Synthetic ropes are made from materials such as nylon, polyethylene and other specialty fibers. Synthetic ropes are increasingly being adapted for a number of applications owing to its distinguishing characteristics when compared to the steel rope such as synthetic ropes are made from lightweight material, easier to handle and are corrosion free. Ropes with advanced properties are being introduced in the market for specific applications and working environmental conditions.
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Floatable ropes are increasingly being used for marine and other applications. Additionally, ultraviolent rays stabilized ropes are being used for hot weather condition to minimize the decay up to 25%. There has been significant improvement in the elasticity and shock absorption capacity of ropes. Ropes with good abrasion and chemical resistance are also a preferred choice in case of many industrial and commercial applications. The industry is experiencing a rise in demand for synthetic ropes.
Global Synthetic Rope Market: Dynamics
The global synthetic rope market is driven by the numerous benefits as compared to steel ropes such as synthetic rope are much lighter in weight, high tensile strength, flexibility and improved performance. Moreover, synthetic rope are easier to handle as compared to steel ropes. Synthetic ropes for specialized applications such as floatable (marine and other water applications), high temperature resistivity and UV stabilization (hot weather conditions) are being made to improve efficiency in the respective environmental conditions. Thus driving the global synthetic rope market.
With the rapidly growing end use industries such as construction and infrastructural development in Asia Pacific, oil and gas industry in North America, which are the major end use sectors for rope the overall global demand for synthetic ropes is expected to grow at a significant pace.One of the major challenge faced by the global synthetic rope manufacturers is the high cost of raw materials used for the manufacture of synthetic rope.
Additionally, frequent maintenance associated with synthetic rope is another major issue impacting the global demand for synthetic rope.Product innovation focusing on improving the strength of ropes and application area is also a major trend in the synthetic rope market. Manufacturers are focusing on the development of link chains made from synthetic fiber in order to improve the strength and efficiency of synthetic ropes that can withstand higher load. As a part of the business strategy, the manufacturers are focusing on the expansion of footprints in the developing regions where there has been a greater demand for synthetic ropes
Asia Pacific region is projected to hold a relatively higher share in the global synthetic rope market owing to the growing construction industry and infrastructural developments in the region. North America is also projected to hold significant share in the global synthetic rope market. This is attributed to the increasing drilling activities and development of oil and gas industry.
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Europe is anticipated to show an increase in demand for synthetic rope due to increasing sports and leisure activities and establishment of entertainment and theme parks. Latin America is projected to expand at a moderate rate over the forecast period. Other regions such as Middle East and Africa and Japan are projected to showcase a relatively low demand for synthetic ropes.
Global Synthetic Rope Market: Market Participants
Examples of some of the market participants, identified across the value chain in the global Synthetic Rope market are:
WireCo World Group, Samson Rope Technologies, Inc, Cortland Limited, Bridon International Ltd, Marlow Ropes, USA Rope and Recovery, Bristol Rope & Twine, FibreMax, Gulf Rope and Plastic Products Co. L.L.C.