Emerging Trends to Drive Steel Wire Rope And Plastic Rope Market Growth at 6.4% CAGR Through 2029

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Steel Wire Rope And Plastic Rope Market Size Growth Forecast: What to Expect by 2025?
In recent years, there has been significant growth in the market size of steel wire rope and plastic rope. The market is forecasted to expand from $14.1 billion in 2024 to $15.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.0%. The historical growth of this market is largely attributable to factors such as industrialization and the development of infrastructure, exploration of oil and gas, the expansion of the mining industry, shipping and maritime activities, and automotive manufacturing.

How Will the Steel Wire Rope And Plastic Rope Market Size Evolve and Grow by 2029?
The market for steel wire ropes and plastic ropes is projected to experience substantial growth in the coming years, escalating to "$19.3 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. The predominant factors driving growth during this forecast period are mounting environmental apprehensions, applications in the marine and aquaculture sectors, a penchant for lightweight materials, an increase in outdoor leisure pursuits, and agricultural and gardening activities. Noteworthy trends for the forecast period encompass diversification of materials, demand tailored to distinct industries, advancements in rope design, market proliferation in emerging regions, and emphasis on safety and conforming to regulations.

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What Drivers Are Propelling the Growth of Steel Wire Rope And Plastic Rope Market Forward?
The growth of the steel wire rope and plastic rope market is projected to be driven by the rising fishing profession and industry. This industry comprises the economic sector that focuses on the capturing, processing, marketing, and commercialization of fish and other marine resources, such as mollusks, seaweed, and crustaceans. Steel wire ropes and plastic ropes enjoy extensive use in the fishing sector to create nets due to their impressive strength and lifespan. In 2022, stats from the Food and Agriculture Organization of the United Nations, an institution based in Italy dedicated to addressing global hunger issues and enhancing food quality and safety, demonstrated that global fish production rose by 1.2% to hit 184.1 million tones, relative to 2018 figures. Aquaculture production saw an increase of 2.6%. Global earnings from fish trade witnessed a surge of 10.7% year-on-year, reaching USD 193.5 billion. Consequently, the growth of the fishing profession and industry serves as a driver for the expansion of the steel wire rope and plastic rope market.

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Which Emerging Trends Are Transforming the Steel Wire Rope And Plastic Rope Market in 2025?
Product advancements are becoming increasingly prevalent in the steel wire and plastic rope industry. Leading enterprises in this sector are launching a new wave of products including the Marlow sustainable rope to maintain their dominance. An example of this would be Marlow Ropes Ltd., a company located in England that produces specialized rope assemblies, that introduced its eco-friendly rope series in February 2023. This rope retains the core traits of the prior models such as durability and extensive elongation capabilities. However, what sets this product apart is its precedence as the globe's foremost eco-conscious fast rope, crafted from recycled content (BCF RPA).

What Are the Key Segments in the Steel Wire Rope And Plastic Rope Market?
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

Subsegments:
1) By Regular Lay: Right Regular Lay, Left Regular Lay
2) By Lang Lay: Right Lang Lay, Left Lang Lay

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Who Are the Key Players Shaping the Steel Wire Rope And Plastic Rope Market's Competitive Landscape?
Major companies operating in the steel wire rope and plastic rope market include 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.

What Geographic Markets Are Powering Growth in the Steel Wire Rope And Plastic Rope Market?
Asia-Pacific was the largest region in the steel wire rope and plastic rope market in 2024 and is expected to be the fastest-growing region in the global steel wire rope and plastic rope market report forecast period. The regions covered in the steel wire rope and plastic rope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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