The Global Synthetic Rope Market - Industry Analysis, Forecast, and Growth Opportunity.
The Global Synthetic
Rope Market: Highlights
Synthetic rope offers
many advantages over steel rope, such as higher corrosion resistance, fatigue
resistance, weather and chemical resistance, and light weighting. It is widely
preferred in the many industries, such as marine & fishing, mining, oil
& gas, building & construction, and sports industry. It has been
continuously gaining market acceptance over the last few decades by replacing
steel ropes. Synthetic rope is about one seventh of the weight of similar sized
wire rope.
The global syntheticrope market offers a healthy growth opportunity and is likely to experience
6.4% CAGR during the forecast period of 2016 to 2021. Marine & Fishing
segment is likely to remain the growth engine of the synthetic rope market
during the forecast period. Synthetic ropes provide excellent corrosion
and abrasion resistance and light weighting in the wide array of marine &
fishing applications, such as mooning lines, towing lines, hoisting lines.
Global Synthetic Rope
Market by Region:
North America is
expected to remain the largest market for synthetic rope in the next five
years. Excellent distribution network across North America region, high marine
& fishing activities, high offshore oil & gas activities are the prime
drivers of the North American synthetic rope market.
The key synthetic
rope manufactures are WireCo Worldgroup Inc., Cortland Limited, Marlow Ropes,
Samson Ropes Technologies, and Bridon International. New product development
and regional expansion are the key strategies adopted by the key players to
gain competitive edge in the market.
For more information, contact
Stratview Research
Email: sales@stratviewresearch.com
Direct: +1-313-307-4176
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