Global Synthetic Rope Market, By Material Type (Polypropylene, Polyester, Nylon, Polyethylene, Specialty Fibers), End- User Industry (Marine and Fishing, Oil and Gas, Sports and Leisure, Construction, Cranes, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Today synthetic ropes are being preferred over steel ropes owing to their distinguishing characteristics such as durability, corrosion resistance, high strength and light weight. These ropes have found numerous applications in various end-use industries, including oil and gas, marine and fishing, and construction, among others.
Global Synthetic Rope Market was valued at USD 1.70 billion in 2021 and is expected to reach USD 2.83 billion by 2029, registering a CAGR of 6.60% during the forecast period of 2022-2029. Polypropylene accounts for the largest material type segment in the respective market owing to their large application base in the marine and shipment industries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Synthetic ropes refer to the type of ropes that are generally made from synthetic fibers such as polyester, polyethylene, specialty fibers, polyester and nylon. These ropes are known for their light weight compared to other metal ropes, and are stronger than the natural fiber ropes. They have properties including resistance to abrasion, high tensile strength, and superior flexibility.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Material Type (Polypropylene, Polyester, Nylon, Polyethylene, Specialty Fibers), End- User Industry (Marine andFishing, Oil and Gas, Sports and Leisure, Construction, Cranes, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, and Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and Rest of Middle East and Africa (MEA).
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Market Players Covered
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Cortland Limited (UK), Samson Rope Technologies (US), WireCo (US), Southern Ropes (South Africa), MAGENTO, INC. (US), Marlow Ropes (UK), TEUFELBERGER (Sweden), Yale Cordage (US), Bridon-Bekaert (Belgium), LANEX a.s. (Japan), Katradis Marine Ropes Ind. S.A. (Greece), DSM (Netherlands), Tufropes Pvt LTD. (India), ATLANTIC BRAIDS LTD. (Canada), Bexco nv-sa (Belgium), Dongyang MFG.co., LTD. (India), and UNIROPE LTD. (Canada), among others
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Market Opportunities
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Synthetic Rope Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Demand for Fish Products
The increase in demand and consumption of fish products across the globe acts as one of the major factors driving the growth of synthetic rope market. The rise in awareness among individuals regarding the health benefits associated with consuming seafood such as ease in the symptoms of arthritis drives the market further.
- Growth in Aquaculture Sector
The increase in food security concerns along with rise in global population accelerate the market growth. Governing agencies of numerous regions are continuously adopting various strategies for improving the productivity and efficiency in the aquaculture sector has a positive impact on the market.
- Rise in Oil Production Sites
The surge in energy need and increase in number of offshore oil production sites enhancing the employment of synthetic ropes in the oil and gas industry further influence the market. Also, the use of mining materials in the construction industry assists in the expansion of the market.
Additionally, the surge in investments, expansion of manufacturing industries, usage in consumer goods packaging and rapid industrialization positively affect the synthetic rope market.
Opportunities
Furthermore, launch of advanced products with high performance and increased abrasion resistance for maximizing fleet efficiency extend profitable opportunities to the market players 2022 to 2029. Also, technological investment will further expand the market.
Restraints/Challenges faced by the Synthetic Rope Market
On the other hand, high cost associated with the raw materials and requirement of frequent preventive maintenance are expected to obstruct the market growth. Also, lack of awareness among potential end-industries are projected to challenge the synthetic rope market.
This synthetic rope market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the synthetic rope market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 had a minimal Impact on Synthetic Rope Market
COVID-19 had a negative impact on various industries including synthetic rope market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The synthetic rope industry faced huge problems due to the shortage of laborers declining the low production. A decline in the demand for industrial insulation was witnessed owing to the limited production and shut down of industries, such as oil and gas, and chemicals. However, the synthetic rope market is expected to witness growth in demand after the post-covid-19 situation.
Global Synthetic Rope Market Scope
The synthetic rope market is segmented on the basis of material type and end- user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material Type
- Polypropylene
- Polyester
- Nylon
- Polyethylene
- Specialty Fibers
End- User Industry
- Marine and Fishing
- Oil and Gas
- Sports and Leisure
- Construction
- Cranes
- Others
Synthetic Rope Market Regional Analysis/Insights
The synthetic rope market is analyzed and market size insights and trends are provided by country, material type and end- user industry as referenced above.
The countries covered in the synthetic rope market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the synthetic rope market because of the increased utility of waterproof and durable materials with lightweight and high strength properties within the region.
Asia-Pacific (APAC) is expected to witness a steady rate during the forecast period of 2022 to 2029 due to the rise in infrastructural needs in emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Synthetic Rope Market Share Analysis
The synthetic rope market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to synthetic rope market.
Some of the major players operating in the synthetic rope market are
- Cortland Limited (UK)
- Samson Rope Technologies (US)
- WireCo (US)
- Southern Ropes (South Africa)
- MAGENTO, INC. (US)
- Marlow Ropes (UK)
- TEUFELBERGER (Sweden)
- Yale Cordage (US)
- Bridon-Bekaert (Belgium)
- LANEX a.s. (Japan)
- Katradis Marine Ropes Ind. S.A. (Greece)
- DSM (Netherlands)
- Tufropes Pvt LTD. (India)
- ATLANTIC BRAIDS LTD. (Canada)
- Bexco nv-sa (Belgium)
- Dongyang MFG.co., LTD. (India)
- UNIROPE LTD. (Canada)
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