Global Plastic Rope Market Size, Drivers, Trends And Competitors 2024-2032

Plastic Rope Market Size And Forecast

Plastic Rope Market size was valued at USD 2.67 Billion in 2024 and is projected to reach USD 4.3 Billion by 2031, growing at a CAGR of 7.13 % during the forecast period 2024-2031.

The increased demand from the marine and fishing industry owing to the adoption in boat lines and sailing applications as plastic ropes offer durability, good strength, water resistance, and reasonable prices will foster the growth of the Plastic Rope Market. The Global Plastic Rope Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Plastic Rope Market Definition

The rope is formulated by laying, twine is used to make rope, and twine is formed by spun of fibers. The ends of plastic ropes are generally melted and fused solid. The demand for plastic rope changes according to the size of the rope and its application. Plastic ropes are utilized in various industries such as the defense industry, shipping & marine industry, navy, petroleum Industry, port trust, and dock-yards, paper plants, electricity boards, sugar mill, railways and agriculture, and transport industry. Plastic ropes offer different product types such as PP, PET, Nylon, HMPE, and Specialty Fibers. Due to the wide range of applications Plastic Rope Market finds lucrative opportunities in upcoming years.

Global Plastic Rope Market Overview

The increased demand from the marine and fishing industry owing to the adoption in boat lines and sailing applications as plastic ropes offer durability, good strength, water resistance, and reasonable prices will foster the growth of the Plastic Rope Market. Also, due to added advantages of plastic ropes, are preferred over cotton, jute, sisal fiber, and manila fiber ropes among various industrial applications. Polyester rope a type of plastic rope possesses some additional properties such as UV resistance, low stretch, and low creep.

Therefore widely adopted for various applications led to creating the potential for the Plastic Rope Market in the upcoming years. Advancements in the manufacturing of plastic ropes coupled with research and development in material science owing to the improvement in the raw material properties have helped the market. Thus aforementioned factors are expected to drive the Plastic Rope Market over the forecasted period.

There are certain restraints and challenges faced which will hinder the market growth. One of the major restraints is the requirement of high maintenance costs. Also, advanced raw materials are required for the production of plastic ropes. These factors might hamper the growth of the Plastic Rope Market up to a certain extent during the forecasted period.

Global Plastic Rope Market: Segmentation Analysis

The Global Plastic Rope Market is segmented on the basis of Product, Application, and Geography.

Plastic Rope Market, By Product

• PP
• PET
• Nylon
• HMPE
• Specialty Fibers

Based on Product, the market is bifurcated into PP, PET, Nylon, HMPE, and Specialty Fibers. The PP segment held the major market share and is expected to grow at a significant CAGR. The factors can be attributed to the increased use of PP ropes in the marine & fishing industry, as PP is one of the most common materials used in the marine field.

Plastic Rope Market, By Application

• Marine & Fishing
• Sports & Leisure
• Oil & Gas
• Industrial & Crane

Based on Application, the market is bifurcated into Marine & Fishing, Sports & Leisure, Oil & Gas, and Industrial & Crane. The Marine and Fishing segment is anticipated to have a significant CAGR in the forecast period. The factors can be attributed to the beneficiary advantages of plastic ropes such as water resistance, strength, lightweight, and long life.

Plastic Rope Market, By Geography

• North America
•  Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Plastic Rope Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The largest share in the market will be dominated by the Asia Pacific region. The rising demand for plastic ropes from marine & fishing, mining, construction, and other industries across the region is expected to drive market growth in the upcoming years. China will hold the major market share in the region over the forecasted period.

Key Players

The “Global Plastic Rope Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are WireCo WorldGroup Inc., Bekaert SA, Tuefelberger Holding AG, Cortland Limited, DSR, Samson Rope, Usha Martin, Jiangsu Langshan, Marlow Ropes Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Mergers and Acquisitions

• In December 2018, Bekaert and Ontario Teachers’ Pension Plan agreed to merge Bekaert’s ropes and advanced cords businesses with Bridon. Bekaert now holds a 67% equity share, and Ontario Teachers’ the remaining 33%. The merger leverages the scale and complementary strengths of Bekaert and Bridon and pursues value creation for their customers. While, Bekaert is contributing its advanced cords business and the presence of a well-established rope in Latin America, Australia, and Canada. On the other hand, Bridon holds strong positions in Europe and the USA with a portfolio of rope wire, steel, and strand and synthetic ropes. The merger further creates opportunities for further growth in Asia.

• In February 2022, Bridon-Bekaert Ropes Group announced the acquisition of VisionTek Engineering Srl as an important strategic step in extending customer service offerings. BBRG’s ‘Ropes 360′ services provide complete solutions and support to maximize the ropes’ lifetime and monitor their integrity when in use. The acquisition will extend the digital capabilities and benefits of the service offering of BBRG.

• In July 2020, Yale Cordage, a longstanding leader in synthetic rope and cable solutions, was acquired and recapitalized by River Associates Investments LP, alongside Yale management.

Report Scope

Research Methodology of Market Research:

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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