According to a market report by Lucintel, the future of the monofilament market looks promising with opportunities in the fishing & agriculture, medical, textile, automotive, wastewater treatment, and consumer good applications. The global monofilament market is expected to reach an estimated $1.9 billion by 2028 with a CAGR of 5.2% from 2023 to 2028. The major drivers for this market are increasing production of fish and other seafood, growing expenditure on animal food for protein across the globe, and escalating demand for monofilament in apparel and textile industries.
In this market, nylon, polyester, and polyolefin are the major product type segments. Lucintel forecast that nylon will remain the largest product type segment over the forecast period as it ensures excellent tensile strength and elasticity.
Within this market, fishing & agriculture is expected to remain the largest application segment due to expansion in the fishing industry and increasing demand for fish foods in the developed and developing countries.
APAC will remain the largest region due to significantly growing fish production and other seafood along with increasing demand for monofilament in the commercial and technical textile industries in this region.
NYCOA, TORAY INDUSTRIES, Polymer Industries, Albany International, and Zeus Industrial are the major suppliers in the global monofilament market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global monofilament market by product type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Monofilament Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global monofilament market by product type, application, and region, as follows:
Monofilament Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Nylon
Polyester
Polyolefin
Monofilament Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Fishing & Agriculture
Medical
Textile
Automotive
Wastewater Treatment
Consumer Goods
Others
Monofilament Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global monofilament market by product type (nylon, polyester, and polyolefin), application (fishing & agriculture, medical, textile, automotive, wastewater treatment, consumer goods, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?