The Market is Segmented by Type of Lay (Regular Lay and Lang Lay), by Material Type (Polypropylene, Polyester, Nylon, HMPE, and Specialty Fibers), by Application Type (Marine & Fishing, Sports & Leisure, Oil & Gas, Industrial & Crane, Mining, Construction, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The Market is Segmented by Type of Lay (Regular Lay and Lang Lay), by Material Type (Polypropylene, Polyester, Nylon, HMPE, and Specialty Fibers), by Application Type (Marine & Fishing, Sports & Leisure, Oil & Gas, Industrial & Crane, Mining, Construction, and Others), and by Region ...
Steel Wire Rope & Plastic Rope Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The growing demand for steel wire and plastic ropes is attributed to the increasing demand from various industries, such as industrial & crane, mining industries, and marine & fishing. Furthermore, steel wire rope and plastic ropes, being lightweight and possessing remarkable strength, offer low specific gravity, superior modulus of elasticity, high corrosion resistance, and high moldability, offering matchless impact resistance, flexibility, high strength, abrasion resistance, and corrosion resistance, which makes them much preferred in these industries.
Steel Wire Rope & Plastic Rope Market - Snapshot
Growth
5.2% for the next five years
Major Type of Lay
Regular Lay
Major Material Type
Polypropylene
Dominant Application Type
Industrial & Crane
Region with the highest demand
Asia-Pacific
Key Players
Bekaert SA, Cortland Limited, English Braids Ltd., Jiangsu Langshan,
Teufelberger Holding AG, Usha Martin, and Wireco Worldgroup Inc.
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Segments' Analysis
Steel Wire Rope & Plastic Rope Market Share: By Type of Lay
Based on the type of lay, the market is segmented as regular lay and lang lay. The regular lay segment held the larger share of the market in 2021, and is expected to remain dominant during the forecast period. Regular lay ropes are less prone to failure from distortion and crushing as they have shorter length of exposed outer wires. Also, compared to lang lay ropes, these ropes spool better. Owing to these properties, regular lay ropes find more use in various applications, which is likely to drive the growth of the segment during the forecast period.
Steel Wire Rope & Plastic Rope Market Share: By Material Type
Based on the material type, the market is segmented as polypropylene, polyester, nylon, HMPE, and specialty fibers. Polypropylene is expected to remain dominant during the forecast period. The usage of polypropylene ropes in the marine & fishing industry is on a large scale due to their economical price as compared to other ropes, which is a significant factor contributing to the growth of the segment.
Steel Wire Rope & Plastic Rope Market Share: By Application Type
Based on the application type, the market is segmented as marine & fishing, sports & leisure, oil & gas, industrial & crane, mining, construction, and others. The industrial & crane segment leads the market. Steel ropes are widely used in a range of end-user industries due to their high strength and lightweight nature. Marine and fishing equipment manufacturing, sports and leisure appliance manufacturing, and industrial crane and machinery manufacturing are a few examples. Steel and plastic ropes are gaining popularity due to their growing applications in these industries.
Steel Wire Rope & Plastic Rope Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for steel wire rope & plastic ropes during the forecast period, due to increase in the usage of steel ropes in various sectors, such as fishing, mining and construction. Recovery in end-use industries and advancement of industrial technology solutions are supporting the growth of the steel wire rope & plastic rope market in the region. The growth of the region's steel wire rope market is driven by the increasing demand for steel wire ropes from the industrial & crane, mining, and construction sectors. Increased urbanization and industrialization in countries such as China, India, and Japan are also driving the growth of the regional market.
Market Scope & Segmentation
Steel wire rope and plastic ropes are an assembly of yarns, plies, strands or fibers that are twisted or braided together into a stronger and larger form. They are formed in such a way that they can bear the load while lifting and dragging. Steel wire rope and plastic ropes are made with different materials such as steel, polypropylene, polyester, nylon, HMPE, and specialty fibers.
This report studies the market covering a period of 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.
Steel Wire Rope & Plastic Rope Market Research Report - Features
Market Segmentation
4
Regions Covered
4
Countries/Sub-Regions Covered
17
No. of Figures & Tables
>150
Company Profiles
10
The steel wire rope & plastic rope market is segmented into the following categories.
Steel Wire Rope & Plastic Rope Market Size, Share, & Forecast, by Type of Lay:
Regular Lay (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Lang Lay (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Steel Wire Rope & Plastic Rope Market Size, Share, & Forecast, by Material Type:
Polypropylene (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Nylon (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
HMPE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Specialty Fibers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Key Players
Key players in the steel wire rope & plastic rope market are:
Bekaert SA
Cortland Limited
English Braids Ltd.
Jiangsu Langshan
Marlow Ropes Ltd.
Samson Rope Technologies, Inc.
Southern Ropes
Teufelberger Holding AG
Usha Martin
Wireco Worldgroup Inc.
Research Methodology
This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the 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 the market dynamics and will enable strategic decision making for the 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, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
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 3 players)
SWOT analysis of key players (up to 3 players)
Market Segmentation
Current market segmentation of any one of the material types by application type.
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 at sales@stratviewresearch.com.
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Some of the top players in the steel wire rope & plastic rope market are Bekaert SA, Cortland Limited, English Braids Ltd., Jiangsu Langshan, Marlow Ropes Ltd., Samson Rope Technologies, Inc., Southern Ropes, Teufelberger Holding AG, Usha Martin, and Wireco Worldgroup Inc.
Based on the application type, the market is segmented as marine & fishing, sports & leisure, oil & gas, industrial & crane, mining, construction, and others. The industrial & crane segment leads the market. Steel ropes are widely used in a range of end-user industries due to their high strength and lightweight nature.
The growing demand for steel wire and plastic ropes is attributed to the increasing demand from various industries, such as industrial & crane, mining industries, and marine & fishing. Furthermore, steel wire rope and plastic ropes, being lightweight and possessing remarkable strength, offer low specific gravity, superior modulus of elasticity, high corrosion resistance, and high moldability, offering matchless impact resistance, flexibility, high strength, abrasion resistance, and corrosion resistance, which makes them much preferred in these industries.
Asia-Pacific is estimated to be the largest as well as the fastest-growing market for steel wire rope & plastic ropes during the forecast period, due to increase in the usage of steel ropes in various sectors, such as fishing, mining and construction.
