Explore the growth of the global nylon monofilament market, driven by automotive, medical, and agricultural advancements, along with key trends

VANCOUVER, BC, CANADA, June 4, 2024 /EINPresswire.com/ -- 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 set for significant growth, driven by the increasing production of automobiles, agricultural advancements, and the rising number of diabetic patients, according to recent market research.

Automotive Industry Fuels Demand

The automotive industry is a major consumer of nylon monofilament. This material is used in various engine components, including crankcases, roller bearings, and oil containers, due to its robustness, stiffness, and resistance to abrasion, chemicals, and temperature. Notably, the Asia Pacific market's rapid growth and the steady expansion of the European automotive industry are key drivers of this demand. An example of this trend is Hyosung TNC, a Korean company, which announced in September 2022 that it successfully developed technology to use nylon in hydrogen-powered automobile fuel containers.

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Medical Applications Boost Market

Nylon monofilament is also crucial in the medical field, particularly for screening diabetic patients for loss of protective feeling. With the global rise in diabetes cases, the demand for nylon monofilament in medical applications is increasing. The International Diabetes Federation estimates that the number of adults with diabetes could exceed 700 million by 2045, highlighting a significant market opportunity.

Challenges and Opportunities

The production of nylon monofilament is closely tied to the refinery industry, which processes crude oil to make naphtha, a key raw material. However, crude oil price volatility poses a significant challenge to market stability. Despite this, alternatives like linen, which are less expensive and more resistant to adverse environments, present competition.

Emerging Trends

A notable trend in the nylon monofilament market is the shift towards bio-based sources. Companies are increasingly focusing on producing bio-based nylon, responding to the growing demand for sustainable materials. For example, in April 2023, Canadian sportswear brand Lululemon, in collaboration with biotechnology company Geno, launched a collection of shirts made from plant-based nylon.

Market Segments Insights

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Type Segment: Co-Polymer Leads

The co-polymer segment, which involves at least two polymers, accounted for the largest market share in 2022. Co-polymers offer superior mechanical properties, chemical resistance, and stability compared to single polymers. Products like NYCOA Polyamide 2047 exemplify these benefits, driving demand in various applications, including barrier films and industrial monofilaments.

Application Segment: Fishing Nets Dominate

The fishing net segment led the market in 2022, driven by the material's durability and cost-effectiveness. Nylon monofilament is a staple in creating fishing nets, crucial for the expanding fishing industry. According to the Food and Agricultural Organization, global fisheries and aquaculture production is expected to rise, further boosting the demand for nylon monofilament in this sector.

Agriculture Segment Shows Promise

The agriculture segment is expected to experience rapid growth. Nylon monofilament is widely used in agricultural applications, including fishing lines. As the agriculture industry grows, so does the demand for this versatile material. For instance, the US Department of Agriculture reported that agricultural production contributed significantly to the country's GDP in 2020, highlighting the sector's importance.

Nylon Monofilament Top 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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Nylon Monofilament Latest Industry News

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.

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)

Homopolymer

Co-polymer

Nylon 6

Nylon 66

Nylon 6/6-6

Nylon 6/9

Nylon 6/10

Nylon 6/12

Nylon 11

Nylon 12

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

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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