Fishing Net Fiber Market

Fishing Net Fiber Market Outlook (2024 to 2034)

Worldwide revenue from the sales of fishing net fiber is set to be worth US$ 4.05 billion in 2024 and has been projected to increase at a CAGR of 3.1% to reach US$ 5.5 billion by 2034-end.

Demand for fishing net fibers is increasing as seafood lovers demand a variety of fish such as tuna and shark. Fishing net fibers are usually meshes formed by knotting a relatively thin thread, these nets help the fishers to hunt a large number of fish in a very short amount of time. A variety of materials are used in these fishing nets according to the water and the size of fishes. Earlier nets were woven from grasses, flaxes, and other fibrous plant materials. After that modern fishers switched to artificial polyamides like nylon, although nets of organic polyamides such as wool or silk thread are used.

• According to Worlddata.info, South Korea has a coastline of 2,413 km, making it a key country in this market. The market in South Korea is projected to expand at a CAGR of 5.3% from 2024 to 2034.

Manufacturers of fishing nets are getting in the shoes of fishers to understand what other materials could be used to increase the efficiency of hunting. This has led to a steady increase in sales of fishing net fibers.

Key Market Growth Drivers

• Seafood consumption is increasing constantly, with more people relishing various cuisines featuring anchovies, bluefish, and catfish. This uptrend has boosted fishers' businesses, thus positively influencing the fishing net fiber market.
• Seafood, often prescribed by doctors for ailments such as hypertension and cardiovascular diseases, has witnessed growing demand among health-conscious individuals. This heightened necessity for fish and seafood has resulted in substantial profits for fishing net manufacturers.
• Market growth is fueled by the increasing prominence of aquaculture, known for its high nutrient value, including protein, omega fatty acids, and minerals. As aquaculture gains traction, the demand for fishing net fibers is on the rise. This is contributing to the expansion of the fishing net fiber market size.
• Manufacturers have introduced a variety of materials over time, making it easier for fishers to catch and size fish, including sharks. This is driving sales of fishing nets.
• Certain fish species like anchovies, sardines, and menhaden are utilized to produce fish emulsion or fish meal, natural fertilizers rich in nutrients commonly employed in organic gardening and agriculture. This expands market opportunities for fishing net suppliers.

Report Attributes	Details
Fishing Net Fiber Market Size (2024E)	US$ 4.05 Billion
Forecasted Market Value (2034F)	US$ 5.5 Billion
Global Market Growth Rate (2024 to 2034)	3.1% CAGR
Canada Market Growth Rate (2024 to 2034)	3.6% CAGR
China Market Value (2034F)	US$ 1.21 Billion
North America Market Share (2024E)	28.6%
East Asia Market Share (2034F)	38.4%
Key Companies Profiled	King Chou Marine Tech Diopas SA Netting India Nitto Seimo Magnum Polymers Pvt. Ltd. Miller Net Company Memphis Net and Twine Brunsonnet and Supply Inc. Siang May

Which Fishing Net Fiber Market Trends are Increasing Profits of Suppliers?

“Adoption of Advanced Fishing Equipment for Improved Efficiency”

Widespread adoption of significantly enhanced equipment by fisheries is driving the expansion of the market. Fisheries have recently embraced modern technology to conduct their fishing operations. Technological advancements such as optimized hull designs, enhanced engine performance through turbocharging, hydraulic hauling machinery, improved navigation equipment, and fish-finding electronics have all had a significant impact on both the efficiency and profitability of fishing net fiber manufacturers.

This factor has positively impacted sales, leading manufacturers to invest money and hire expert engineers to make fishing nets more effective and efficient. This makes it easier for fishers to catch more fish in a shorter time and generate higher profits.

“Increased Demand for Machine-made Nettings”

Fishing net fiber innovation has advanced significantly since the introduction of contemporary fishing net fibers. Previously, netting was manually made, which is a tedious and time-consuming process. In recent years, machine-made nettings have become the norm for fabricating fishing nets, positively influencing the fishing net fiber market.

Polyamide (PA), polyester (PES), polyethylene (PE), and polypropylene (PP) are among the materials commonly used in net production. Recently, innovative materials with higher tensile strength, such as the Dyneema brand of ultra-high molecular weight polyethylene (UHMWPE), which is 15 times stronger than steel, have entered the market.

“Introduction of Outboard Engines Changing Game of Fishing Net Fiber Market”

Development and widespread use of outboard motors have transformed small-scale fishing operations in developing nations. Fishing operations utilize various instruments, including navigational tools for guiding vessels at sea and in harbors, fish detection instruments like sonar, and electronic aids, for operation. Additionally, radio communications are crucial for safety and general communication.

