Synthetic Rope Market Overview:
The global Synthetic Rope Market is expected to experience rapid growth over the forecast period due to rise in consumption of synthetic fibers in oil & gas, construction, and marine & fishing industries. As per the Food and Agriculture Organization of the United Nations, the global fish production was around 171 million tons in 2016. Out of this, 88% fish were consumed by humans. Synthetic ropes are a crucial part of the fishing industry and are utilized in fishing nets, twines, and ropes. In addition, they are used in trawling applications due to their benefits such as better abrasion resistance, high breaking strength, and high strength-to-weight ratio.
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The demand for synthetic rope is expected to increase due to surge in the number of applications. However, high cost of raw materials is expected to hamper the growth of the global market. Nevertheless, the impact of the driving factors is expected to overshadow the effect of restraints. However, advancements in the properties of raw materials used for manufacturing synthetic rope are expected to provide lucrative growth opportunities for the global synthetic rope market.
The global synthetic rope market is segmented based on raw material, end use, and region. Based on raw material, the market is segmented into polypropylene, polyester, nylon, polyethylene, and specialty fibers. Based on end use, it is divided into marine & fishing, oil & gas, sports & leisure, construction, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies operating in the global synthetic rope market include WireCo WorldGroup, Actuant Corporation, Bridon-Bekaert Ropes Group, and Southern Ropes (SR). The other prominent players in the market include English Braids Ltd., Teufelberger, Atlantic Braids Ltd., Bexco nv-sa (Bexco), Responsive Industries Ltd., and Touwfabriek Langman B.V. Product development and business expansion were the major strategies adopted by the key players to meet the growth in demand for synthetic ropes in the developing economies. In 2015, a turbine manufacturer devised a blade replacement system using high performance synthetic ropes manufactured by Samson Rope Technologies.
Key Benefits for Synthetic Rope Market:
- Porter’s five forces analysis helps to analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
- This report outlines the current trends and future scenario of the global synthetic ropes market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- Major countries in each region are mapped according to their individual revenue contribution to the global/regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of the key players along with their key strategic developments are enlisted in the report.
Synthetic Rope Key Market Segments:
- Specialty Fibers
- Marine & Fishing
- Oil & Gas
- Sports & Leisure
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
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