Synthetic Rope Market - Global Industry Analysis 2024

Ropes are made from natural, synthetic, and also from metals such as steel. The raw material for synthetic ropes is petrochemicals along with small amounts of polymeric materials. As compared to conventional ropes, synthetic ropes are more durable and lightweight. Nylon rope is generally made from long extruded mono-filament and can be made water repellant by altering few properties.

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Synthetic ropes are widely used for cranes, owing to properties such as bend fatigue durability, high strength-to-weight ratio, and robust spooling capabilities. The main advantage of synthetic ropes over steel cables is reduced weight, which is of high prominence in applications such as cranes and other applications in the marine sector. Other benefits include torque neutral, easy on sheaves and boom top plates, quick and easy installation no spinning, minimum kinking and diving damage, corrosion resistance, same line pull and load chart as that of wire rope, reduced wear effect on drums and sheaves, reduced 'bird caging' and 'barber poling' issues, no greasing required, and no popped core or wire.

Synthetic Rope Market Taxonomy

On the basis of type of material, the global market is classified into:

Polyethylene
Nylon
Polyester
Specialty fiber
Polypropylene

On the basis of end-use industry, the global market is segmented into:

Construction
Oil & Gas
Marine and Fishing
Sports
Cranes
Transportation

In marine and fishing industries, synthetic ropes are widely used owing to lightweight properties, reduced knocking up and making down time, easy handling, floating nature and no re-lubing is required. Polypropylene ropes offer numerous benefits such as excellent insulation capacity, floatable on water, resistant in chemically active environments, zero absorption, and operating temperature range of up to 80°C, and is available in variety of colors. Aramid rope is used as a substitute for steel cable, owing to characteristics such as lower weight and chemical resistance to rusting. In transportation industry, synthetic ropes are used for binding purpose in transport by roads, sea or by air. In oil & gas industry, synthetic ropes are used in drilling lines, anchor lines, marine riser tensioner lines, and tubing lines.

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Synthetic Rope Market Outlook – Need for Waterproof and Durable Materials Expected to Boost Demand

Lightweight and high strength characteristics has rapidly increased consumption of synthetic ropes globally. Asia Pacific is expected to be the most potential market for elastomeric coating manufacturers. The market in the region is projected to witness relatively high growth in terms of value over the forecast period. Rapidly growing urbanization coupled with modern construction and infrastructural needs in emerging economies such as India and China has propelled the growth of synthetic rope market in the region. According to IBEF, the Indian Infrastructural industry is expected to reach total revenue of US$ 5 billion by 2020. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.

Fluctuating prices of raw material is expected to be one of the restraining factors for growth of synthetic rope market over the forecast period. Business expansions in different geographies and product are few strategies adopted by the top players in the synthetic rope market. In June 2016, Bridon International limited and Bekaert collaborated to form The Bridon-Bekaert Ropes Group. This has increased the company’s reach to 17 countries and has added to the global reach and expertise of the company in the synthetic rope market. Some of the major companies operating in the global elastomeric coating market are Samson Rope Technologies, Cortland Limited, WireCo World Group, Marlow Ropes, Cortland Limited, and Bridon International Limited.

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This release was published on openPR.