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Ropes are made from synthetic fibers or materials produced from metals such as steel. The raw materials used for synthetic ropes are petrochemicals-based synthetic fibers such as polyethylene, polypropylene, polyester, nylon, Ultra-high-molecular-weight polyethylene UHMWPE, aramids, and specialty fibers. Synthetic ropes are widely used in crane applications, owing to properties such as high strength, high durability, high strength-to-weight ratio, and robust spooling capabilities.

The global synthetic rope market was valued at US$ 1,349.6 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).

Drivers

Synthetic ropes are made from fibers that are man-made textiles which are manufactured with the infusion of chemicals and are used as a substitute to natural fibers. Increasing demand for industrial rope have popularized the application of this product owing to the availability of synthetic fibers. These products are used in the pulley system in order to create a mechanical advantage to effectively spread the weight of loads. Therefore, these ropes are widely used in the construction industry to weigh down loads and materials. In addition, it is used for the transportation of items to different sites of working, such as scaffolding.

According to Coherent Market Insights’ analysis, Asia Pacific is expected to gain significant traction over the forecast period. This can be attributed to increasing government initiatives in the region. For instance, according to the data released by India Brand Equity Foundation (IBEF) in September 2019, the Government of India allocated US$ 63.20 billion for the infrastructure sector in the 2019-20 Union Budget of India, and had taken initiatives in 2015 such as ‘Housing for All’ and ‘Smart City Mission’. This is expected to drive the growth of the construction industry in India and facilitate the demand for synthetic ropes over the forecast period in the region, and thereby expected to fuel growth of the global synthetic ropes market.

Figure 1. Global Synthetic Rope Market Value Share (%), By Region, 2021

Synthetic Rope  | Coherent Market Insights

Market Restraint

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 US$ 71/ bbl from US$ 54/bbl in 2017. However, in 2019, the price decreased to $64/bbl. Therefore, fluctuation in the cost of raw material and dearth of awareness about synthetic rope is expected to hamper the market growth.

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Synthetic Rope Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 1,349.6 Mn 
Historical Data for: 2017-2021 Forecast Period: 2022
Forecast Period 2022 to 2030 CAGR: 5.9% Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Material Type: Polyethylene, Polypropylene, Polyester, Nylon, UHMWPE, Aramids, Specialty Fiber
  • By End-use Industry: Oil & Gas, Transportation & Logistics, Mining, Construction, Marine, Defense, Others (Sports and Others)
Companies covered:

Lanex AS, Samson Rope Technologies Inc., Teufelberger Holding AG, Unirope Ltd., WireCo WorldGroup Inc., Touwfabriek Langman BV, Dong Yang Rope Mfg. Co., Ltd., Cortland Limited, Yale Cordage Inc., and Bexco NV-SA

Growth Drivers:
  • Rising demand for synthetic ropes for various applications such as crane applications is one of the major factors that is expected to propel the market growth over the forecast period.
  • Increasing demand for industrial rope have popularized the application of this product owing to the availability of synthetic fibers
Restraints & Challenges:
  • Fluctuating prices of raw materials such as polyethylene, polypropylene, and polyester

Market Trends

Players operating in North America are focused on growth strategies such as product launches, in order to strengthen their market presence. For instance, Samson Rope Technologies, a global market leader in synthetic ropes headquartered in Washington, U.S., launched its synthetic ropes product line in January 2019. This product line includes three double braid running rigging lines manufactured for marine applications, namely XLS3, MLX3, and the elite racer GPX. XLS3 is a polyester/polyester double braid rope, whereas MLX3 is made of blended-HMPE (high molecular weight polyethylene) with polyester core having a 24-strand polyester cover. GPX is a blend of polyester and technora, a UV-protected fiber, which provides heat resistance and superior grip.

Figure 2. Global Synthetic Rope Market Value Share (%), By Material Type, 2021

Synthetic Rope  | Coherent Market Insights

Among material type, the polyester segment accounted for the largest revenue share in the global synthetic rope market in 2021, owing to its benefits such as light weight nature, UV resistance, abrasion resistance, chemical resistance, water resistance, and others. The polyester segment is expected to hold a significant market share in the global synthetic ropes market over the forecast period, due to its properties and increasing applications such as in manufacturing halyard rope for boats.

Recent Developments

  • In October 2021, in India, Jogani Reinforcement Manufacturer of Concrete Fiber, Concrete Reinforcement Fibers & Construction Fibre introduced polyfiber 3S, a new generation concrete and construction fiber designed for long-lasting, crack-free infrastructure
  • In September 2021, for naval warships and support vessels, Permali Permali. Industrial Machinery Manufacturing. Delivering leading composite & TPU material solutions across Defence, Aerospace, Rail and Automotive markets designs and manufactures high-strength, glass fiber-reinforced (GRP) composite stanchions, guardrails, deck safety net frames, and ladder systems
  • On November 17, 2021,  Samson AG and Ocean Technologies Group (OTG), a global learning and operational technology company serving the maritime industry, had collaborated to provide seafarers with on-demand access to Samson’s comprehensive set of online courses in rope handling, inspection, fabrication, and installation. Through this collaboration, Samson AG rope will provide real-world 24 hours training to their personnel to keep informed and briefed on the latest best practices, which helps minimize accidents.

