The Global Nylon Monofilament market is forecast to reach USD 2.53 Billion by 2027, according to a new report by Reports and Data. Monofilament can be defined as a continuous, single strand of synthetic fiber. One of the most commonly used polymer filaments used for its production is nylon, which is opted because of its high durability and resistance to corrosion. It is woven from extruded synthetic filaments manufactured in diameters from 30 µm to 3 mm. One of the major advantages of the filament made from nylon is, because of its ductility, it can be flexed number of times without fatigue or hardening. It can be dented or folded with minimal scope for damage as compared to metal cloth, and it is lighter. It has become essential as filter media in various applications and industries. Due to its trait of corrosion resistance, uniformity, and low cost and ability of withstanding vibration, it has effectively replaced various other types of media. The major users of the filament are industrial hydraulics, chemical, and food processing sector, automotive and appliance industry, and the medical sector. Thus, such a wide arena of applications is fostering the growth of the sector.
In regards to region, Europe can be seen to occupy a considerable share of the market. The market share held by the region is attributed to the high demand for consumer goods and expanding automotive sector, which is supporting the expansion of the market in this region.
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The comprehensive analysis of the Nylon Monofilament market assists businesses in gaining a competitive advantage and helps them reach their business goals and objectives. The global Nylon Monofilament market research report is formulated with the descriptive profiles of the leading companies of the market along with their pricing analysis, gross revenue, financial standing, sales network and distribution channel, profit margins, and market position. This offers the readers a complete understanding of the competitive landscape of the Nylon Monofilament industry.
The Nylon Monofilament research report draws focus on the strengths and weaknesses of the key players of the market through a comprehensive SWOT analysis and Porter’s Five Forces analysis to project the growth rate.
Key participants include Hinafil India Limited, Ashley Polymers Inc, Toray Monofilament Co. Ltd., Engineered Monofilaments Corporation (EMCO), Ningbo Judin Special Monofilament Co. Ltd, Superfil Products Ltd., Wenzhou Ruichang Special Monofilament Factory, Perlon Monofil GmbH, ABC Polymers, Inc. and Luftking Enterprise.
The global Nylon Monofilament market report further segments the market based on product types offered by the market, applications, and key geographies of the market. The research study assesses the market in terms of market size, volume, revenue, and share.
Furthermore, the report also offers an accurate assessment of the market share and customer base of the Nylon Monofilament market in the major geographical regions of the world. The report also analyzes the growth of the individual segments of the Nylon Monofilament industry throughout the forecast period.
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Nylon 66
- Nylon 6
Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Fishing Net
- Consumer Goods
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Nylon Monofilament market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Further key findings from the report suggest
- The Nylon Monofilament market held a market share of USD 1.71 Billion in the year 2019 that is forecasted to grow at a rate of 5.0% during the forecast period.
- In context to Product Type, the Nylon 66 segment is projected to witness a considerable growth rate of 5.3% during the forecast period, which is expected to occupy more than 45.0% of the market by 2027. The growth rate witnessed by the H Nylon 66 segment is attributed to its traits like rigidity, high mechanical strength, chemical resistance and good stability under heat that has resulted in its growing demand as the polymer for this filament, which contributes to the growth rate witnessed by this segment.
- In context to Distribution Channel, the Online segment is projected to witness a considerable growth rate of 3.9% during the forecast period, which is expected to hold more than 30.0% of the market share by 2027. The continuously expanding e-commerce sector, its enhanced reachability, and ease of buying from this distribution channel for the consumers have resulted in its growing popularity and growth rate witnessed by this segment.
- In regards to Application, the Consumer Goods segment held a considerable share of the market, which held more than 25.0% of the market in 2019, with a CAGR of 5.2% during the forecast period. The wide range of applications of this filament in consumer goods lie in racket strings, furniture, gardening equipment, contributes to the market share held by this segment.
- In regards to the region, North America held more than 20.0% of the market in 2019, with a CAGR of 5.1% during the forecast period. The well-established consumer goods sector and automotive industry are supporting the growth of the sector in this region.
In conclusion, the report offers an extensive panoramic view of the Nylon Monofilament industry, backed by key statistical data and figures garnered from authentic sources and thorough primary and secondary research. The report offers a thorough examination of the size, shape, and volume of the market to offer an accurate forecast estimation of the Nylon Monofilament industry till 2027. The report also strives to offer strategic recommendations to the new players entering the Nylon Monofilament industry and guide them for overcoming entry-level barriers. It also offers recommendations to the established companies to fortify their presence in the Nylon Monofilament market and capitalize on the emerging opportunities in the industry.
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