Global Synthetic Ropes Market Share Is Likely To Reach At A CAGR Value Of Around 5.6% By 2028

20-May-2022 | Facts and Factors

According to Facts and Factors, the global synthetic ropes market was valued at USD 841.19 million in 2021 and is predicted to increase at a CAGR of 5.6% to USD 1,124.02 million by 2028. The study examines the market in terms of revenue in each of the key regions, which are classified into countries.

Synthetic ropes are created from synthetic fibers, which are man-made textiles that are generated using chemicals and utilized as a substitute for natural fibers. Due to the availability of synthetic fibers, increasing demand for industrial rope has popularised the use of this product. These items are employed in the pulley system to provide mechanical advantage and properly distribute load weight. As a result, they're commonly employed in the construction industry to weigh loads and materials. In addition, it is utilized to deliver things to various job sites, such as scaffolding. Because of the commercial use of polyolefin fiber, the displacement of hard fiber ropes with synthetic has progressed rapidly in developed countries. With the adoption of synthetic ropes, the sector is undergoing a transformation.

Browse the full “Synthetic Ropes Market By Material Type (Polypropylene (PP), Polyester, Nylon, Polyethylene (PE), Specialty Fibers), By End-Use Industry (Marine & Fishing, Sports & Leisure, Oil & Gas, Construction, Cranes, Others), and By Region - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028"  report at https://www.fnfresearch.com/synthetic-ropes-market

Synthetic rope's superior qualities for industrial use have resulted in significant market expansion. The growing popularity of synthetic rope can be linked to its increased use in various industries due to its better ability to handle large items. Furthermore, as compared to conventional products, these items have features such as durability and lightweight, which is projected to broaden the product's use in a variety of industries. However, changing raw material prices, such as polyethylene, polypropylene, and polyester, are projected to restrain the worldwide synthetic ropes market's growth over the forecast period. Synthetic rope prices are predicted to fluctuate due to varying raw material prices.

Segmental Overview

By Material type, the market is distinguished into Polypropylene (PP), Polyester, Nylon, Polyethylene (PE), and Specialty fibers. In terms of volume, Nylon and Specialty Fibers such as high-molecular polyethylene (HMPE) and aramid are predicted to grow at a fast pace between 2022 and 2028. Polypropylene (PP) ropes had the largest market share, owing to their widespread use in the marine and fishing industries, where they are occasionally combined with polyester. Specialty Fibers make up a small portion of the market due to their high pricing, but they are predicted to be in great demand due to their extraordinary high strength qualities.

During the projection period, the marine and fishing industry is expected to have the largest market share. In the nautical industry, synthetic ropes are commonly used for mooring, hoisting, towing, and other tasks. Furthermore, synthetic ropes have a great deal of potential to replace steel wire ropes in the nautical industry. During the projection period, the synthetic ropes used in cranes segment is expected to grow at the fastest rate.

Regional Overview

North America accounted for the highest share of the global synthetic rope market in 2021, and it is expected to continue to do so during the forecast period. Asia-Pacific is projected to witness the highest CAGR during the forecast period. Synthetic rope demand is predicted to rise across the region as the utility of waterproof and durable materials with lightweight and high strength features grows. The global market has been extended by the rapid growth of the construction sector as a result of rising urbanization in emerging nations such as China and India.

From 2022 to 2028, the European market is expected to grow at a considerable CAGR. Over the projected period, the rising marine and fishing sector in European countries is expected to raise demand for synthetic ropes. Furthermore, goods with high tensile strength and longer durability have succeeded in replacing steel wires in a variety of shapes and applications. As a result, synthetic ropes are used in the building, marine, and oil and gas industries.

Report Scope

Competitive Landscape

The report contains qualitative and quantitative research on the global synthetic ropes market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

List of Key Players in the Global Synthetic Ropes Market:

• Cortland Limited
• Wireco Worldgroup Inc.
• Samson Rope Technologies, Inc.
• Southern Ropes
• English Braids Ltd
• Marlow Ropes Ltd
• Teufelberger Holding AG
• Bridon International Ltd
• Yale Cordage Inc.
• Lanex A.S.

The global synthetic ropes market is segmented as follows;

By Material Type

• Polypropylene (PP)
• Polyester
• Nylon
• Polyethylene (PE)
• Specialty fibers

By End-Use Industry

• Marine & fishing
• Sports & leisure
• Oil & gas
• Construction
• Cranes
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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