This report describes and explains the synthetic rope market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global synthetic rope market reached a value of nearly $1.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.88% since 2018. The market is expected to grow from $1.6 billion in 2023 to $2.2 billion in 2028 at a rate of 6.70%. The market is then expected to grow at a CAGR of 7.19% from 2028 and reach $3.2 billion in 2033.
Growth in the historic period resulted from the increase in industrialization activities, growth in the sports and leisure sector, increase in demand and consumption of fish products and increasing demand for renewable energy. Factors that negatively affected growth in the historic period were challenges associated with recycling and disposal of synthetic ropes.
Going forward, the increasing population density and urbanization, growth in residential and commercial construction activities, strong economic growth in emerging markets, increasing demand from the offshore oil and gas industry and government initiatives will drive the market. Factors that could hinder the growth of the synthetic rope market in the future include competition from alternative materials.
The synthetic rope market is segmented by material type into polypropylene, polyester, nylon, polyethylene and specialty fibers. The polypropylene market was the largest segment of the synthetic rope market segmented by material type, accounting for 30.5% or $495.28 million of the total in 2023. Going forward, the specialty fibers segment is expected to be the fastest growing segment in the synthetic rope market segmented by material type, at a CAGR of 8.03% during 2023-2028.
The synthetic rope market is segmented by sales channel type into direct sales and distributors. The distributors market was the largest segment of the synthetic rope market segmented by sales channel type, accounting for 67.7% or $1.1 billion of the total in 2023. Going forward, the direct sales segment is expected to be the fastest growing segment in the synthetic rope market segmented by sales channel type, at a CAGR of 7.14% during 2023-2028.
The synthetic rope market is segmented by end-user industry into marine and fishing, oil and gas, sports and leisure, construction and other end-users. The construction market was the largest segment of the synthetic rope market segmented by end-user industry, accounting for 41.6% or $676.27 million of the total in 2023. Going forward, the marine and fishing segment is expected to be the fastest growing segment in the synthetic rope market segmented by end-user industry, at a CAGR of 7.58% during 2023-2028.
Asia-Pacific was the largest region in the synthetic rope market, accounting for 34.5% or $560.3 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the synthetic rope market will be Western Europe and Asia-Pacific, where growth will be at CAGRs of 8% and 7.2% respectively. These will be followed by North America and South America, where the markets are expected to grow at CAGRs of 6.3% and 6% respectively.
The global synthetic rope market is fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 9.58% of the total market in 2023. The market fragmentation can be attributed to the presence of a large number of small players in different geographies. Honeywell International Inc. was the largest competitor with a 5.64% share of the market, followed by WireCo WorldGroup Inc. with 1.46%, Bridon-Bekaert Ropes Group Ltd. with 0.76%, Lankhorst Ropes with 0.54%, Hampidjan Group with 0.38%, Southern Ropes Ltd. with 0.30%, Yale Cordage Inc. with 0.15%, Donaghys Ltd. with 0.14%, Teufelberger GmbH with 0.13% and Samson Rope Technologies Inc. with 0.08%.
The top opportunities in the synthetic rope market segmented by material type will arise in the specialty fibers segment, which will gain $206 million of global annual sales by 2028. The top opportunities in the synthetic rope market segmented by sales channel type will arise in the distributors segment, which will gain $405.7 million of global annual sales by 2028. The top opportunities in the synthetic rope market segmented by end-user industry will arise in the construction segment, which will gain $261.8 million of global annual sales by 2028. The synthetic rope market size will gain the most in the USA at $127.8 million.
Market-trend-based strategies for the synthetic rope market include focusing on offering new and improved synthetic rope products, strategic partnerships and collaborations and acquisitions, increasing investments in new manufacturing facilities, focusing on launching a new range of hoists with synthetic ropes and focusing on introducing new, innovative nylon ropes made of HDPE (high-density polyethylene) designed specifically for heavy-duty applications.
Player-adopted strategies in the synthetic rope market include focus on new product launches to develop business expertise and focus on expanding operational capabilities through new product developments.
To take advantage of the opportunities, the analyst recommends the synthetic rope companies to focus on innovation in synthetic rope products, focus on synthetic rope hoists for innovative lifting solutions, focus on innovative HDPE nylon ropes for heavy-duty applications, focus on specialty fibers segment, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, focus on facility expansion, provide competitively priced offerings, focus on competitive pricing strategies, focus on targeted digital marketing campaigns, emphasize value-added services and solutions and focus on marine and fishing, and construction end-use sectors.
The global synthetic rope market reached a value of nearly $1.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.88% since 2018. The market is expected to grow from $1.6 billion in 2023 to $2.2 billion in 2028 at a rate of 6.70%. The market is then expected to grow at a CAGR of 7.19% from 2028 and reach $3.2 billion in 2033.
Growth in the historic period resulted from the increase in industrialization activities, growth in the sports and leisure sector, increase in demand and consumption of fish products and increasing demand for renewable energy. Factors that negatively affected growth in the historic period were challenges associated with recycling and disposal of synthetic ropes.
Going forward, the increasing population density and urbanization, growth in residential and commercial construction activities, strong economic growth in emerging markets, increasing demand from the offshore oil and gas industry and government initiatives will drive the market. Factors that could hinder the growth of the synthetic rope market in the future include competition from alternative materials.
The synthetic rope market is segmented by material type into polypropylene, polyester, nylon, polyethylene and specialty fibers. The polypropylene market was the largest segment of the synthetic rope market segmented by material type, accounting for 30.5% or $495.28 million of the total in 2023. Going forward, the specialty fibers segment is expected to be the fastest growing segment in the synthetic rope market segmented by material type, at a CAGR of 8.03% during 2023-2028.
