Synthetic Rope Market to experience an impressive growth of 6.4% during 2016-2021

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Synthetic Rope Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Synthetic Rope Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2016-2021.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Global Synthetic Rope Market: Highlights
Synthetic rope offers many advantages over steel rope, such as higher corrosion resistance, fatigue resistance, weather and chemical resistance, and light weighting. It is widely preferred in the many industries, such as marine & fishing, mining, oil & gas, building & construction, and sports industry. It has been continuously gaining market acceptance over the last few decades by replacing steel ropes. Synthetic rope is about one seventh of the weight of similar sized wire rope.

1The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Material Type : Polypropylene, Polyester and Others
• by End Use Industry : Marine & Fishing, Mining and Others
• by Sales Channel : Direct Sales and Distributors
• by Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
The global synthetic rope market offers a healthy growth opportunity and is likely to experience 6.4% CAGR during the forecast period of 2016 to 2021. Marine & Fishing segment is likely to remain the growth engine of the synthetic rope market during the forecast period. Synthetic ropes provide excellent corrosion and abrasion resistance and light weighting in the wide array of marine & fishing applications, such as mooning lines, towing lines, hoisting lines.

Market Segments
North America is expected to remain the largest market for synthetic rope in the next five years. Excellent distribution network across North America region, high marine & fishing activities, high offshore oil & gas activities are the prime drivers of the North American synthetic rope market.

Players
The key synthetic rope manufactures are WireCo Worldgroup Inc., Cortland Limited, Marlow Ropes, Samson Ropes Technologies, and Bridon International. New product development and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.

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This release was published on openPR.