The global monofilament market is projected to reach $1.9 billion by 2028, at a CAGR of 5.2% during 2023-2028. The growth of monofilament market is driven by increasing production of fish and other seafood, growing expenditure on animal food for protein across the globe, and escalating demand of monofilament in apparel and textile industries.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the 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 What are the
business risks and threats to the monofilament market?
Q.4 What are some
changing demands of customers in the monofilament market?
Q.5 What are the new
developments in the monofilament market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this monofilament area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this monofilament market?
Market Segmentation:
Based on product type,
the monofilament market is segmented into nylon, polyester, and polyolefin. The
nylon segment accounted for the largest share of the market in 2023 and is
expected to register the highest CAGR during the forecast period, as it ensures
excellent tensile strength and elasticity.
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.
Key Players in the
monofilament market are NYCOA, TORAY INDUSTRIES, Polymer Industries, Albany
International, and Zeus Industrial.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It 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.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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