Synthetic Rope Market Trends

A spike in demand for fish-products, increased seaborne trade, and a growing cargo size propel the global synthetic rope market forward.

WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ -- As per Allied Market Research's report, the global synthetic rope market brought in $1.33 billion in 2017 and is expected to hit $2.18 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 6.3% from 2018 to 2025. The research dives into shifting market dynamics, crucial segments, leading market players, and competitive landscapes.

A spike in demand for fish-products, increased seaborne trade, and a growing cargo size propel the global synthetic rope market forward. Yet, fluctuating raw material prices hinder market growth. On the flip side, rapid advancements in synthetic rope manufacturing could open new doors in the future.

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In terms of raw material, the specialty fibers segment grabbed about one-third of the total market share in 2017 and is anticipated to hold onto its top spot during the forecast period. This is credited to its properties, including electrical resistivity, thermal conductivity, and chemical or fuel resistance. However, the polyester segment is projected to grow at the fastest CAGR of 7.3% from 2017 to 2025, thanks to its attributes of resilience akin to nylon ropes and superior resistance to ultraviolet rays and heat. The research also touches upon nylon, polypropylene, and polyethylene.

Europe is expected to experience the swiftest CAGR of 7.1% from 2017 to 2025, on the back of increased synthetic rope usage in several countries, including Germany, France, Italy, the U.K., and Russia. Nevertheless, North America boasted the largest market share in 2017, chipping in over one-third of the total market share, owing to an uptick in oil & gas production and ramped-up exploration activities. The research also scrutinizes the regions of Asia-Pacific and Latin America, Middle East, and Africa (LAMEA).

The research pinpoints key market players like Actuant Corporation, Atlantic Braids Ltd, Bridon-Bekaert Ropes Group, Bexco NV-SA, English Braids Ltd, Responsive Industries Ltd, Southern Ropes, Teufelberger, Touwfabriek Langman B.V., and Wireco WorldGroup. These players have deployed a range of strategies, including partnerships, expansions, new product launches, collaborations, mergers & acquisitions, and more, to carve out a niche in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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