Global Synthetic Rope Market Report Description:
Global Synthetic Rope market report gives comprehensive outlook on synthetic rope across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global synthetic rope market gives historical, current, and future market sizes (US$ Mn) on the basis of material type, end user and region. This report studies global synthetic rope market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global synthetic rope market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global synthetic rope market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global synthetic rope market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global synthetic rope products.
Global Synthetic Rope Market:
The global synthetic rope market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors responsible for the market growth include growth in awareness regarding sports, safety aspects of synthetic ropes, increasing demand for oil and gas extraction activities, increase in demand for crude oil and growing demand for construction industries. In addition, high demand from emerging economies provides huge growth opportunity for the market.
Increase in Demand from End User Industries Fuels the Market
High breaking strength, robust spooling capabilities, high strength to weight ratio, healthier grip & light weight and better abrasion resistance amongst others are some benefits for which synthetic ropes are being mostly used for trawling applications. It is extensively preferred in the various industries, such as mining, building & construction, oil & gas, marine & fishing and sports industry. It has been constantly attaining market approvals over the past few decades by replacing steel ropes. The world of high-performance synthetic rope is rapidly developing and becoming not only acceptable but preferred in more and more in various industries. Hence, rising demand for synthetic ropes from various end user industries increases the market growth.
Fluctuating Prices of Raw Material is hampering the market
Fluctuating prices of raw materials used for manufacturing synthetic ropes is the major factor restricting the market growth. Increasing crude oil prices have considerably inflated the price of synthetic fibers major raw materials for synthetic ropes. Accessibility of low cost competitor products, such as steel ropes, is likely to have an influence on customer preference limiting the growth of market.
Asia Pacific Accounts for Larger Market Revenue Share in Global Synthetic Rope Market
Asia Pacific accounted for larger revenue share in global synthetic rope market with considerable CAGR. The growth in this region can be attributed to unexplored offshore oil & gas fields in the region, growing construction industry and rising marine offshore mooring systems. Moreover, high aquaculture production or fishing activities in the region is other major factor boosting the market growth.
Key player’s profiles in the global Synthetic Rope market include:
- Bridon International Limited (U.K.)
- Cortland Limited (U.S.)
- English Braids Ltd (England)
- Honeywell International Inc. (U.S.)
- Marlow Ropes (U.K.)
- Royal DSM (Netherlands)
- Samson Rope Technologies (U.S.)
- Teijin Aramid (Netherlands)
- WireCo World Group (U.S.)
- Yale Cordage Inc. (U.S)
Global synthetic rope market is surging owing to frequent acquisitions and launchings by the market players. For instance, Samson, a provider of synthetic rope in numerous marine applications has expanded its footprint with a new facility in various areas. The expansion is expected to increase Samson’s market penetration in addition to uplifting its facility to increase production capabilities, therefore impacting growth of market in a significant way.
Key Findings of the Report:
- Global synthetic rope market expanding at significant CAGR over 2019 to 2025 owing to increasing demand for oil and gas extraction activities.
- Based on material type, Polypropylene (PP) segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global Synthetic Rope market
By Material Type
- Specialty Fibers
By End User
- Oil & Gas
- Marine & Fishing
- Building & Construction
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market