Synthetic Rope Market Growth Powered With Latest Development Scenario and Influencing Trends

Allied Market Research recently shared insights into the Synthetic Rope Market. According to their report, the global synthetic rope market reached $1.33 billion in 2017 and is expected to hit $2.18 billion by 2025, growing at a CAGR of 6.3%.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/2060

The surge in fish-product consumption, increased seaborne trade, and expanding cargo size are driving market growth. However, fluctuating raw material prices pose a challenge. The report also anticipates opportunities arising from advancements in synthetic rope manufacturing.

Specialty fibers dominate, constituting about one-third of the market share in 2017. With properties like thermal conductivity and chemical resistance, they are expected to lead in revenue. Polyester, offering UV resistance and heat resistance similar to nylon, is projected to grow the fastest at a CAGR of 7.3%.

In terms of end-use, construction holds the top spot, accounting for 40% of the market share in 2017. This is attributed to urbanization and increased construction activities. Meanwhile, the marine & fishing segment is expected to grow the fastest, with a CAGR of 7.2%, fueled by rising aquaculture production and fishing activities globally.

Europe is forecasted to have the fastest CAGR of 7.1%, driven by increased use in countries like France, Germany, UK, Italy, and Russia. North America, with over one-third of the market share in 2017, leads due to higher oil & gas production and exploration activities.

Key market players identified include Actuant Corporation, Atlantic Braids Ltd, Bridon-Bekaert Ropes Group, Bexco NV-SA, English Braids Ltd, Responsive Industries Ltd, Southern Ropes, Teufelberger, Touwfabriek Langman B.V., and Wireco WorldGroup.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/bioethanol-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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