What Challenges are Making It Difficult for Suppliers to Reach Their Full Potential?

“Environmental Concerns Associated with Overfishing Resulting in Imposition of Sanctions”

The number of overfished stocks has quadrupled in just half a century, with approximately one-third of the world's assessed fisheries now operating beyond their ecological limits.

• According to World Wildlife Fund, fishing is one of the leading causes of reductions in maritime animal populations. Catching fish is not intrinsically harmful to the ocean unless vessels capture more fish than stocks can replenish, which is known as overfishing.
• According to the Food and Agriculture Organization of the United Nations, overfishing is inextricably linked to bycatch-the capturing of undesirable marine life while fishing for another species. This is also a severe marine concern, resulting in the unnecessary deaths of billions of fish, as well as hundreds of thousands of sea turtles and cetaceans.

Overfishing causes harm to more than just the ocean. Billions of people rely on fish for protein, and fishing provides a primary source of income for millions of people worldwide. All these factors have damaged the market profits and the government is imposing sanctions on fishers if they break any law, making it very hard for sales to go up, keeping the market conditions stagnant.

Country-wise Evaluation

A few countries with extensive coastlines include the United States and Canada, as well as Japan and South Korea. Japan is forecasted to occupy 28.8% of the fishing net fiber market share in the East Asian region by 2034.

What is Improving Business Conditions for Fishing Net Fiber Suppliers in the United States?

“Increasing Awareness about Benefits of Fish and Krill Oil Consumption”

Attribute	United States
Market Value (2024E)	US$ 830.9 Million
Growth Rate (2024 to 2034)	3.5% CAGR
Projected Value (2034F)	US$ 1.18 Billion

The United States market is poised for growth as it has a robust fishing industry. Increasing awareness of the benefits of krill and fish oil, coupled with rising demand for fish in the region, is projected to contribute to the growth of the fisheries sector and drive demand for fishing nets.

Accessibility of products, thanks to major companies like Miller Net Company Inc. and Memphis Net Twine, is projected to further stimulate fishing net fiber market growth in the United States. Moreover, robust institutional support for aquaculture, along with official commitments to industry expansion, is projected to augment fishing net sales in the nation.

Why is China an Attractive Market for Fishing Net Fiber Manufacturers?

“Presence of Hybrid Marine Life Attracting Fishing Net Fiber Suppliers”

Attribute	China
Market Value (2024E)	US$ 841.6 Million
Growth Rate (2024 to 2034)	3.7% CAGR
Projected Value (2034F)	US$ 1.21 Billion

China is projected to be a key destination the global fishing net fiber market. The country's growing popularity in fishing is attributed to its abundant fish and marine species. Government policies and subsidies supporting the expansion of the fisheries sector are expected to further boost the industry, ultimately driving fishing net sales in the region.

Category-wise Insights

Different materials are used by fishers around the world including polyamide, polyester, and HDPE. Among these, polyester materials are estimated to hold a significant market share of 31.5% in 2024.

Which Material is Widely Favored by Fishers?

“High Preference for Polyamide Fishing Nets Due to Their Strength and Durability”

Attribute	Polyamide
Segment Value (2024E)	US$ 1.51 Billion
Growth Rate (2024 to 2034)	3.5% CAGR
Projected Value (2034F)	US$ 2.13 Billion

Polyamides are known for their strength and durability. Their flexibility and adaptability have made them popular among fishers, enabling them to hunt for fish without damaging the nets. In addition, their affordability allows even small fishers to purchase them, contributing to the rising sales of polyamide nets worldwide.

Competitive Landscape

The global market is fairly fragmented, owing to the existence of various local manufacturers. Furthermore, fluctuations in raw material pricing for fishing net fibers have been noted in both developing and developed countries. Increasing controls on overfishing and anti-dumping levies limit the market for fishing net fibers.

A few of the key players in the fishing net fiber market are BASF SE, Advan Six Inc., Toray Industries, Inc., Royal DSM N.V., Indorama Ventures, Amco Polymers, Formosa Chemicals, and Fiber Corporation, adapting themselves to the evolving market trends such as innovative fishing hooks and fishing rods.

Key Segments of Fishing Net Fiber Market Research

• By Type :

  • Gill Nets
  • Cast Nets
  • Hoop Nets

• By Material :

  • Polyamide
  • Polyester
  • Other (HDPE, Specialty, etc.)

• By Distribution Channel :

  • Offline
  • Online

• By End User :

  • Commercial
  • Household

•  By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa