Pune, India -- (SBWIRE) -- 10/25/2018 -- Regional Analysis

Asia Pacific was the largest market for monofilament in 2017 owing to increased fish production and other seafood coupled with the vast availability of economic resources. Expanding medical industry in India and China as a result of growing concept of medical tourism is driving product demand in this region.

North America is the prominent region in the global monofilament market as a result of increasing consumption of seafood especially in the U.S. Growing apparel and textile industry as a result of rising spending on the apparels coupled with high per capita income of the consumers is likely to boost the product demand.

Europe is likely to witness a significant growth during the review period with reviving automotive industry in this region. Additionally, France being the largest producer of wine is likely to exhibit a significant growth during the review period. This is attributed to the increasing monofilament's use in vineyards owing to resistance to UV rays, corrosion, pesticides, and fertilizers.

Latin American region is expected to exhibit a considerable growth on account of growing lifestyle procedures market such as surgical and non-surgical aesthetics & ophthalmology, especially in Brazil and Mexico. Furthermore, flourishing apparel and textile industry with changing trends and influence of western lifestyle are stimulating the demand.

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The Middle East and Africa are likely to witness a moderate growth during the review period with growing automotive and textile industry. Increasing production of passenger vehicles, especially by the PSA Groupe, is estimated to propel the market growth.

Segmentation

The global monofilament market is segmented by type, application, and region.

On the basis of the type, the market is segregated into nylon, polyester, and polyolefins. The nylon is further sub-segmented into nylon 6 and nylon 66. The polyolefins are further sub-segmented into high-density polyethylene (HDPE), polyethylene, and polypropylene.

On the basis of the application, the market is segregated into fishing & agriculture, textile, medical, automotive, wastewater treatment, and others.

Based on the region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players

Some of the key players in the global monofilament market are SUPERFIL (India), Hinafil India Limited (India), NYCOA (U.S.), Shinkey Monofilament Enterprise Co., LTD (Taiwan), ONGC Petro additions Limited (India), TORAY INDUSTRIES, INC. (Japan), Polymer Industries (U.S.), Jarden Applied Materials, Jarden Process Solutions (U.S.), Engineered Monofilaments Corporation (U.S.), Albany International Corp (U.S.), Medical Monofilament Manufacturing (U.S.), and Zeus Industrial Products, Inc. (U.S.).

Intended Audience

Monofilament manufacturers
Traders and distributors of monofilament
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory

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