Global synthetic rope will increase moderate over the next five years. According to the WK-chem Research, "Global Synthetic Rope Professional Survey Report 2022, Forecast to 2027", key factors that are driving the market growth include increased usage in different industries owing to its improved ability to handle heavy materials and these products exhibit properties such as durability and lightweight as compared to conventional ones, which is expected to widen the product scope into different industries. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.21% base on WK-chem Research regression analysis model.
"Global synthetic rope market is witnessing considerable growth over the past few years and is expected to grow significantly during the forecast period, due to superior properties associated with synthetic rope that led to their improved capability to handle larger weight. Additionally, marine & fishing segment is the traditional consumer of synthetic rope, however, surge in construction activities across the developing economies drives the growth of the global market. Apart from this, growth in awareness regarding sports and rise in gymnasium population are expected to fuel the growth of the global market", said Theresa Patel, Senior analyst, in WK-chem Research.
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. 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. 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. However, fluctuation in the cost of the raw material and dearth of awareness about synthetic rope is expected to hamper market growth.
: Manufacturers of synthetic rope are adopting various organic and inorganic growth strategies to expand their product portfolio and geographical reach. This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading synthetic rope companies that 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.
: According to the type, the market for synthetic rope is divided into: Polypropylene, Polyester, Nylon, Polyethylene, Aramid, Acrylics and Others. Polypropylene has the largest market share. 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. According to the application, the market for synthetic rope is divided into: Marine & Fishing, Mining, Oil & Gas, Sports, Building & Construction, Others. Marine & Fishing has the largest market share. 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. Synthetic Rope
Regional Market Analysis
In terms of geography, the global synthetic rope market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. From a regional perspective, the Synthetic Rope market in North America is projected to witness relatively significant growth and is likely to maintain its dominance in the global Synthetic Rope market over the forecast period. This is mainly attributed to significant growth of end use industries, such as shipping and fishing industry, in the country. South East Asia and Pacific Synthetic Rope market, on the other hand, is estimated to expand at a healthy CAGR, in terms of value and volume, over the forecast period.
Region with the largest share: North America
Largest country in largest share region: the United States
Product Type: Polypropylene, Polyester, Nylon, Polyethylene, Aramid, Acrylics and Others.
Application: Marine & Fishing, Mining, Oil & Gas, Sports, Building & Construction, Others.
Leading Company: WireCo WorldGroup, Actuant Corporation, Bridon-Bekaert Ropes Group, Southern Ropes (SR), English Braids Ltd.