Nylon Monofilament Market Size, Share & Trends Analysis Report By Type (Nylon 6, Nylon 66, Others), By Application (Fishing Net, Medical, Automotive, Consumer Goods, Others) By Region, And Segment Forecasts, 2024 - 2030

Nylon Monofilament Market Size, Share & Trends Analysis Report By Type (Nylon 6, Nylon 66, Others), By Application (Fishing Net, Medical, Automotive, Consumer Goods, Others) By Region, And Segment Forecasts, 2024 - 2030

Nylon Monofilament Market Growth & Trends

The global nylon monofilament market size is expected to reach USD 1.88 billion in 2030 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. Growth of key end-use industries such as automotive, fishing, and consumer good in Asia Pacific and Latin America is expected to remain a key driving factor for the global nylon monofilament market. Growing nylon monofilament application development in the medical industry is also expected to have a positive impact on market growth over the forecast period. The threat of substitutes from other polymers such as PVDF and polypropylene is expected to remain a key challenge for market participants over the next six years.

Nylon 6 and nylon 66 commanded a major share in the global market. Together, they accounted for over 85% of total market volume in 2013. Nylon 6 is expected to witness the highest growth of 5.3% from 2014 to 2020. Global demand for nylon 66 based monofilaments is expected to exceed a market worth USD 850 million by 2020.

Nylon Monofilament Market Report Highlights

• Global nylon monofilament market demand was 337 kilo tons in 2013 and is expected to reach 476.4 kilo tons, growing at a CAGR of 5.2% from 2014 to 2020.
• Consumer goods were the largest application segment and accounted for 29.9% of total consumption in 2013. Increasing nylon monofilament demand for manufacturing sports equipment is expected to drive this segment. Medical is expected to witness the highest growth rate of 5.8% from 2014 to 2020. The development of novel applications in the medical industry is expected to spur growth for this segment over the forecast period.
• Asia Pacific emerged as the leading regional market and accounted for 64.1% of total market volume in 2013. Asia Pacific is expected to maintain its lead position in the global market over the forecast period. Growth of fishing and automotive industries in China, India, and Indonesia is expected to drive the regional market. Central & South America is expected to witness the highest growth of 5.4% from 2014 to 2020. Positive outlook on the regional automotive industry and growing healthcare expenditure particularly in Brazil and Argentina is expected to spur growth in the region.
• Major industry participants have been focusing to develop environmental friendly and superior nylon monofilaments. Key companies have also been developing proprietary products to cater to specific end-use markets. Some major companies operating in the global market include Hinafil India Ltd., Ashley Polymers Inc., Engineered Monofilaments Corporation, Superfil Products Ltd., Toray Monofilament Co. Ltd., Perlon Monofil GmbH, Wenzhou Ruichang Special Monofilament Factory, Luftkin Enterprise Co. and Ningbo Judin Special Monofilament Co. Ltd.

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