4169 1620211193.4169 1598955570

Synthetic Rope Market size is forecast to reach $2.1 billion by 2025, after growing at a CAGR of 5.6% during 2020-2025. The demand is strongly influenced by the low weight and high strength characteristics of synthetic ropes. The safety aspect of synthetic ropes is another main factor that is expected to drive this market. Synthetic ropes are comparatively safer to use compared to steel wire ropes that are commonly used by the marine, mining, and Oil & gas industries. Better properties associated with synthetic rope for industrial use have contributed to a substantial rise in the market. Increased use in various industries due to its improved ability to handle heavy materials is attributed to the increasing popularity of synthetic ropes. In addition, these products have properties, like long-lasting and lightweight compared to traditional ones, which are expected to broaden the reach of the product to various industries.

Synthetic Rope Market Segment Analysis – By Raw Material

Polypropylene (PP) held the highest market share in the synthetic rope market in 2019, these ropes are commonly used in the marine and fishing industry, often in combination with polyester. This rope is a hard polymer, primarily resistant to solvents and glues, which is woven from three strands of yarn for optimum strength and durability. They have a wide base of application in the marine and shipping industries due to robust construction and strong raw materials. It is commonly used in vessels, pulleys and winches, as well as general fastening and securing. The rope also exhibits 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. As a result, polypropylene rope made from synthetic materials is expected to expand significantly due to its widespread use over the forecast period. Nylon is set to rise at a significant CAGR in the forecast period. The high stretch factor in nylon rope with a certain degree of elasticity appropriate for various applications has expanded the scope of the material in the industry. Owing to its high elasticity, this rope exhibits great shock absorption and various load applications. It also makes it a favorable item for mooring and towing operations and for various anchoring applications.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16282

Report Price: $ 4500 (Single User License)

Synthetic Rope Market Segment Analysis – By End Use Industry

The marine & fishing industry held the largest market share in the synthetic rope market in 2019, and is growing at a CAGR of 5.9%. Synthetic ropes are commonly used in the marine industry for mooring, lifting, towing and other applications. In addition, synthetic ropes have a wide scope to become a better alternative to steel wire ropes used in the marine industry due to their lightweight properties, reduced knock-up and downtime preparation, fast handling, floatability and the prevention of re-lubrication. These ropes help with high insulation ability, provide resistance in chemically affected environments, do not absorb, and are made available in various shapes and colors. In addition, these materials are used as fishing nets and twines in the fishing industry. These are used in trawling applications due to improved abrasion resistance, high breaking strength and high strength-to-weight ratio. According to UNCTAD, global maritime trade increased by 2.6 per cent in terms of volume in 2016 and is projected to rise by 3.2 per cent in the CAGR over the 2017-2022 period. As maritime trade increases and cargo size increases, demand for high-performance, lightweight, cost-effective and secure ropes is growing for mooring lines, tow lines and lifting operations. Thus, the substantial growth of the shipping industry and maritime trade will in turn help to fuel demand for synthetic ropes over the forecast period.

Synthetic Rope Market Segment Analysis – Geography

Asia Pacific held the largest share in the synthetic rope market in 2019 accounting for a share of 52%. The increasing use of waterproof and robust materials with lightweight and high strength properties is expected to fuel demand for synthetic ropes throughout the region. The rapid growth of the construction industry as a result of increasing urbanization in developing countries such as China and India have expanded the reach of the global market. In addition, growing infrastructure needs in emerging economies serve as a driving force for synthetic ropes. In 2019, China government invested 1.9 billion on 13 public housing projects. In addition, the United States is witnessing noticeable investment for residential construction, and the trend is expected to remain the same in the near future. For instance, according to U.S Census bureau, in January 2020 value of construction put in place in residential and nonresidential construction increased to $567,555 million and $470,986 million from $546,532 million and $466,436 million in December 2019. Mexico is also witnessing high housing demand, therefore attracting noticeable investment into construction. For instance, In January 2019, Inter-American Development Bank (IDB) granted local currency financing program to the Mexican company Procsa up to 150 million Mexican pesos ($7.8 million), in order to finance for land acquisition, development and commercialization of housing for low- and middle-income families in the country. In addition, construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing synthetic rope demand. As a result, the region is experiencing the highest application of synthetic ropes across different industries in particular the construction industry. In addition, products with high tensile strength and longer longevity have been able to replace steel wires in many ways and applications. Synthetic ropes are also a prime option in the manufacturing, marine and oil and gas industries.

