Nylon Monofilament Market Size Worth USD 2.56 Billion in 2032 | Emergen Research

Vancouver, Jan. 23, 2024 (GLOBE NEWSWIRE) -- 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. Factors such as growing production of automobiles & agricultural industry and increasing number of diabetic patients in medical sector act as driving factors for market revenue growth.

The automotive industry is one of the major consumers for nylon monofilament. Crankcases, roller bearings, oil containers, timing belts, crankcase bushings, wire harness connectors, and oil tank reservoirs are among the automotive engine parts composed of nylon. The primary factors driving rise in automotive production are rapid growth of the Asia Pacific market and the consistent expansion of the European automotive industry.

A liner is necessary to maintain hydrogen inside a petrol tank to avoid leaks. In addition, nylon is robust, stiff, abrasion-resistant, chemical- and temperature-resistant, and resilient, thus it can be used as a film or coating to stop raw materials from corroding. As a result of these improvements, the utilization of nylon in the automobile industry has increased owing to the fact that it is a less harmful material to the environment than plastic. The materials allow designers greater creative freedom to create unusual designs without compromising the vehicle's stability or safety because they are lightweight and flexible.

As a growing trend, companies have recently concentrated on making nylon monofilament from bio-based sources. The expanding market for specialized and bio-based nylons has substantial opportunities for global industry participants. For example, in collaboration with the biotechnology business Geno, the Canadian sportswear brand Lululemon unveiled its first collection of shirts composed of plant-based nylon in April 2023.

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Segment Insights

Type Insights:

On the basis of type, the global nylon monofilament market is segmented into homopolymer, co-polymer and reinforced. The co-polymer segment accounted for the largest revenue share in 2022. Nylon monofilament is made of at least two polymers. Copolymers can be flexible and offer a high level of chemical resistance. Copolymers provide better mechanical characteristics over time in addition to increased resistance. Copolymers have greater stability and strength. It is more robust and has a higher tensile strength when compared to a single polymer. Copolymer monofilament has a longer half-life and increases stability.

Application Insights:

On the basis of application, the global nylon monofilament market is segmented into consumer goods, fishing net, agriculture, wastewater treatment, medical, automobile fabrics, braided ropes and others. The fishing net segment accounted for largest revenue share in 2022. Nylon fishing line is the most well-known application of nylon monofilament. Synthetic fibre with a single continuous strand is called nylon monofilament. Nylon monofilaments are commonly extruded at temperatures ranging from 260°C to 270°C, having a higher melting point than polypropylene. Nylon monofilament is utilized in creating a variety of fishing nets owing to its affordable price and durability. The expansion of the fishing industry and increased fish consumption are expected to drive up demand for nylon monofilament in the coming years for applications involving fishing nets.

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Regional Insights:

Asia Pacific accounted for the largest revenue share in 2022. This region's requirement for nylon monofilaments is expected to be driven by the expanding use of the material in fishing nets and its expanding automotive sector uses in countries such as China, Japan, and India. Fish farming is one of the main industries in the Asia Pacific. The region is expected to produce 94 million metric tonnes of fish and aquaculture by 2030, according to the UN Food and Agriculture Organisation. According to the Indian Brand Equity Foundation, India is the world's second-largest aquaculture country and the third-largest fish producer. The strategy for FY 2025 is that by 2025, fish exports should have doubled from USD 5.72 billion to USD 12.28 billion.

In addition, high tensile strength and other advantageous qualities make nylon monofilament a popular choice in the automobile industry for preventing hoses and wire harnesses from ripping. The International Organisation of Motor Vehicle Manufacturers (OICA) estimates that China's overall vehicle manufacturing volume in 2022 was approximately 27 million units, up nearly 3% in terms of sales from 2021. Therefore, the China nylon monofilament market is expected to be driven by an increase in the volume of vehicles produced. The factors mentioned above are expected to drive Asia Pacific nylon monofilament market over the forecast period.

North America market is expected to register the fastest revenue growth rate over the forecast period. Rapidly growing automotive industry in this region is expected to lead to high demand for the product and drive the North America nylon monofilament market. Sales of electric cars have increased significantly in the US in the past few years, so it is expected that this development is going to continue during the projected period.

According to the US Department of Energy, electric car sales are expected to increase approximately 85% in 2021 over 2020. There has been an increase in the market for both passenger as well as commercial cars, over the past ten years. The imposition of a single-use plastics ban in the United States is going to greatly increase regional demand for nylon films. Canadian end users are driving the growth of this material's market by collaborating with bio-based nylon producers and incorporating environmentally friendly products into their business processes. For instance, the Canadian sportswear company Lululemon debuted its first line of shirts made of a plant-based nylon in April 2023 in association with the biotechnology company Geno.

Scope of Research

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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 monofilament s 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

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.
• In January 2023, Toyobo declared that it has created a new type of nylon monofilament that is resistant to ultraviolet radiation.

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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)
  • Homopolymer
  • 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

1. 1. 1. Others
   • Reinforced

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

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

• • Online
  • Offline

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

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