The global synthetic fibre rope market size was USD 1.70 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data.
Synthetic ropes with high strength-to-weight ratio are one of the key factors driving the revenue growth of the market. Synthetic fibers are man-made fibers made from chemicals as an alternative to natural fibers and are used in synthetic ropes. High-performance synthetic ropes are marketed as one of the latest solutions to improve productivity and safety in the field for a variety of end-users, including mine operators. Studies show that synthetic ropes have 30-90% higher breaking strength than steel wire ropes, which also leads to high demand for synthetic ropes.
Also, the increasing demand for industrial ropes and the availability of synthetic fibers have increased the use of this product. These components are used in pulley systems to provide mechanical benefits and evenly distribute load weight. Therefore, they are often used for weighing payloads and materials in the construction sector. It is also used for transporting materials to various construction sites, including scaffolding. As an excellent alternative to steel wire rope, synthetic fiber rope offers many opportunities for revenue growth in the market.
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Companies profiled in the market report include WireCo WorldGroup, Cortland Limited, Bridon-Bekaert, Southern Ropes, Marlow Ropes, Teufelberger, Yale Cordage, LANEX a. s., Katradis Marine Ropes Ind. S.A, and Unirope Ltd.
Some Key Highlights from the Report
- Based on regional analysis, the synthetic fiber rope market in North America accounted for the largest revenue share in 2021. Increased research and development by various manufacturers to develop biodegradable synthetic fibers is expected to drive revenue growth of the market in this region. The Primaloft Bio Series is the first synthetic insulating fabric made from 100% recycled yarns and is highly biodegradable from US company Primaloft, a specialist in insulating textiles. This fiber is highly available for the production of biodegradable synthetic ropes which is expected to drive revenue growth for the market in this region.
- The Asia-Pacific market is expected to register steady growth in revenue during the forecast period. Developing countries in the region such as India and China are increasingly taking initiatives to develop new products in the region, which is expected to drive revenue growth of the market. For example, the Indian construction and infrastructure sector in particular has been transformed by the new generation of high quality polyfiber 3S launched by Jogani Reinforcement.
- On September 28, 2021, Permali designed and manufactured high-strength fiberglass reinforced composite supports, guardrails, deck safety net frames and ladder systems for Navy warships and support vessels. Permali's RD team has developed Permaglass XGR2/4, a new specialized Fire Resistant (FR) composite material that meets the latest UK Ministry of Defense (MoD) specifications.
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For the purpose of this report, Reports and Data has segmented the global synthetic fibre rope industry into Material Type Outlook, End-use Outlook, Regional Outlook:
Material Type Outlook (Revenue, USD Billion; 2019-2030)
- Polypropylene
- Polyester
- Nylon
- Specialty fibers
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Marine Fishing
- Oil Gas
- Industrial Construction
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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