Industry Background:
Monofilament, a single filament of synthetic fiber, used mostly in the nylon fishing line. Monofilament can be made using nylon, polyester, and polyolefins. It can also be used in braiding applications where weaved products are produced to provide non-stick, high-temperature surfaces. Monofilaments are having properties such as flexibility, good shock strength, and cost-effectiveness. Escalating the medical industry as a result of increased spending on healthcare coupled with a rising geriatric population and high per capita income in both developed and developing economies is likely to drive the demand. North America is the major region in the market as a result of the increasing consumption of seafood, especially in the United States.This growth is primarily driven by Growing Fishing Industry and Increased Spending On Animal Food for Protein, Expanding Apparel & Textile Industry Due To Rising Disposable Income of the Consumers and High-Use Temperature, Chemical, and UV Radiation Resistant.
Globally, a noticeable market trend is evident Nylon 66 Monofilaments. Major Vendors, such as Jadex Inc. (United States), Engineered Monofilaments Corporation (United States), Albany International Corp (United States), Medical Monofilament Manufacturing (United States), NYCOA (United States), Polymer Industries (United States), Sigma Aldrich (United States), Zeus Industrial Products, Inc. (United States), Fluorotherm (United States) and Komar Alliance, LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On September 15, 2016, Zeus has introduced a new MRI-compatible LCP monofilament for vascular interventions. This technology overcomes a significant limitation of other vascular visualization procedures and removes radiation exposure as a consequence.
Market Drivers
- Growing Fishing Industry and Increased Spending On Animal Food for Protein
- Expanding Apparel & Textile Industry Due To Rising Disposable Income of the Consumers
- High-Use Temperature, Chemical, and UV Radiation Resistant
Market Trend
Restraints
- Fluctuation in Raw Material Prices
Opportunities
Expansion to Other Materials Such As FEP, PFA, ETFE and PEEK and Surging Demand for Lightweight Automobiles and Aerospace Applications
Challenges
Not Overly Sensitive owing to Stretchiness and Prolonged exposure to UV Light Can Weaken Monofilament
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