Synthetic Rope Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Ropes are made from natural and synthetic materials, or materials produced from metals such as steel. The raw material used for synthetic ropes is petrochemicals along with small amounts of polymeric materials. As compared to conventional ropes, synthetic ropes are more durable and lightweight. Nylon ropes are generally made from long extruded mono-filaments and are made water repellant by altering few of its properties.
Synthetic ropes are widely used in multiple crane applications, owing to properties such as bend fatigue durability, high strength-to-weight ratio, and robust spooling capabilities. The main advantage of using synthetic ropes over steel cables, is the reduced weight of synthetic material, which is of high prominence in applications such as cranes and other applications in the marine sector. Synthetic ropes provide neutral torque with no spinning, are quick and easy to install, and are easy on sheaves and boom top plates. They also provide minimum kinking and diving damage, corrosion resistance, same line pull and load chart as that of wire ropes, reduced wear effect on drums and sheaves, reduced bird caging and barber poling issues, no greasing required, and no popping of core or wire.
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Synthetic Rope Market Taxonomy
On the basis of type of material, the global market is classified into:
- Specialty fiber
On the basis of end-use industry, the global market is segmented into:
- Oil & Gas
- Marine and Fishing
Synthetic ropes are used in marine and fishing industries, owing to its light weight, reduced knocking up and making down time, easy handling, floating properties, along with no requirement for re-lubing. Polypropylene ropes offer numerous benefits such as excellent insulation capacity, floatable on water, resistant in chemically active environments, zero absorption. They also operate in high temperature ranging up to 80°C, and are available in variety of colors. Aramid rope is used as a substitute for steel cable, owing to characteristics such as lower weight and chemical resistance to rusting. Synthetic ropes are used in the transportation industry for binding purposes in transport by roads, sea or by air, whereas, in the oil & gas industry, it is used in drilling lines, anchor lines, marine riser tensioner lines, and tubing lines.
Synthetic Rope Market Outlook – Need for Waterproof and Durable Materials Expected to Boost Demand
Lightweight and high strength characteristics have helped rapidly increase consumption of synthetic ropes globally. Asia Pacific is expected to be the most potential market for elastomeric coating manufacturers. The market in the region is projected to witness relatively high growth, in terms of value, over the forecast period. Rapidly growing urbanization coupled with modern construction and infrastructural needs in emerging economies such as India and China, has propelled growth of the synthetic rope market in the region. According to IBEF, the Indian infrastructural industry is expected to reach total revenue of US$ 5 billion by 2020. India Brand Equity Foundation (IBEF) is a trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India, with the purpose of promoting and creating international awareness of goods manufactured in India.
Fluctuating prices of raw material is expected to be one of the restraining factors for growth of the synthetic rope market, over the forecast period. Business expansions in different geographies and new product development, are some strategies adopted by the top players in the synthetic rope market. In June 2016, Bridon International limited and Bekaert, collaborated to form The Bridon-Bekaert Ropes Group. This has increased the company’s reach to 17 countries and has added to the global reach and expertise of the company in the synthetic rope market. Some of the major companies operating in the global synthetic Rope Market are Samson Rope Technologies, Cortland Limited, WireCo World Group, Marlow Ropes, Cortland Limited, and Bridon International Limited.
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