Increase in demand for fish-products, surge in seaborne trade activities, and rise in size of cargos drive the growth in the global synthetic rope market. Based on regions, Europe is estimated to grow at the fastest CAGR of 7.1% from 2017 to 2025, owing to rise in usage of synthetic ropes across various countries including Germany, France, Italy, the U.K., and Russia.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The global synthetic rope market garnered $1.33 billion in 2017 and is estimated to reach $2.18 billion by 2025, growing at a CAGR of 6.3% from 2018 to 2025.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The specialty fibers segment contributed for around one-third of the total market share in 2017 and is estimated to maintain its lead position during the forecast period. This is owing to its characteristics including electrical resistivity, thermal conductivity, and chemical or fuel resistance. However, the polyester segment would grow at the highest CAGR of 7.3% from 2017 to 2025, owing to its characteristics of being as resilient as nylon ropes and superior resistance offered to ultraviolet rays and heat. The research also provides insights on nylon, polypropylene, and polyethylene.
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The Synthetic rope market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Europe is estimated to grow at the fastest CAGR of 7.1% from 2017 to 2025, owing to rise in usage of synthetic ropes across various countries including Germany, France, Italy, the U.K., and Russia. However, North America accounted for the largest market share in 2017, contributing to more than one-third of the total market share, owing to rise in oil & gas production and increase in exploration activities. The research also analyzes the regions including Asia-Pacific and Latin America, Middle East and Africa (LAMEA).
Synthetic Rope Companies Covered Market:- Actuant Corporation, Atlantic Braids Ltd, Bridon-Bekaert Ropes Group, Bexco NV-SA, English Braids Ltd, Responsive Industries Ltd, Southern Ropes, Teufelberger, Touwfabriek Langman B.V. and Other.
Analysis of COVID-19 impact:
The outbreak of the pandemic has had a massive impact on the majority of industries and the Synthetic rope market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Synthetic rope market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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