Global Nylon Monofilament Market (2021-2026) – Growth, Trends, COVID-19 Impact, and Forecast
DUBLIN, September 29, 2021– (BUSINESS WIRE) – The report “Nylon Monofilament Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The Nylon Monofilament Market is expected to grow at a CAGR of over 5% during the forecast period (2021-2026).
ABC Polymer Industries, LLC
ASHLEY POLYMERS, INC.
Atkins and Pearce
Engineered Monofilaments Corporation (EMCO)
Shakespeare Company, LLC
TORAY INDUSTRIES, INC.
Voith GmbH & Co. KGaA
Key market trends
Growing demand for nylon monofilament from the fishing net segment
Nylon monofilament is a single, continuous filament of synthetic fiber. The most commonly recognized monofilament is nylon fishing line.
Nylon monofilaments have higher melting points than polypropylene and are generally extruded at temperatures on the order of 260 ° C.
Nylon monofilament is used to produce a variety of fishing nets. It is widely used as a fishing net due to its economical and durable properties.
The expansion of the fishing industry and the growing demand for fish are expected to drive the demand for nylon monofilament for fishing nets in the coming years.
According to the Food and Agriculture Organization of the United States, world fish production in 2019 was 177.58 million tonnes. Production in 2020 fell 1.7% due to the impact of COVID-19.
The growth of world fish production is expected to be stable year over year in 2021. Later, fish production is expected to resume with increased demand in the coming years and production is expected to reach 204 million. tons in 2030, which is expected to increase the demand for fishing nets and in turn drive the growth rate of nylon monofilament market.
Hence, due to the above mentioned factors, the application of nylon monofilament from fishing nets is likely to have a significant impact on the market during the forecast period.
The Asia-Pacific region will dominate the market
The Asia-Pacific region is expected to dominate the nylon monofilament market during the forecast period. Growing demand for nylon monofilament from fishing nets and increasing application in automotive industry in countries like China, Japan and India are expected to drive demand for nylon monofilament in this region.
China is the world’s largest consumer of fish and seafood. Consumption of seafood in China is increasing and it is estimated that around 18 million tonnes of demand-supply gap should be considered, as seafood consumption exceeds national production by 2030. The domestic seafood consumption in the country is expected to increase over the forecast. period, which is likely to improve the use of fishing nets in the country.
China’s National Development and Reform Commission (NDRC) announced that restrictions on the automotive market will be relaxed and appropriate subsidies will be provided to boost rural sales of certain vehicles, as well as the purchase of energy vehicles. news.
According to OICA, total vehicle sales in China amounted to around 25.31 million units in the year 2020 and decreased by almost 1.9% in terms of sales compared to the year 2019. This decline in sales is mainly impacted due to COVID-19, which impacted the market demand for automotive fabrics, and therefore the nylon monofilament market has also been affected.
India is the fourth largest producer of fish in the world due to its vast coastline and nearly 15 million people residing in more than 4,000 coastal regions engaged in fishing activity.
The auto industry is already facing a critical situation and is being hit hard by the spread of the corona virus. However, government reforms such as “Aatma Nirbhar Bharat” and “Make in India” programs are expected to boost the auto industry.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Nylon Monofilament from Fishing Nets
4.1.2 Other pilots
4.2.1 Government regulations on the use of nylon monofilament for medical purposes
4.2.2 Volatility of commodity prices
4.2.3 Adverse conditions due to COVID-19
4.2.4 Other restrictions
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Type of copolymer
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share (%) / Ranking analysis
6.3 Strategies adopted by the main actors
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Nylon Monofilament from Medical Industry
7.2 Other opportunities
For more information on this report, visit https://www.researchandmarkets.com/r/6832oj
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210929005430/en/
Laura Wood, Senior Press Director
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