The synthetic rope market is segmented by sales channel type into direct sales and distributors. The distributors market was the largest segment of the synthetic rope market segmented by sales channel type, accounting for 67.7% or $1.1 billion of the total in 2023. Going forward, the direct sales segment is expected to be the fastest growing segment in the synthetic rope market segmented by sales channel type, at a CAGR of 7.14% during 2023-2028.
The synthetic rope market is segmented by end-user industry into marine and fishing, oil and gas, sports and leisure, construction and other end-users. The construction market was the largest segment of the synthetic rope market segmented by end-user industry, accounting for 41.6% or $676.27 million of the total in 2023. Going forward, the marine and fishing segment is expected to be the fastest growing segment in the synthetic rope market segmented by end-user industry, at a CAGR of 7.58% during 2023-2028.
Asia-Pacific was the largest region in the synthetic rope market, accounting for 34.5% or $560.3 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the synthetic rope market will be Western Europe and Asia-Pacific, where growth will be at CAGRs of 8% and 7.2% respectively. These will be followed by North America and South America, where the markets are expected to grow at CAGRs of 6.3% and 6% respectively.
The global synthetic rope market is fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 9.58% of the total market in 2023. The market fragmentation can be attributed to the presence of a large number of small players in different geographies. Honeywell International Inc. was the largest competitor with a 5.64% share of the market, followed by WireCo WorldGroup Inc. with 1.46%, Bridon-Bekaert Ropes Group Ltd. with 0.76%, Lankhorst Ropes with 0.54%, Hampidjan Group with 0.38%, Southern Ropes Ltd. with 0.30%, Yale Cordage Inc. with 0.15%, Donaghys Ltd. with 0.14%, Teufelberger GmbH with 0.13% and Samson Rope Technologies Inc. with 0.08%.
The top opportunities in the synthetic rope market segmented by material type will arise in the specialty fibers segment, which will gain $206 million of global annual sales by 2028. The top opportunities in the synthetic rope market segmented by sales channel type will arise in the distributors segment, which will gain $405.7 million of global annual sales by 2028. The top opportunities in the synthetic rope market segmented by end-user industry will arise in the construction segment, which will gain $261.8 million of global annual sales by 2028. The synthetic rope market size will gain the most in the USA at $127.8 million.
Market-trend-based strategies for the synthetic rope market include focusing on offering new and improved synthetic rope products, strategic partnerships and collaborations and acquisitions, increasing investments in new manufacturing facilities, focusing on launching a new range of hoists with synthetic ropes and focusing on introducing new, innovative nylon ropes made of HDPE (high-density polyethylene) designed specifically for heavy-duty applications.
Player-adopted strategies in the synthetic rope market include focus on new product launches to develop business expertise and focus on expanding operational capabilities through new product developments.
To take advantage of the opportunities, the analyst recommends the synthetic rope companies to focus on innovation in synthetic rope products, focus on synthetic rope hoists for innovative lifting solutions, focus on innovative HDPE nylon ropes for heavy-duty applications, focus on specialty fibers segment, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, focus on facility expansion, provide competitively priced offerings, focus on competitive pricing strategies, focus on targeted digital marketing campaigns, emphasize value-added services and solutions and focus on marine and fishing, and construction end-use sectors.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Synthetic Rope Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Synthetic Rope Market Segmentation
11 Synthetic Rope Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Key Mergers and Acquisitions
21 Opportunities and Strategies
22 Synthetic Rope Market, Conclusions and Recommendations
23 Appendix
Executive Summary
Synthetic Rope Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global synthetic rope market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for synthetic rope? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The synthetic rope market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider synthetic rope market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by material type, by sales channel type and by end-user industry.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the synthetic rope market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by material type, by sales channel type and by end-user industry in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and Strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for synthetic rope providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Material Type: Polypropylene; Polyester; Nylon; Polyethylene; Specialty Fibers2) By Sales Channel Type: Direct Sales; Distributors
3) By End User Industry: Marine; Fishing; Oil; Gas; Sports; Leisure; Construction; Other End-Users
Key Companies Mentioned: Honeywell International Inc.; WireCo WorldGroup Inc.; Bridon-Bekaert Ropes Group Ltd.; Lankhorst Ropes; Hampidjan Group
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; synthetic rope indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Honeywell International Inc.
- WireCo WorldGroup Inc.
- Bridon-Bekaert Ropes Group Ltd.
- Lankhorst Ropes
- Hampidjan Group
- Southern Ropes Ltd.
- Yale Cordage Inc.
- Donaghys Ltd.
- Teufelberger GmbH
- Samson Rope Technologies Inc
- Orion Ropes
- Tufropes
- Bullplus Polyfils
- Toray Industries Inc
- Hainan Baling Chemical New Material Co., Ltd
- Shandong Haidai Intelligent Machinery Co., Ltd
- Zhejiang Tianfeng Plastic Machinery Co
- Yasheng Rope
- Wire Co
- Shanghai Jinli Special Rope Co., Ltd
- Polymer Standards Service GmbH (PSS)
- Tractel
- Marlow Ropes Ltd
- Agilent Technologies Inc
- Island Ropes
- Verlinde SAS
- Rope Source UK
- Ropes Direct
- Novatec Braids, Ltd
- Yale Cordage
- Aimia Inc
- Pelican Rope Works
- ATLANTIC BRAIDS LTD
- Langman Ropes
- Cortland Limited
- Phillystran, Inc
- Wire Rope Industries, Ltd
- Lankhorst Euronete
- Cotesi Marine
- Gulf Rope & Plastic Products
- RedAnt Agricultural Eng. Solutions Company
- Rope World
- Knittex
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 267 |
Published | May 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 1.6 Billion |
Forecasted Market Value ( USD | $ 3.2 Billion |
Compound Annual Growth Rate | 6.9% |
Regions Covered | Global |