Synthetic Rope Market Size To Reach $1.80 Billion By 2030

Synthetic Rope Market Growth & Trends

The global synthetic rope market size is expected to reach USD 1.80 billion by 2030, registering a CAGR of 8.6% during the forecast period, according to a new report by Grand View Research, Inc. Growing awareness regarding diverse application of this product is anticipated to drive the market over the forecast period. Increasing application of these products 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 rope owing to prominent availability of synthetic fibers. These are used in the pulley system in order to create mechanical advantage to effectively spread the weight of loads. Therefore, these are widely used in the construction industry in order to weigh down loads and materials. In addition, it is used for the purpose of transportation of items to different sites of working such as scaffolding.

The industry faces a revolution of changes with adoption of synthetic ropes. The synthetic rope market is also witnessing 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 also finds its application in cranes on account of properties such as bend fatigue durability, high strength-to-weight ratio, and robust spooling capabilities.

In terms of product, polypropylene dominated the global market in 2023. These ropes have a large application base in the marine and shipment industries owing to sturdy construction and strong raw material. It is widely used in boats, pulleys and winches, and general fastening and securing. It also exhibits floating properties, and since it is easily able to be retrieved from water surface, it is an obvious choice of ropes used around water. Therefore, polypropylene is expected to gain a major share in the coming years owing to its vast usage in the forecast period.

The marine and fishing industry emerged as the largest application segment in the market. These are used in the fishing industry as fishing nets, twines, and others. These are used in trawling applications on account of better resistance to abrasion, high breaking strength, and high strength-to-weight ratio. 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. These products assist with great insulation capacity, provides resistance in chemically affected environment, and prevents any absorption.

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Synthetic Rope Market Report Highlights

• By product, nylon is anticipated to witness the fastest CAGR during the forecast period. Their flexibility and elasticity contribute to their ability to absorb shocks and vibrations, making them suitable for various tasks, including industrial, construction, marine and oil & gas activity.

• The marine and fishing industry application segment dominated the synthetic rope market in 2023. Driven by its lightweight properties, reduction in knocking up and preparing for downtime, easy handling, floatable, and avoidance of re-lubing.

• By application, industrial construction is expected to witness the fastest CAGR during the forecast period in 2023 owing to rising infrastructural developments and advancements in technologies.

Synthetic Rope Market Segmentation

Grand View Research has segmented the global synthetic rope market based on type, application, and region:

Synthetic Rope Type Outlook (Revenue, USD Million, 2018 - 2030)

• Polypropylene

• Polyester

• Nylon

• PE

• Specialty Fibers

Synthetic Rope Application Outlook (Revenue, USD Million, 2018 - 2030)

• Marine & Fishing

• Oil & Gas

• Industrial Construction

• Others

Synthetic Rope Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • China

  • India

  • Australia & New Zealand

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players in the Synthetic Rope Market

• WireCo WorldGroup

• Cortland Limited

• Bridon-Bekaert

• Southern Ropes

• MAGENTO, INC.

• Marlow Ropes

• TEUFELBERGER

• Yale Cordage

• LANEX a.s.