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Synthetic Rope Market Size Worth $1.2 Billion By 2025 Owing To Its Improved Ability To Handle Heavy Materials In Industries | Grand View Research, Inc.

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Synthetic Rope Market Size Worth $1.2 Billion By 2025 Owing To Its Improved Ability To Handle Heavy Materials In Industries | Grand View Research, Inc.

March 31
13:27 2021
Synthetic Rope Market Size Worth $1.2 Billion By 2025 Owing To Its Improved Ability To Handle Heavy Materials In Industries | Grand View Research, Inc.

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The rapid strides made in the construction and infrastructure sectors, as well as the continued growth in the marine and fishing industry, have created numerous growth avenues for the synthetic rope market, as per an expansive study by Grand View Research. The COVID-19 pandemic affected the aforementioned sectors to a large extent, which had an impact on the synthetic rope industry as well.

The global synthetic rope market size is anticipated to reach USD 1.2 billion by 2025, according to a report by Grand View Research, Inc. The industry is expected to advance at a CAGR of 6.1% over the forecast period. Synthetic ropes find widespread use in a number of industrial settings on account of their durability and strength capabilities. The increasing application of these products in replacing steel ropes across various industries is expected to fuel the product demand over the forecast period. Demand generated by industrial activities has boosted the application of synthetic ropes owing to the prominent availability of synthetic fibers. These ropes are used in pulley systems to create mechanical advantage for effectively spreading the weight of loads. In addition, the product is used for transportation purposes of items to different working sites, such as scaffolding.

The presence of synthetic ropes has resulted in a sea of changes in various heavy industries. The synthetic rope market is witnessing the replacement of traditional materials such as steel wire and nylon. In addition, wide application of these products in the maritime industry provides benefits in industrial operations. Rising displacement of hard fiber ropes with synthetic ones has advanced at a rapid scale in developed countries owing to the commercial utilization of polyolefins fiber. The product finds extensive application in cranes on account of properties such as bend fatigue durability, high strength-to-weight ratio, and robust spooling capabilities. Polypropylene ropes have a large application base in the marine and shipment industries owing to sturdy construction and strong raw material. Synthetic ropes are widely used in marine, fishing, and shipment industries on account of its lightweight properties, reduction in knocking up and preparing for downtime, easy handling, floatable, and avoidance of re-lubing. 

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Synthetic Rope Market Report Highlights

 A notable application area of synthetic ropes is in the tree felling industry, wherein they are used for removing dead trees, roots, and stumps; furthermore, they aid workers in scaling the trees and bushes as well as exert safe movement around them

Continued innovations and advancements by market players have greatly aided in expanding the scope of the synthetic rope market. Dyneema is a popular fiber developed by DSM that is used to manufacture high-performance ropes, showing properties much stronger than steel

By product, nylon is expected to expand at the fastest CAGR of 6.6% through 2025 in the synthetic rope market, as these ropes exhibit great shock absorption features and different load applications owing to high elasticity

The marine and fishing industry application segment accounted for the largest share in the synthetic rope market in 2018, being valued at USD 293.1 million; synthetic ropes find heavy usage in the fishing industry, as fishing nets, twines, and others, and are heavily used in trawling applications

Asia Pacific accounted for almost 69% of the revenue share in the synthetic rope market in 2018, majorly aided by the continued developments witnessed in the construction sector, especially in economies such as India and China

Top players operating in the synthetic rope market include WireCo WorldGroup, Cortland, Bridon-Bekaert, Southern Ropes, MAGENTO, INC., Marlow Ropes, TEUFELBERGER, and Yale Cordage

In February 2021, TEUFELBERGER announced that its HyperTEN fiber ropes were selected by LIEBHERR for the heavy-lift ship crane HLC 150.000, which have been designed for construction of offshore wind foundations and transformer substations, as well as for the installation and dismantling of offshore platforms

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Synthetic Rope Market Segmentation

Grand View Research has segmented the global synthetic rope market by product, application, and region:

Synthetic Rope Product Outlook (Revenue, USD Million, 2015 – 2025)

     Specialty Fibers

Synthetic Rope Application Outlook (Revenue, USD Million, 2015 – 2025)

     Marine & Fishing Industry
     Oil & Gas Industry
     Industrial Construction

Synthetic Rope Regional Outlook (Revenue, USD Million, 2015 – 2025)

     North America
        • The U.S.
        • Germany
        • France
        • The U.K.
     Asia Pacific
        • China
        • India
     Central & South America
        • Brazil
     Middle East & Africa

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About Grand View Research

Grand View Research is a market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services to clients across a number of industries, including healthcare, materials, chemicals, energy, technology, and food and beverage, among others.

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