Synthetic Rope Market Analysis by Industry Perspective Comprehensive Analysis Growth and Forecast 2025

Europe is expected to register the fastest CAGR of 7.1% from 2017 to 2025, owing to growing use of synthetic ropes across several countries such as France, Germany, UK, Italy, and Russia. However, North America holds the largest market share, accounting for more than one-third of the total share in 2017, owing to the increase in oil & gas production and rise in exploration activities.

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Allied Market Research published a new report, titled, "Synthetic Rope Market by Raw Material (Polypropylene, Polyester, Nylon, Polyethylene, and Specialty Fibers) and End Use (Marine & Fishing, Oil & Gas, Sports & Leisure, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. " The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Surge in consumption and demand for fish-products, rise in seaborne trade, and increased size of cargo have boosted the growth of the global synthetic rope market. However, fluctuating prices of raw materials restrain market growth. On the other hand, rapid advancements in synthetic rope manufacturing are expected to create lucrative opportunities in the near future.

This makes it important to understand the practical implications of the synthetic rope market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.

According to the report, the global synthetic rope market accounted for $1.33 billion in 2017 and is anticipated to reach $2.18 billion by 2025, registering a CAGR of 6.3% from 2018 to 2025.

KEY MARKET PLAYERS:

The report provides the SWOT analysis of the key market players including WireCo WorldGroup, Actuant Corporation, Bridon-Bekaert Ropes Group, and Southern Ropes (SR). The other prominent players in the market include English Braids Ltd., Teufelberger, Atlantic Braids Ltd., Bexco nv-sa (Bexco), Responsive Industries Ltd., and Touwfabriek Langman B.V.. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.

The construction segment accounted for about two-fifths of the total market share in 2017 and is expected to maintain its leadership status throughout the forecast period. This is attributed to increased urbanization and rise in the modern construction activities and surge in the infrastructural needs in the emerging economies. However, the marine & fishing segment is expected to register the highest CAGR of 7.2% through 2025, owing to rise in aquaculture production and fishing activities across the world. T

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The current situation of pandemic makes it very important for the stakeholders in the synthetic rope market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.

Specialty fibers segment accounted for nearly one-third of the total market share in 2017 and is expected to lead in terms of revenue throughout the forecast period. This is attributed to its robust and long-lasting properties such as thermal conductivity, electrical resistivity, and chemical or fuel resistance. On the other hand, the polyester segment is expected to register the highest growth with a CAGR of 7.3% from 2017 to 2025, owing to its properties that are as good as nylon ropes and it offers superior resistance to heat and UV rays.

KEY OFFERINGS OF THE REPORT:

Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.

Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.

Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.

Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.

Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.

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