The global fishing net fibers market is expected to be valued at over US$ 3.5 Bn in 2018, and is evaluated to grow at more than 3% CAGR over 2018–2026. On the basis of consumption, China and Southeast Asia & Pacific are expected to witness significant value and volume growth in the fishing net fibers market in the coming years. With significant increase in the consumption and demand for fish products, the fishing net fibers industry is expected to grow steadily over the forecast period.
In 2016, APAC constituted around ~60% of the global fish production, in which, China alone was responsible for around 20% of the global production. China, where income growth and urbanization have been major factors, dominates in terms of consumption of fish products, owing to the increase in the demand for fishing net fibers from fishing industries. Similarly, countries such as India and Indonesia are witnessing an increase in the number of fishing activities, which has boosted the consumption of fishing net fibers in these countries too.
The markets in developed countries are evaluated to experience moderate growth in the fishing net fibers market. The total consumption of fish has somewhat declined in developed countries. The rising demand for fish and aquaculture products such as cod liver oil & shark liver oil, in developing countries, is creating growth opportunities for the manufacturers of fishing nets. Hence, this increasing demand for fish products is estimated to positively influence the fishing net fibers market.
The adoption of technologically-advanced products by fisheries is resulting in the growth of the fishing net fibers market. Recently, fisheries have adopted advanced technologies to carry out fishing activities. Technological developments such as hull design optimization, and improvements in engine performance that include turbo charging, hydraulic hauling machinery, improved navigation equipment, and fish-finding electronics, have also had a major impact on the efficiency and profitability of fishing net fibers.
Introduction of Advanced Materials for the Development of Efficient Gear
Fishing net fiber technology has witnessed significant advancements following the introduction of modern fishing net fibers. Earlier, netting used to be fabricated manually, which is laborious and time-consuming. In recent years, machine-made nettings are almost exclusively used for the fabrication of fishing nets, which results in creating positive influence the market of fishing net fibers. Polyamide (PA), polyester (PES), polyethylene (PE), and polypropylene (PP) are among the fishing net fibers that are commonly used for the manufacturing of fishing nets. Recently, newer materials with better high tensile strength, such as the Dyneema brand of Ultra-High Molecular Weight Polyethylene (UHMWPE), which is 15 times stronger than steel, have been introduced in the market of fishing net fibers, which is surging the market of fishing net fibers, globally.
The introduction and widespread use of outboard engines has significantly changed small-scale fishing operations in developing countries. Some of the instruments used for fishing operations include navigational instruments that are used for navigating vessels at sea and at harbors; other instruments used for the detecting of fish, which include sonar and electronic aids for operation; and radio communications that are important for safety and for general communication. The adoption of advanced technologies is estimated to increase the number of fishing activities due to increased safety, which is expected to have a positive impact on the fishing net fibers market.
Competition Scenario in the Global Fishing Net Fibers Industry
The global fishing net fibers market is a moderately fragmented market, due to the presence of numerous local manufacturers. Moreover, fluctuation in raw material costs of fishing net fibers have been observed in developing and developed regions. Increasing regulations relating to overfishing and anti-dumping duties act as a restraining factor in the market of fishing net fibers.
Some of the main market participants operating in the global fishing net fibers market include BASF SE, Advan Six Inc., TORAY INDUSTRIES, INC., Royal DSM N.V., Indorama Ventures, Amco Polymers, Formosa Chemicals, and Fiber Corporation, among others. Numerous key players of fishing net fibers are maintaining strategic focus on the Asia Pacific market, due to surging industrial applications and technological developments in the region.
This fishing net fibers market study by PMR (Persistence Market Research) on the global fishing net fibers market delivers a forecast of the fishing net fibers market for the period 2018-2026. To evaluate the market value of fishing net fibers, we have taken FY2018 as the base year and market values have been estimated by keeping in mind the, driving factors, crucial developments by key market participants and trends. The compound annual growth rate (CAGR) for fishing net fibers market has been obtained for the period 2018 to 2026.
Raw materials utilized in the manufacturing and formulation of fishing net fibers are known as copolymer, a combination of different polymer and processes used by different manufacturers leads to various types of fishing net fibers for fishing purpose. Fishing net fibers include different types of ingredients, such as nylon 6, polypropylene, polyester, HDPE among others
This global fishing net fibers market report consists of more than 15 sections that define market numbers in terms of volume in tons (T) and value in US$ Mn at regional and global levels. The first section of the global fishing net fibers market report includes executive summary that specifies on the trends being observed in the market from demand side as well as supply side. The subsequent section covers the global fishing net fibers market introduction, including market definitions of the segments which are being considered, market taxonomy by material and regions, and other information relevant to the market.
In the following section of the global fishing net fibers market report, we have incorporated market viewpoints, including macroeconomic factors, value chain analysis and forecast factors along with the list of fishing net manufacturers, synthetic fiber manufacturer and end-users, supply-demand scenario of fishing l.
The next section of the global fishing net fibers market report consist of the global industry analysis by volume and value, along with the pricing analysis for North America, Middle East & Africa, Europe, South East Asia and Pacific, China, Japan and Latin America. The fifth section of the global fishing net fibers market report contains qualitative as well as quantitative analysis of the fishing net fibers market for every segment of the market.
This fishing net fibers market report emphases on scrutinizing the market opportunities and getting a comprehensive understanding of the fishing net fibers market. The fishing net fibers market report focuses on the regional analysis, market dynamics and market structure and competition landscape of the fishing net fibers market for the next ten years i.e. 2019-2029.
Each section of the fishing net fibers market report consists of quantitative and qualitative assessment of the market on the basis of developments, past data, facts and crucial views collected from various end-use industry participants through primary discussions, annual reports, newsletters, etc. The report on the global fishing net fibers market analysis studies some of the major players in the fishing net fiber market, such as BASF SE, Advan Six Inc., TORAY INDUSTRIES, INC., Royal DSM N.V., Indorama Ventures, Amco Polymers, Formosa Chemicals and Fiber Corporation among others.
The preliminary stage of research study incorporates company mapping relating to each type of fishing net fibers, which is essential for getting insights about the market scenario of fishing net fibers. In the subsequent stage of the research elaborate counter justification of data collected by using top-down and bottom-up methodologies. For the analysis of global fishing net fibers market, global market segmented into two key segments – by material and region
For the analysis of consumption, we have considered FY 2018 as the base year. Basic data was extracted from manufacturers’ newsletters, annual reports public reports published by government as well as private agencies, World Bank’s sources, Trade Map sources and by tracking preservatives production activities, etc. Further, the collected data was authorised through primary research techniques that involved different distributors, manufacturers, regional representatives and end-user procurement agencies. For final analysis of market data, we considered supply-side as well as demand side drivers and trends in various regional markets. We have forecasted the market data on the basis of regional trends and production key developments, – consumption scenario of fishing net fibers.