Asia-Pacific Monofilament Fishing Line Occupied 34.05% Sales Market Share in 2017
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In the coming years there is an increasing demand for monofilament fishing line in the regions of North America and Europe that is expected to drive the market for more advanced monofilament fishing line. Increasing of fishing fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on personal entertainment, retrofitting and renovation of old technology, increasing adoption of monofilament fishing line in developing countries will drive growth in global markets.
Globally, the monofilament fishing line industry market is low concentrated as the manufacturing technology of monofilament fishing line is relatively matures than some high-tech equipment. And some enterprises, like PureFishing, Sunline, Sufix International and Toray etc. are well-known for the wonderful performance of their monofilament fishing line and related services. At the same time, Asia-Pacific, occupied 34.05% sales market share in 2017, is remarkable in the global monofilament fishing line industry because of their market share and technology status of monofilament fishing line.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the monofilament fishing line market to approach these areas. GIR analysis of the monofilament fishing line market indicated that Asia-Pacific would account for the highest sales in 2023, particularly in China, Japan and Korea. Other leading regions such as USA and Europe also have great potential. Vendors recognize the importance of these regions, and are working towards penetrating this market by strengthening their sales and distribution networks.
Although the market competition of monofilament fishing line is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of monofilament fishing line and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.