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Synthetic Rope Market | Covid-19 Impact Analysis
Synthetic Rope Market is Segmented by Material Type (Polypropylene, Polyester, Nylon, Polyethylene, and Specialty Fibers), by End Use Industry (Marine & Fishing, Mining, Oil & Gas, Sports, Building & Construction, Cranes, and Others), by Sales Channel (Direct Sales and Distributors), by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Synthetic rope offers many advantages over steel rope, such as higher corrosion resistance, fatigue resistance, weather and chemical resistance, and light weighting. It is widely preferred in the 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.
The global synthetic rope market offers a healthy growth opportunity and is likely to experience >6% CAGR during the forecast period of 2020 to 2025.
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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 light weighting in the wide array of marine & fishing applications, such as mooning lines, towing lines, hoisting lines.
North America is expected to remain the largest market for synthetic rope in the next five years. Excellent distribution network across North America region, high marine & fishing activities, high offshore oil & gas activities are the prime drivers of the North American synthetic rope market.
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The key synthetic rope manufactures are-
New product development and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
Trend & Forecast Period
North America, Europe, Asia-Pacific, Rest of the World
>6% CAGR during 2020-2025
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The market is segmented in the following ways:
Synthetic Rope Market Size, Share & Forecast by Material Type:
Synthetic Rope Market Size, Share & Forecast by End-Use Industry Type:
Synthetic Rope Market Size, Share & Forecast by Sales Channel Type:
Synthetic Rope Market Size, Share & Forecast by Region:
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This report, from Stratview Research, studies the synthetic rope market over the period 2014 to 2025. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Marine & Fishing segment is likely to remain the growth engine of the synthetic rope market during the forecast period.
The synthetic rope market is expected to witness an impressive growth of >6% CAGR during the forecast period of 2020 to 2025.
WireCo Worldgroup Inc., Cortland Limited, Marlow Ropes, Samson Ropes Technologies, and Bridon International are among the key players in the synthetic rope market.
North America is expected to remain the largest market for synthetic rope during the forecast period of 2020-25.
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