Competitive Section

Major players operating in the global synthetic rope market include Lanex AS, Samson Rope Technologies Inc., Teufelberger Holding AG, Unirope Ltd., WireCo WorldGroup Inc., Touwfabriek Langman BV, Dong Yang Rope Mfg. Co., Ltd., Cortland Limited, Yale Cordage Inc., and Bexco NV-SA

Synthetic fibers are man-made fibers, which include nylon, polyester, polypropylene, or high-performance fibers such as high modulus polyethylene (HMPE). They are used in the manufacturing of synthetic ropes to suit different applications in end-use industries such as oil & gas, mining, and construction, as well as in fishing. They are also used as mooring ropes in ocean liners. End users prefer synthetic ropes over wired ropes, owing to the benefits offered by synthetic ropes, such as superior flexibility, high strength, and lightweight.

Market Dynamics

Increasing demand for synthetic ropes from end-use industries such as oil & gas and marine across the globe is expected to fuel the growth of the global synthetic ropes market over the forecast period. This is also attributed to the properties they offer, such as high strength, heat & wear resistance, and better grip while handling. In the oil & gas industry, synthetic ropes are used in anchor lines, drilling lines, tubing lines, and marine riser tensioner lines. Increasing oil & gas exploration activities across the globe is expected to drive the growth of the synthetic ropes market over the forecast period. For instance, according to the International Energy Agency, in 2021, the global oil demand was pegged at 5.5 mb/d (million barrels per day), which increased to 3.3 mb/d by the end of 2017. Therefore, growing the demand from oil & gas industry is expected to facilitate the production of synthetic ropes and drive the global synthetic ropes market growth over the forecast period.

Moreover, Europe held a significant market share in the global synthetic ropes market in 2021, owing to the growth of transportation and logistics industry in the region. Increasing marine and fishing business across European countries is anticipated to result in increased demand for synthetic ropes over the forecast period. Moreover, products pertaining to high tensile strength as well as longer durability have managed to replace steel wires in many forms and applications. Therefore, synthetic ropes are a prime choice in the construction, marine, and oil and gas industries.

Key features of the study:

  • This report provides an in-depth analysis of global synthetic rope market, market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global synthetic rope market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Lanex AS, Samson Rope Technologies Inc., Teufelberger Holding AG, Unirope Ltd., WireCo WorldGroup Inc., Touwfabriek Langman BV, Dong Yang Rope Mfg. Co., Ltd., Cortland Limited, Yale Cordage Inc., and Bexco NV-SA
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global synthetic rope market report caters to various stakeholders in this industry, including investors, suppliers, synthetic rope manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global synthetic rope market

Detailed Segmentation:

  • Global Synthetic Rope Market, By Material Type:
    • Polyethylene
    • Polypropylene
    • Polyester
    • Nylon
    • UHMWPE
    • Aramids
    • Specialty Fiber
  • Global Synthetic Rope Market, By End-Use Industry:
    • Oil & Gas
    • Transportation & Logistics
    • Mining
    • Construction
    • Marine
    • Defense
    • Others (Sports and Others)
  • Global Synthetic Rope Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country/Region:
        • Middle East
        • Africa
  • Company Profiles
    • Lanex AS
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Samson Rope Technologies Inc.
    •  Teufelberger Holding AG
    •  Unirope Ltd.
    •  WireCo WorldGroup Inc.
    •  Touwfabriek Langman BV
    •  Dong Yang Rope Mfg. Co., Ltd.
    •  Cortland Limited
    •  Yale Cordage Inc.
    •  Bexco NV-SA

“*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global synthetic rope market was valued at around US$ 1,349.6 Million in 2021.
Rising demand for synthetic ropes for various applications such as crane applications is one of the major factors that is expected to propel the market growth over the forecast period.
Players operating in the synthetic rope market are focused on growth strategies such as product launches in order to strengthen their market presence, which is the key trend in the market.
Fluctuating prices of raw materials such as polyethylene, polypropylene, and polyester is one of the major factors that is expected to hamper the market growth over the forecast period.
Major players operating in the market include Lanex AS, Samson Rope Technologies Inc., Teufelberger Holding AG, Unirope Ltd., WireCo WorldGroup Inc., Touwfabriek Langman BV, Dong Yang Rope Mfg. Co., Ltd., Cortland Limited, Yale Cordage Inc., and Bexco NV-SA
The market is estimated to grow at around 5.9% CAGR during the forecast period (2022-2030).

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