Rising Fishing Industry Drives Demand For Steel Wire Rope And Plastic Rope Market: Powering Innovation and Expansion in the Steel Wire Rope And Plastic Rope Market by 2025

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What Is the Expected CAGR for the Steel Wire Rope And Plastic Rope Market Through 2025?
The steel wire rope and plastic rope market has expanded significantly in recent years. It will rise from $14.1 billion in 2024 to $14.96 billion in 2025, reflecting a CAGR of 6.1%.

What's the Projected Size of the Global Steel Wire Rope And Plastic Rope Market by 2029?
The market size for steel wire rope and plastic rope is predicted to show robust expansion in the coming years. It is projected to surge to $19.13 billion by 2029, expanding at a compound annual growth rate (CAGR) of 6.3%. The estimated growth during the forecasting timeframe is believed to be driven by factors such as increasing environmental consciousness, usage in marine and aquaculture industries, favoring of more lightweight materials, the growth of outdoor recreational activities, as well as agricultural and gardening practices. Lead trends through the forecast period include diversification of materials, demand specialized by industry, innovation in the design of ropes, market growth in emerging regions, and an emphasis on safety and regulatory compliance.

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Top Growth Drivers in the Steel Wire Rope And Plastic Rope Industry: What's Accelerating the Market?
The expansion of the fishing profession and industry is anticipated to drive the steel wire rope and plastic rope market growth. The fishing industry pertains to the economic sector responsible for capturing, processing, marketing, and sale of not just fish but also other marine life, including crustaceans, mollusks, and seaweed. In this industry, steel wire ropes and plastic ropes are commonly used to construct fishing nets due to their superior strength and longevity. For example, data from the Food and Agriculture Organization of the United Nations, a Italy-based entity committed to resolving world hunger and enhancing food quality and security, showed that in 2022, the global fish production rose by 1.2% to 184.1 million tones compared to 2018. Furthermore, there was a 2.6% increase in aquaculture output. The global revenue from fish trade also saw a 10.7% year-on-year increase, amounting to USD 193.5 billion. Therefore, this escalation in fishing professions and the industry as a whole is fueling the growth of the steel wire rope and plastic rope market.

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What Trends Will Shape the Steel Wire Rope And Plastic Rope Market Through 2029 and Beyond?
Increasing product innovation is a significant trend being seen in the steel wire rope and plastic rope market. Leading players in the industry are launching new and innovative products such as the Marlow sustainable rope in order to maintain their hold in the market. For example, Marlow Ropes Ltd, a specialty rope manufacturer based in England, introduced its sustainable rope line in February 2023. The sustainable rope has all the winning features of past products, such as durability and long elongation properties. The product's standout feature is its status as the first sustainable fast rope in the world, made using recycled-based content (BCF RPA).

What Are the Main 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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Which Top Companies are Driving Growth in the Steel Wire Rope And Plastic Rope Market?
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.

Which Regions Will Dominate the Steel Wire Rope And Plastic Rope Market Through 2029?
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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