The Global Rope Market size is expected to reach $19.7 billion by 2030, rising at a market growth of 6.5% CAGR during the forecast period
Europe maritime and fishing industries are expanding which lead to increase in demand for synthetic ropes. Consequently, Europe acquired $2,836.9 million revenue in the market in 2022. Moreover, the expansion of the construction sector drives the need for steel wire and synthetic rope.
New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rope Market Size, Share & Industry Trends Analysis Report By Product, By End User, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481479/?utm_source=GNW According to European Union, building output rose 4.8% in the EU and 4.1% in the euro region in January 2022 compared to January 2021. Additionally, hemp rope, synthetic rope, and jute rope have expanded due to the rise in DIY interior décor and home repair projects across Germany. Some of the factors impacting the market are aquaculture Sector Growth, expanding construction industry, and high raw material costs.The Food and Agriculture Organization of the United Nations anticipated that 178 million tonnes of aquatic animals would be produced globally in 2020. Approximately 88% of this was utilized for direct or indirect human consumption, with aquaculture output accounting for 49% and capture production for 51% of the total. As a result, during the projection period, the enormous growth of the shipping sector and seaborne trade will also increase the demand for ropes. The amount spent on construction in the United States in April was $1.74 trillion, 0.2 percent and 12.3 percent greater than in April 2021. However, to increase energy efficiency, the Canadian government will provide more than CAD $2 million to three house construction projects in Ontario. Rope demand is fueled by its use in the construction industry.However, Plastic fibers are very costly and are used to make plastic ropes. Steel is less costly than the raw materials or plastic fibers used to make ropes, such as PE, PP, and nylon. The cost of high-performance specialty fibers like aramid, HMPE, and LCP is higher than that of the aforementioned basic materials. The price increases with the fiber’s strength. During the anticipated time, these issues are limiting the expansion of the market.Product OutlookOn the basis of product, the market is segmented into synthetic, steel wire, cotton, and others. The steel wire segment dominated the market with the maximum revenue share in 2022. The mining, oil and gas, maritime, and construction sectors often employ steel wire ropes. It consists of wires, strands, and a steel and fiber core. Twisting the wires—typically constructed of stainless and high carbon steel—creates steel wire ropes. The rope’s job is to protect and support the outer strands so they may perform as intended. The strength-to-weight ratio of steel wire rope is more significant, which is a key characteristic for many applications, particularly in the nautical and fishing industries.End-Users OutlookBased on end-users, the market is divided into industrial, commercial, and residential. IN 2022, the commercial segment garnered a significant revenue share in the market. Camping, rock climbing, logistics, agriculture, adventure sports, and other purposes are commercial uses for ropes. Ropes, which may be used for bundling, holding, and fastening, are a need on construction sites. They may also have been used for fall protection in specific circumstances. Nylon, hemp, polyester, and polypropylene are a few of the numerous kinds of rope utilized in industry.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The APAC region held the highest revenue share in the market in 2022. Construction operations for commercial and residential buildings are rising quickly, increasing the need for lightweight, highly strengthened ropes that are waterproof and durable. The expanding infrastructure requirements in developing nations like China and India are driving the need for synthetic ropes. Additionally, twine and rope are widely exported from China, South Korea, and India. The Observatory of Economic Complexity (OEC) estimates that in 2020, more than 36% of the world’s export value came from China, India, and South Korea. This is predicted to drive market growth throughout the course of the forecast period.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bridon-Bekaert Ropes Group (Bekaert Group), Cortland Limited (Enerpac Tool Group), Marlow Ropes Ltd., WireCo WorldGroup, Inc., Yale Cordage, TEUFELBERGER Holding AG, English Braids Ltd., Southern Ropes, van Beelen Group BV and Dynamica Ropes ApS (Netmark Holding).Strategies Deployed in Rope MarketApr-2023: TEUFELBERGER unveiled the new KM Pro rope, a certified EN1891A rope and CI 1801. The product is particularly manufactured to the requirements of the rope access sector and perfectly merges performance and price.Mar-2023: WireCo announced the launch of Casar and Oliveira products, High-Performance crane ropes made in the USA. This launch aims to provide similar quality ropes that customers got from facilities in Portugal and Germany.Aug-2022: WireCo launched its new line of Union Gladiator pendants, developed to enhance the service life of shovels and draglines by 10-15 times over conventional technologies. The series of product features synthetic fibres, that notably improves the service life by decreasing vibration and absorbing loads.Jun-2022: Bridon-Bekaert Ropes Group introduced Dyform 36LR PI+, a compacted, high-performance, multi-layer construction rope. The launched rope consists of an engineered extruded plastic that is rolled out between the 18 outer strands and the rope core. Additionally, the rope is suitable for shipboard deck cranes and foundation-making equipment.Apr-2022: The TEUFELBERGER Group took over Maillis Plastics Solutions, a provider of plastic straps’ complete range. Through this acquisition, the company would broaden its plastics processing division. Moreover, the acquisition secures MPS’ high-performance fibre ropes, steel wire ropes, and strapping abilities.Feb-2022: Bridon-Bekaert Ropes Group completed the acquisition of VisionTek Engineering SRL, a company specializing in 3D optical measurement technology that runs performance and surface algorithms to contrast real-time performance with key rope parameter needs. Following this acquisition, Bridon-Bekaert Ropes Group marks a key strategic step in broadening the service portfolio to customers.Apr-2021: Yale Cordage rolled out Sierra 78, a green synthetic rope product produced in the USA. The Sierra 78 is built with Dyneema® SK78 fibre, a bio-based ultra-high molecular weight polyethylene. Additionally, the launched product is a 12-strand single braid of bio-based Dyneema® fibre which would be used by companies across industries that includes Arboriculture, Electrical Utility, Mining, and Industrial.Nov-2020: Marlow Ropes came into collaboration with The SailGP, the global sailing league. Following this collaboration, Marlow would offer its sustainable ropes as an official Rope provider to the global league and would feature onboard SailGP’s advanced race boats.May-2020: Marlow Ropes introduced the BLUE OCEAN® RAPTOR, a Lowering line made from Marlow’s trademarked Blue Ocean® yarn. The launch is the first in the Tree Work and Arboriculture industry, as well as it is manufactured by utilizing 100 % recycled plastic bottles.Scope of the StudyMarket Segments covered in the Report:By Product• Steel Wire• Synthetic• Cotton• OthersBy End User• Industrial• Commercial• ResidentialBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Bridon-Bekaert Ropes Group (Bekaert Group)• Cortland Limited (Enerpac Tool Group)• Marlow Ropes Ltd.• WireCo WorldGroup, Inc.• Yale Cordage• TEUFELBERGER Holding AG• English Braids Ltd.• Southern Ropes• van Beelen Group BV• Dynamica Ropes ApS (Netmark Holding)Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06481479/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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