Synthetic Rope Market is projected to witness a CAGR of 5.9% from 2016 to reach a market size of USD 1.69 Billion by upcoming years. Global Synthetic Rope market is estimated to boost owing to its application in various end-use industries including mining and marine, owing to properties such as high durability, robust spooling capabilities, and high strength-to-weight ratio. The Synthetic Rope Market growth is mainly driven by the high strength and low weight characteristics along with safety features of synthetic ropes.
"Synthetic rope is a rope which is manufactured by braiding together various types of synthetic fibers. Synthetic fibers are made by using artificial materials including nylon, polyester, polyethylene, and polypropylene. They can be used indoor as well as outdoor in all weather conditions. Synthetic ropes are durable, lighter, and stronger than natural ropes. The most important features of synthetic rope are the safety benefits they offer. Synthetic rope may be waterproof and can float and stretch unimaginably. Synthetic ropes are manufactured in different designs on the basis of their application such as construction, mining, fishing, and as mooring ropes for ocean liners."
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- Market size & share analysis
- Top market players with sales, revenue, and business strategies analysis
- Market growth drivers and restraints
- Market opportunities & challenges
- Research methodology
Synthetic rope made of Polypropylene (PP) projected to dominate the market during the forecast period
PP is projected to remain the dominant material in the manufacturing of synthetic ropes during the forecast period. The market players use PP on a large scale, as it is highly cost-effective in nature. PP provides high strength to the ropes and also performs well when used under water.
Asia-Pacific projected to witness the highest CAGR between 2016 and 2021
The synthetic ropes market in Asia-Pacific possesses immense potential of growth during the forecast period. Rising marine offshore mooring systems, growing construction industry, and the unexplored offshore oil & gas fields in the region are expected to drive the market in this region. High aquaculture production or fishing activities in the region are also expected to trigger the market growth in the region between 2016 and 2021. China, Japan, and South Korea are some of the key countries in the region contributing to the market growth.
Some of the key participants in the market are WireCo WorldGroup (U.S.), Samson Rope Technologies (U.S.), Cortland Limited (U.S.), Marlow Ropes Ltd. (U.K.), and Bridon International Ltd (U.K.). New product developments and capacity expansions were the major growth strategies adopted by the market players between 2011 and 2016 to enhance their regional footprint and meet the growing demand for synthetic ropes in developing economies.
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- Growing demand from various end-user industries
- Increased Prevalence of the Construction Industry
- Volatile Prices of Raw Material
Global Synthetic Rope Market -Geographical Analysis
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA