Corporation

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Strategic development
• In February 2021, ITOCHU Corporation and Aquafil S.p.A. announced a strategic agreement to advance and grow the circular nylon production industry. Their shared goal is a more sustainable future, which is demonstrated by their efforts to recover nylon waste and by developing, producing, and marketing ECONYL nylon products.
• On 04 November 2021, Toray Industries, Inc. announced a 20% effective price increase for nylon 66 yarns & derivative textiles used in automobile airbag applications, effective with shipments beginning from 01 December 2021.

Nylon Monofilament Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global nylon monofilament market on the basis of type, application, distribution channel, and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Homopolymer
o Co-polymer
1. Nylon 6
2. Nylon 66
3. Nylon 6/6-6
4. Nylon 6/9
5. Nylon 6/10
6. Nylon 6/12
7. Nylon 11
8. Nylon 12
9. Others
o Reinforced

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Consumer Goods
o Fishing Net
o Agriculture
o Wastewater Treatment
o Medical
o Automobile Fabrics
o Braided Ropes
o Others

• Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
o Online
o Offline

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of MEA

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