Press release
Steel Wire Rope And Plastic Rope Market Demand, Share, Trends, Forecast, and Market Overview 2024-2033
Steel Wire Rope And Plastic Rope Market
The Business Research Company offers in-depth market insights through Steel Wire Rope And Plastic Rope Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The steel wire rope and plastic rope market size has grown strongly in recent years. It will grow from $13.14 billion in 2023 to $14.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrialization and infrastructure development, oil and gas exploration, mining industry expansion, shipping and maritime activities, automotive manufacturing.
The steel wire rope and plastic rope market size is expected to see strong growth in the next few years. It will grow to $18.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to rising environmental concerns, marine and aquaculture applications, preference for lightweight materials, expansion of outdoor leisure activities, agricultural and gardening practices. Major trends in the forecast period include material diversification, industry-specific demand, innovation in rope design, market expansion in developing regions, focus on safety and compliance.
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Market Segmentation:
The steel wire rope and plastic rope market covered in this report is segmented -
1) By Type Of Lay: Regular Lay, Lang Lay
2) By Material Type: Polypropylene, Polyester, Nylon, HMPE (High Modulus Polyethylene), Specialty Fibers
3) By Application: Marine And Fishing, Sports And Leisure, Oil And Gas, Industrial And Crane, Mining, Construction, Other Applications
Major Driver - Rising Fishing Industry Drives Demand For Steel Wire Rope And Plastic Rope Market
The increasing fishing job and industry is expected to propel the growth of the steel wire rope and plastic rope market forward. The fishing industry refers to the economic sector that involves the catching, processing, marketing, and selling of fish and other aquatic resources, such as crustaceans, mollusks, and seaweed. Steel wire ropes and plastic ropes are widely used in the fishing industry for making nets due to their high strength and durability. For instance, in 2022, according to the Food and Agriculture Organization of the United Nations, an Italy-based organization working to finish world hunger issues and for improving food quality and security, global fish production increased by 1.2% to 184.1 million tonnes as compared to 2018. The aquaculture output increased by 2.6%. Global fish trade revenue increased by 10.7% year-on-year to USD 193.5 billion. As a result, the increasing fishing jobs and industry is driving the growth of the steel wire rope and plastic rope market.
Competitive Landscape:
Major companies operating in the steel wire rope and plastic rope market report are N.V. Bekaert S.A., Cortland Limited, English Braids Ltd., Jiangsu Langshan Wire Rope Co. Ltd., Marlow Ropes Ltd., Samson Rope Technologies Inc., Southern Ropes Pty Ltd., Teufelberger Holding AG, Usha Martin Ltd., Sandin Manufacturing Inc., Bergen Cable Technology Inc., Strand Products Inc., Guizhou Wire Rope Incorporated Company, Ver Sales Inc., Dunamis Wire Ropes Mfg. LLP, Bekaert SA, WireCo WorldGroup Inc., Gustav Wolf, Wire Rope Industries, Bridon-Bekaert Ropes Group, Tokyo Rope Mfg. Co. Ltd., Kiswire Ltd., Shinko Wire Company Ltd., DSR Corporation, Alps Wire Rope Corporation, Jiangsu Nantong Jianghai Steel Wire Rope Co. Ltd., Jiangsu Fasten Steel Cable Co. Ltd., Jiangsu Bright Industry Co. Ltd., Pfeifer Drako Drahtseilwerk GmbH, Bharat Wire Ropes Limited, Tianjin Metallurgical Cable Co. Ltd., Loos & Co. Inc.
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Top Trend - Innovative Advancements Enhance Steel Wire Rope And Plastic Rope Market Presence
Product innovations are a key trend gaining popularity in the steel wire rope and plastic rope market. Major companies in the market are introducing innovative products such as Marlow sustainable rope to sustain their position in the market. For instance, in February 2023, Marlow Ropes Ltd. an England-based manufacturer of specialty rope assemblies launched its sustainable rope line-up. The rope has characteristic features of previous products such as firmness with long elongation properties. The uniqueness of the product is that it is the world's first sustainably manufactured fast rope that is manufactured using recycled-based content (BCF RPA).
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Steel Wire Rope And Plastic Rope Market Characteristics
3. Steel Wire Rope And Plastic Rope Market Trends And Strategies
4. Steel Wire Rope And Plastic Rope Market - Macro Economic Scenario
5. Steel Wire Rope And Plastic Rope Market Size And Growth
…..
27. Steel Wire Rope And Plastic Rope Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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