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Synthetic Rope Market Size, Share, Growth, Trends And Industry Forecast 2023-2032
Synthetic Rope Market Report
The Business Research Company's Synthetic Rope Global Market Report 2023 identifies a significant rise in consumption and demand for fish products as the major driver for the synthetic rope market's growth in the forecast period. Fish products refer to the products that are made out of various fishes and related sub components. Synthetic ropes are preferred in the fishing industry as they are lightweight, easy to handle, and floatable, which reduces downtime and enhances efficiency.
The global synthetic rope market size is expected to grow from $1.56 billion in 2022 to $1.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global synthetic rope market size is expected to reach $2.2 billion in 2027 at a CAGR of 7%.
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Major competitors in the synthetic rope market are Cortland Limited, Samson Rope Technologies, WireCo., Southern Ropes, Marlow Ropes, Teufelberger, Bridon-Bekaert, LANEX a.s., Bexco, Katradis Marine Ropes Ind. S.A., Atlantic Braids Ltd., Dong Yang Rope Manufacturing Co.Ltd., Unirope Ltd., Touwfabriek Langman, and Tufropes Pvt Ltd.
A key trend in the synthetic rope market includes technological innovations. Major companies operating in the synthetic rope market are introducing innovative products to strengthen their position in the market. For instance, in March 2023, Bullplus Polyfils, an India-based manufacturer of superior rope and netting items, launched HDPE nylon rope for heavy-duty applications. This innovative rope is made using cutting-edge technology and superior-quality raw materials. The rope's ability to withstand extreme weather makes it perfect for usage in outdoor and marine settings.
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The synthetic rope market is segmented -
•By Material Type: Polypropylene, Polyester, Nylon, Polyethylene, Specialty Fibers
•By Sales Channel Type: Direct Sales, Distributors
•By End- User Industry: Marine and Fishing, Oil And Gas, Sports And Leisure, Construction, Cranes, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the synthetic rope market.
The Business Research Company's "Global Synthetic Rope Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Synthetic Rope Market Include:
1. Synthetic Rope Market Executive Summary
2. Synthetic Rope Market Characteristics
3. Synthetic Rope Market Trends And Strategies
4. Synthetic Rope Market - Macro Economic Scenario
5. Synthetic Rope Market Size And Growth
……
26. Africa Synthetic Rope Market
27. Synthetic Rope Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Synthetic Rope Market
29. Synthetic Rope Market Future Outlook and Potential Analysis
30. Appendix
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