Global Synthetic Rope Market Size
Synthetic rope is a rope which is manufactured by braiding together various types of synthetic fibers. Synthetic fibers are made by using artificial materials including nylon, polyester, polyethylene, and polypropylene. They can be used indoor as well as outdoor in all weather conditions. Synthetic ropes are durable, lighter, and stronger than natural ropes. The most important features of synthetic rope are the safety benefits they offer. Synthetic rope may be waterproof and can float and stretch unimaginably. Synthetic ropes are manufactured in different designs on the basis of their application such as construction, mining, fishing, and as mooring ropes for ocean liners.
Market Highlights
Global Synthetic Rope market is expected to project a notable CAGR of 6.67% in 2030.
to surpass USD 3.00 billion by 2030 from USD 1.57 billion in 2020 at a CAGR of 6.67% in the coming years, i.e., 2021-30. Global Synthetic Rope market is estimated to boost owing to its application in various end-use industries including mining and marine, owing to properties such as high durability, robust spooling capabilities, and high strength-to-weight ratio. Additionally, increasing awareness of the lightweight of synthetic ropes, rising demand for oil & gas increased prevalence of the construction industry, and the manufacturing of high-performance rope for mobile rope lifts, are projected to propel the market for synthetic rope during the forecast period.
Recent Highlights in Global Synthetic Rope Market
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In January 2019, Samson Rope Technologies, a global market leader in synthetic ropes headquartered in Washington, U.S., introduced its synthetic ropes product line. This product line includes three double braid running rigging lines manufactured for marine applications- XLS3, MLX3, and the elite racer GPX.
Global Synthetic Rope Market: Segments
Polypropylene segment to grow with the highest CAGR during 2021-30
Global Synthetic Rope market is segmented by Material Type into polypropylene, polyester, nylon, polyethylene, and specialty fiber. Polypropylene-based segment held the largest market share in the year 2020. Polypropylene ropes are used in the marine and fishing industry, in combination with polyester. It is a hard polymer commonly resistant to solvents and glues, which is woven from three strands of yarn for optimum strength and durability. Furthermore, the rope possesses floating properties, and because it is easily retrieved from the surface of the water, it is an obvious option to be used around the water.
Marine & Fishing Segment to grow with the highest CAGR during 2021-30
Global Synthetic Rope market is distributed by End User into marine & fishing, oil & gas, construction, cranes, sports & leisure and others. Marine & Fishing Segment held the largest market share in the year 2020. Synthetic ropes are the significant part of the fishing industry as they offer outstanding corrosion and abrasion resistance, high breaking strength, better grip, and light-weighting in the wide array of marine & fishing applications, such as hoisting lines, mooring lines, and towing lines. Synthetic ropes are used in fishing nets, twines, and ropes.
Market Dynamics
Drivers
Growing demand from various end-user industries
Synthetic ropes provide various beneficial properties including high tensile strength, durability, lightweight, safety, and high performance owing to which its demand is fueling in numerous end-user industries. These ropes offer high performance even in underwater due to their high strength. This in turn triggers its demand for offshore marine activities which is expected to proliferate the global synthetic rope market. Additionally, they are used in the fishing industry in fishing nets, twins, and ropes which further boost the demand for synthetic rope.
Increased Prevalence of the Construction Industry
Synthetic ropes are witnessing a wide range of applications in construction industry because of their corrosion-resistant properties and ability to stand against natural elements such as rain, UV rays, and high freezing temperature. With the surge in construction activities, the demand for synthetic ropes is propelling globally. In addition, mounting usage of nylon ropes in construction activities is projected to grow the market.
Restrain
Volatile Prices of Raw Material
Synthetic ropes are manufactured using raw materials such as polyethylene, polypropylene, polyester, nylon, UHMWPE, aramids, and specialty fibers. Fluctuations in the cost of these raw materials and lack of awareness regarding synthetic rope are expected to hamper the market growth in the coming years.
Global Synthetic Rope Market: Key Players
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Samson Rope Technologies Inc
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
- Teufelberger Holding AG,
- Unirope Ltd.,
- WireCo World Group Inc.,
- Touwfabriek Langman BV,
- Dong Yang Rope Mfg. Co., Ltd.,
- Cortland Limited,
- Yale Cordage Inc.,
- Bexco NV-SA
- Bridon International Limited,
- Marlow Ropes
- Other Prominent Players
Global Synthetic Rope Market: Regions
Global Synthetic Rope market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Synthetic Rope market in North America held the largest market share of XX.X% in the year 2020. North America will continue to dominate the Global Synthetic Rope market due to the significant growth of end-user industries in this region such as the shipping and fishing industry and construction industry. The rising aquaculture production, fishing activities, and offshore activities are expected to trigger the market in the coming years.
Global Synthetic Rope market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Synthetic Rope market report also contains analysis on:
Synthetic Rope market Segments:
- By Material Type
- Polypropylene
- Polyester
- Nylon
- Polyethylene
- Specialty Fiber
- By Application
- Marine & Fishing
- Oil & Gas
- Construction
- Cranes
- Sports & Leisure
- Others
- Global Synthetic Rope market Dynamics
- Global Synthetic Rope market size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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