Synthetic rope market
Synthetic Ropes Market, by Material Type (Polyethylene, Polypropylene, Polyester, Nylon, UHMWPE, Aramids, and Specialty Fibers), by End-Use industry (Oil & Gas, Transportation & Logistics, Mining, Construction, Marine, Defense, and Others (Sports and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
- Jul 2022
- CMI316
- 190 Pages
- Excel & Pdf
- Polymers and Resins
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
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 $64/bbl. Therefore, fluctuation in the cost of raw material and dearth of awareness about synthetic rope is expected to hamper the market growth.
Synthetic Rope Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 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: |
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Segments covered: |
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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 |
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Growth Drivers: |
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Restraints & Challenges: |
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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
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
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Material Type
- Market Snippet, By End-Use Industry
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER’s Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
- Market Dynamics
- Global Synthetic Ropes Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting Global Synthetic Ropes Market – COVID-19
- Impact Analysis
- Global Synthetic Ropes Market, By Material Type, 2017 -2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 2025, and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Polyethylene
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Polypropylene
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Polyester
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Nylon
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- UHMWPE
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Aramids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Specialty Fiber
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Introduction
- Global Synthetic Ropes Market, By End-Use Industry, 2017 -2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022, 2025, and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Oil & Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Transportation & Logistics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Mining
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Marine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Defense
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Others (Sports and Others)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million)
- Introduction
- Global Synthetic Ropes Market, By Region, 2017 -2030 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2022, 2025, and 2030 (%)
- Y-o-Y Growth Analysis, For Region, 2017 - 2030
- North America
- Market Share Analysis, By Country, 2022, 2025 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 – 2030
- Market Size and Forecast, By Material Type, 2017 - 2030 (US$ Million)
- Market Size and Forecast, By End-Use Industry, 2017 - 2030 (US$ Million)
- Countries
- U.S.
- Canada
- Latin America
- Market Share Analysis, By Country, 2022, 2025 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 – 2030
- Market Size and Forecast, By Material Type, 2017 - 2030 (US$ Million)
- Market Size and Forecast, By End-Use Industry, 2017 - 2030 (US$ Million)
- Countries
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2022, 2025 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 – 2030
- Market Size and Forecast, By Material Type, 2017 - 2030 (US$ Million)
- Market Size and Forecast, By End-Use Industry, 2017 - 2030 (US$ Million)
- Countries
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2022, 2025 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 – 2030
- Market Size and Forecast, By Material Type, 2017 - 2030 (US$ Million)
- Market Size and Forecast, By End-Use Industry, 2017 - 2030 (US$ Million)
- Countries
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Market Share Analysis, By Country, 2022, 2025 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 – 2030
- Market Size and Forecast, By Material Type, 2017 - 2030 (US$ Million)
- Market Size and Forecast, By End-Use Industry, 2017 - 2030 (US$ Million)
- Sub-Regions
- Middle East
- Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Lanex AS
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Samson Rope Technologies Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Teufelberger Holding AG
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Unirope Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- WireCo WorldGroup Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Touwfabriek Langman BV
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Dong Yang Rope Mfg. Co., Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Cortland Limited
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Yale Cordage Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Bexco NV-SA
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Lanex AS
- Section
- References
- Research Methodology
- About Us and Sales Contact
* Browse 50 market data tables* and 40 figures* on “Global Synthetic Ropes Market” - forecast to 2030.
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 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)
- By Country:
- U.S
- Canada
- By Material Type :
- Latin America
- 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)
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Material Type :
- Europe
- 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)
- By Country:
- Germany
- U.K
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Material Type :
- Asia Pacific
- 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)
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Material Type :
- Middle East & Africa
- 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)
- By Country/Region:
- Middle East
- Africa
- By Material Type :
- North America