Synthetic Rope Market Analysis | 2023-2028

Market Insights

The synthetic rope market was estimated at USD 760.6 billion in 2022 and is likely to grow at a CAGR of 6.17% during 2023-2028 to reach USD 1096.31 billion in 2028.

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Market Dynamics

Introduction

Synthetic rope is a type of rope made from artificial fibers such as nylon, polyester, polypropylene, or high-performance materials like Dyneema and Kevlar. These ropes are engineered to provide superior strength, durability, and resistance to environmental factors compared to natural fiber ropes. Synthetic ropes are lightweight, flexible, and highly resistant to moisture, chemicals, and UV radiation, making them ideal for a wide range of applications in industries such as marine, construction, automotive, and safety.

Market Drivers 

Synthetic rope offers many advantages over steel rope, such as higher corrosion resistance, fatigue resistance, weather and chemical resistance, and lightweight. It is widely preferred in many industries, such as marine & fishing, mining, oil & gas, building & construction, and sports industry. It has been continuously gaining market acceptance over the last few decades by replacing steel ropes. Synthetic rope is about one-seventh of the weight of similar-sized wire rope.

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key Players

The following are the key players in the synthetic rope market:

• Bridon International
• Cortland Limited
• Marlow Ropes
• Samson Ropes Technologies
• WireCo Worldgroup Inc.

New product development and regional expansion are the key strategies adopted by the key players to gain a competitive edge in the market.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By End-Use Industry Type

"Marine & Fishing segment is likely to remain the growth engine of the market during the forecast period"

The Marine & Fishing segment is likely to remain the growth engine of the synthetic rope market during the forecast period. Synthetic ropes provide excellent corrosion and abrasion resistance and lightweight in the wide array of marine & fishing applications, such as mooning lines, towing lines, and hoisting lines.

Regional Analysis

"North America is expected to remain the largest market during the forecast period"

North America is expected to remain the largest market for synthetic rope in the next five years. Excellent distribution network across the North America region, high marine & fishing activities, and high offshore oil & gas activities are the prime drivers of the North American synthetic rope market. 

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s synthetic rope market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The synthetic rope market is segmented into the following categories:

By Material Type 

• Polypropylene
• Polyester
• Nylon
• Polyethylene
• Specialty Fibers

By End Use Industry Type

• Marine & Fishing
• Mining
• Oil & Gas
• Sports
• Building & Construction
• Cranes
• Others

By Sales Channel Type

• Direct Sales
• Distributors

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.