Global Synthetic Rope Market Report and Forecast 2024-2032

Global Synthetic Rope Market Outlook

The global synthetic rope market size reached a value of approximately USD 1,439.33 million in 2023. The market is further expected to grow at a CAGR of 6.2% between 2024 and 2032, reaching a value of USD 2,473.34 million by 2032.

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Key Trends in the Market

Synthetic ropes are ropes manufactured by braiding together one or more different types of synthetic fibre. These ropes are usually made of synthetic fibres such as polypropylene, nylon, polyester, and other materials. Synthetic ropes offer several advantages over traditional ropes made from natural fibres. Moreover, they are capable of maintaining their length and strength even under heavy loads.

• One of the primary factors driving the synthetic rope market growth is the increasing demand from the offshore oil and gas sector. Synthetic ropes offer several advantages over traditional steel ropes, including lower weight, greater flexibility, and resistance to corrosion and abrasion. They also have a longer lifespan than steel ropes, which means they can handle more loads over a longer period of time.

• Another synthetic rope market trend is the increasing demand from the shipping industry. Synthetic ropes are used in mooring and towing applications, where they offer several advantages over steel ropes, including reduced weight, lower cost, and improved safety. They also have a higher tensile strength than steel ropes of the same diameter, allowing ships to use thinner ropes that take up less space on board.

• Various governing agencies in different regions are implementing strategies to enhance the productivity and efficiency of the aquaculture sector due to the rapidly growing global population and rising food security concerns. This will likely enhance the synthetic rope demand for various applications in the aquaculture sector, propelling the market value.

Market Analysis

Based on product type, the market is segmented into polypropylene, polyester, nylon, polyethylene, and speciality fibre. On the basis of application, the market can be divided into marine and fishing, oil ang gas, and construction, among others. The major regions covered in the synthetic rope market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global synthetic rope market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• WireCo WorldGroup Inc

• Bridon-Bekaert the Ropes Group

• Cortland Limited

• Southern Ropes

• Marlow Ropes Ltd

• Teufelberger Holding Aktiengesellschaft

• Katradis Marine Ropes Industry S.A.

• Lanex A.S.

• Yale Cordage

• Others

Market Share by Product Type

Among the different product types, polypropylene is anticipated to hold the largest synthetic rope market share during the forecast period. This type of rope is a tough polymer that is highly resistant to solvents and adhesives. It is made from three-strand yarn, which provides maximum strength and durability. The marine as well as the shipping sector widely utilise it due to its robust construction and strong mechanical property. It is commonly used in boats, winches, pulleys, and general fastening and securing applications.

The rope is also buoyant, making it easy to retrieve from the water surface and serving as a suitable option for use around water. Therefore, the demand for synthetic polypropylene rope is expected to grow significantly in the forecast period, owing to its advantageous properties over traditional ropes.

Market Share by Application

The synthetic rope market demand from the marine and fishing sector has grown significantly. Synthetic ropes are preferred in these industries because they are lightweight, easy to handle, and floatable, which reduces downtime and enhances efficiency. They also provide good insulation and are resistant to chemicals, making them suitable for use in harsh environments. These ropes come in various colours and forms and are used in fishing nets and twines. They are commonly used in trawling applications because of their high strength-to-weight ratio, resistance to abrasion, and high breaking strength.

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Competitive Landscape

WireCo WorldGroup Inc is one of the market leaders in areas including critical wire rope, synthetic rope,  synthetic yarns, electromechanical cable, and engineered products. The headquarter of the company is currently located in Kansas, United States. With a focus on research and development, the company is committed to delivering innovative and high-quality products to its customers.

Bridon-Bekaert the Ropes Group is a specialised manufacturer and provider of advanced ropes and cords. The company was formed in 2016 through the merger of Bridon, a UK-based manufacturer of wire and rope solutions, and Bekaert, a Belgian wire technology company. The company’s specialisations include steel wire ropes, synthetic ropes, advanced cords, mission critical rope solutions, and wire ropes, and it also offers installation, maintenance, and monitoring services.

Cortland Limited. is a is a global designer and manufacturer of technologically advanced ropes and custom synthetic ropes, slings, tethers, and strength members, holding an experience of over 40 years. The company has developed solutions to tackle the most challenging environments, helping its clients across sectors like subsea, marine, and energy.

Other synthetic rope market players include Southern Ropes, Marlow Ropes Ltd, Teufelberger Holding Aktiengesellschaft, Katradis Marine Ropes Industry S.A., Lanex A.S., and Yale Cordage, among others.

Key Highlights of the Report