Synthetic Rope Market Drivers

Excellent properties of synthetic ropes are driving its demand from various applications

The primary factor for driving the global synthetic rope market is its properties such as durability, high tensile strength, light weight, high performance and safety features. The growing number of construction industries, offshore marine activities and high demand for oil and gas in the various regions are expected to fuel the growth of the global market. The high strength of synthetic ropes to perform well even when underwater it triggers its demand for offshore marine activities which in turn boosts the global market. According to the Food and Agriculture Organization of the United Nations, global fish production amounted to about 171 Mn tons in 2016. Of these, approximately 88 per cent was used for direct or indirect human use, of which 47 per cent was used for aquaculture production and 53 per cent came from capture production. With this substantial increase in consumption and demand for fish products, the fishing industry is expected to expand steadily in the coming years. Synthetic fibers are an integral part of the fishing industry and are commonly used in fishing nets, twines and ropes. Synthetic ropes are used in trawling applications as they offer many advantages such as improved abrasion resistance, high breaking strength, high strength to weight ratio and stronger grip and light weight, among others. Due to these factors, demand for synthetic ropes is expected to increase at a rapid pace during the forecast period.

Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16282

Synthetic Rope Market Challenges

Volatile cost of raw materials

The raw materials used for synthetic ropes are petrochemicals based on synthetic fibers such as polyethylene, polypropylene, polyester, nylon, UHMWPE, aramids and specialty fibers. Synthetic ropes are used in various applications due to properties such as high strength, high endurance, high strength-to-weight ratio and robust spooling capabilities, among others. According to BP statistics, in 2018, the average crude oil price increased to $71/ bbl from $54/bbl in 2017. Whereas in 2019, the price decreased to $64/bbl. Therefore, fluctuation in the cost of the raw material and dearth of awareness about synthetic rope is expected to hamper market growth.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Synthetic Rope Market. In 2019, the market of Synthetic Rope Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Synthetic Rope market includes WireCo WorldGroup Inc., English Braids Limited, Samson Rope Technologies Inc., Teufelberger Holding AG, Lanex AS, Axiom Cordages Limited., Touwfabriek Langman BV, Yale Cordage Inc., Bexco NV-SA., Atlantic Braids Ltd., Unirope Ltd., Dong Yang Rope Mfg. Co., Ltd., Cortland Limited, among others.

Key Takeaways

Asia Pacific dominated the global market owning to increasing marine offshore anchoring activities in the region and growing construction industry.

Some other factors, such as increased maritime trade, increased awareness of the light weight of synthetic ropes, increased demand for oil & gas, increased prevalence of the construction industry and the production of high-performance rope for mobile rope lifts, are expected to increase the market for synthetic rope during the forecast period.

Synthetic ropes provide many benefits over other ropes, such as light weight, higher resistance to corrosion, chemical resistance, respectively. Synthetic rope is around one-seventh of a similar-sized wire rope. It is commonly preferred in many sectors, such as marine & fishing, mining, oil & gas, building & construction, sports and other industries. Over the last few decades, it has steadily gained market recognition by replacing steel ropes.

However, due to the COVID-19 pandemic, most of the countries have gone under lockdown, due to which operations of various industries including construction, marine and so on has been negatively affected, which is hampering the synthetic rope market growth.

Related Reports :

A. Para-aramid Fibers Market


B. Polypropylene & High-impact Polystyrene Market


For more Chemicals and Materials Market reports – Please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Tags: Synthetic Rope Market Industry Outlook, Synthetic Rope Market Top 10 Companies, Synthetic Rope Market Share, Synthetic Rope Market Size, Synthetic Rope Industry, Synthetic Rope Market Report, Synthetic Rope Market

See Campaign: https://www.industryarc.com/reports/request-quote?id=16282
Contact Information:
Venkat Reddy Sales Director Email: venkat@industryarc.com Website: https://www.industryarc.com Phone: (+1) 970-236-3677

Reportedtimes, Menafn, iCN Internal Distribution, Wire, Extended Distribution, Research Newswire, English


Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677