The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research provides crucial perceptions linking the global fishing net fibers market, and delivers widespread information of fishing net fibers through systematized market research. The report titled, ‘Fishing Net Fibers Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026’, analyzes the market, and forecasts the future market scenario of fishing net fibers on the basis of material and region. The global fishing net fibers market was valued at nearly US$ 4.0 Bn in terms of value at the end of 2018, and is anticipated to reach more than US$ 5.0 Bn by the end of the forecast period 2026, at a CAGR of around 3.0%.
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Advanced Product Offerings to Create an Optimistic Scenario for Market Growth
An extensive range of fishing gear and practices, ranging from small-scale to large-scale industrial systems, are used for the catching of fish. Over the years, traditional fishing gear has been improved and has become more efficient, which has resulted in the surging demand for fishing net fibers. Furthermore, manufacturers have positively responded to the needs of fishermen by developing specific fishing gear suitable for certain species of fish, which also fuels the demand for fishing net fibers. In addition, environmental and ground conditions also create a constructive impact on the market of fishing net fibers.
In the recent past, the manufacturing of fishing gear was aimed at increasing production by enhancing the efficiency of the fishing gear, coupled with the huge demand of fishing net fibers due to increasing demand from fishing industries. However, due to the current scenario of overfishing, increasing awareness about environmental issues, and the ecological impact of fishing, manufacturers are emphasizing on the development of responsible fishing gear systems with improved size-selective and species-selective properties, which also indirectly influence the market of fishing net fibers.
Rising Awareness for Responsible Fishing to Create Lucrative Opportunities for the Fishing Net Fibers Market
Unambiguous signs of overfishing and its negative impact on the environment are increasingly being revealed, which results in creating a negative impact on the growth of the fishing net fibers market. Furthermore, scientific management of the world’s fishery resources to ensure long-term sustainability in fishing will also positively affect the market of fishing net fibers, as most fishing nets are manufactured from synthetic fibers. Therefore, there is rising awareness about the adoption of responsible fishing. Responsible fishing is expected to ensure the long-term sustainability of resources, minimize negative environmental impact, and help protect biodiversity. It will also create a optimistic impact on the market of fishing net fibers market.
Continuous Expansion of Fishing Vessel Fleet Size Resulting in Market Growth
The total number fishing vessels was estimated at nearly about 5 million in 2016. The number of fishing vessels has witnessed growth in regions such as Asia Pacific and Latin America, owing to an increase in the number of fishing activities, which also creates a positive impact on the market of fishing net fibers. Continuous expansion of fleet size will indirectly positively influence the market of fishing net fibers market.
- Koninklijke DSM N.V.
- Formosa Plastics Corporation
- BASF SE
- Toray Industries,Inc.
- Indorama Ventures Public Company Limited
- AdvanSix Inc.
- Perlon-Monofil GmbH
- Ashley Polymers Inc.
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