Global Synthetic Fiber Rope Market to 2030: High Strength and Light Weight of Synthetic Ropes Drives Growth

News provided by

Apr 11, 2023, 14:45 ET

DUBLIN, April 11, 2023 /PRNewswire/ -- The "Synthetic Fiber Rope Market Size, Share, Trends, By Material Type, By End-use, By Region, Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global market for synthetic fiber rope was valued at USD 1.70 Billion in 2021, and is expected to experience a Compound Annual Growth Rate (CAGR) of 5.9% over the forecast period.

Companies Mentioned

WireCo WorldGroup
Cortland Limited
Bridon-Bekaert
Southern Ropes
Marlow Ropes
Teufelberger
Yale Cordage
LANEX a. s.
Katradis Marine Ropes Ind. S.A
Unirope Ltd.

The market growth is being driven by synthetic ropes with a high strength-to-weight ratio. Synthetic fibers, which are man-made textiles derived from chemicals, are used to replace natural fibers in making synthetic ropes.

High-performance synthetic ropes are being marketed as a newer solution for various end users, such as mine operators, to enhance productivity and safety at their sites. Research indicates that synthetic ropes have breaking strengths that are 30-90% higher than those of steel wire ropes, creating high demand for synthetic ropes .

The market for synthetic ropes is also expanding due to the increasing demand for industrial rope and the accessibility of synthetic fibers. These ropes are commonly used in pulley systems to offer mechanical advantage and evenly distribute load weight. They are also used in the construction industry to weigh payloads and transport supplies to different job sites, including scaffolding .

Synthetic fiber ropes provide ample opportunities for revenue growth as a superior replacement for steel wire ropes, particularly in developed countries where they have quickly replaced hard fiber ropes due to the widespread commercial applications of polyolefin fibers.

They are also known to reduce the weight of the front of a typical recreational off-road vehicle by up to 30 pounds when used with an aluminum hawse fairlead. Furthermore, rigging vehicle extractions is much easier with synthetic ropes, particularly in rocky and uneven terrain, as they can even float due to their lightness. Synthetic ropes can weigh up to 80% less than steel wire ropes .

The demand for synthetic ropes is expected to increase owing to their safety benefits. Synthetic ropes are very light and do not store energy when loaded, making them less likely to cause injury when they break, as opposed to steel wire ropes that can snap back and cause whiplash.

Additionally, synthetic ropes lack the wire burrs and splinters commonly found in steel wire ropes, reducing the risk of sudden hand injuries while handling them. Synthetic ropes are also less likely to result in physical strain and bodily weariness during winching processes, which is cost-effective due to less labor cost .

However, synthetic ropes have several drawbacks, which could limit the growth of the market. For example, synthetic ropes and slings are more vulnerable to environmental factors that can damage them, such as prolonged exposure to sunshine or Ultraviolet (UV) radiation, and chemically active surroundings.

The tensile strength of synthetic webbing slings can also be affected by contact with chemicals present as solids, liquids, vapors, or fumes. Nylon and polyester slings, for instance, can only be used under 194oF (90oC), or below minus 40oF (minus 40oC).

Market Dynamics:

Driver:

Increasing demand due to advantageous properties of synthetic rope

Synthetic rope is becoming increasingly popular due to its strong, lightweight, and corrosion-resistant properties, making it ideal for applications such as mooring, ship assistance, inland towing, and lifting lines. Its use in the tree-felling business is also on the rise as it enables workers to move around and mount plants and trees securely.

Synthetic rope is also widely used in cranes due to its high strength-to-weight ratio, strong spooling capabilities, and resistance to bend fatigue. The rising demand from various industries is one of the primary drivers of revenue growth in the market.

Restraint:

Non-biodegradable nature of synthetic rope

The non-biodegradable nature of synthetic rope is expected to limit global revenue growth in the market. Unlike natural fiber ropes, which are made from renewable and biodegradable resources such as jute, sisal, and hemp, synthetic rope is made from polymers with hazardous chemical consequences and does not degrade over time.

As a result, many federal organizations are taking steps to reduce petrochemical waste, which is expected to limit revenue growth in the market.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Synthetic Fiber Rope Market Segmentation & Impact Analysis

4.1. Synthetic Fiber Rope Market Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market driver's analysis

4.2.2.1. High Strength and Light Weight of Synthetic Ropes

4.2.2.2. Safety Aspects of Synthetic Ropes

4.2.2.3. Growth in seaborne trade and increase in size of cargo.

4.2.2.4. Better alternative to steel wire ropes.

4.2.3. Market restraints analysis

4.2.3.1. High Cost of Raw Materials and Frequent Preventive Maintenance

4.2.3.2. Fluctuating prices of raw material

4.3. Technological Insights

4.4. Regulatory Framework

4.5. Price trend Analysis

4.6. Customer Mapping

4.7. COVID-19 Impact Analysis

4.8. Global Recession Influence

Chapter 5. Synthetic Fiber Rope Market By Material Type Insights & Trends

5.1. Material Type Dynamics & Market Share, 2022 & 2030

5.2. Polypropylene

5.3. Polyester

5.4. Nylon

5.5. Specialty Fibers

Chapter 6. Synthetic Fiber Rope Market By End-Use Insights & Trends

6.1. End-Use Dynamics & Market Share, 2022 & 2030

6.2. Marine & Fishing

6.3. Oil & Gas

6.4. Industrial Construction

6.5. Others

Chapter 7. Synthetic Fiber Rope Market Regional Outlook

Chapter 8. Competitive Landscape

8.1. Market Revenue Share by Manufacturers

8.2. Manufacturing Cost Breakdown Analysis

8.3. Mergers & Acquisitions

8.4. Market positioning

8.5. Strategy Benchmarking

8.6. Vendor Landscape

Chapter 9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/n2rvr

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets