Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for energy industry professionals · Thursday, March 28, 2024 · 699,487,219 Articles · 3+ Million Readers

Global $14.5Bn Steel Wire Rope & Plastic Rope Market Outlook, 2019-2024 - Polypropylene Material Type Will Account for the Largest Share

/EIN News/ -- Dublin, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The "Steel Wire Rope & Plastic Rope Market by Type of Lay (Regular Lay, Lang Lay), Material Type (PP, PET, Nylon, HMPE, Specialty Fibers), Application (Marine & Fishing, Sports & Leisure, Oil & Gas, Industrial & Crane) & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Steel Wire Rope & Plastic Rope Market is expected to grow from US$ 11.3 billion in 2019 to US$ 14.5 billion by 2024, at a CAGR of 5%.

The key players in the market include WireCo WorldGroup Inc. (US), Bekaert SA (Belgium), Tuefelberger Holding AG (Austria), Cortland Limited (US), DSR (South Korea), Samson Rope (US), Usha Martin (India), Samson Ropes Technologies Inc. (US), Jiangsu Langshan (China), and Marlow Ropes Ltd. (UK). The strategies undertaken by these market players include new product development, expansion, agreement, and acquisition.

The steel wire rope & plastic rope market is projected to register a CAGR of 5% during the forecast period

New product launches leading to an increased application scope of steel wire rope & plastic rope as well as the growing usage of these products across various end-use industries, including industrial & crane, marine & fishing, construction, and mining are expected to augment the market growth. However, the lack of awareness among the end-use industries about the use of steel wire ropes & plastic ropes is the primary factor restraining the growth of the market.

Crane is the fastest-growing end-use industry of plastic rope, in terms of value

Steel wire rope & plastic rope is gaining importance in the automotive end-use industry. Cranes are relatively an unexplored segment for the market and are projected to register a high CAGR. In the case of cranes, the weight of the rope can form a large part of the whole machine. Therefore, reduction in the weight of rope provides massive benefits, in terms of stability and significant savings in reducing axle loads.

The plastic ropes used in cranes can withstand tough environment during the handling, installation, and maintenance operations. The plastic ropes for mobile cranes are replacing the steel ropes at a rapid pace, as they increase the lifting efficiency, provide extended rope life, and lower the maintenance cost.

The polypropylene segment accounted for a major share of the plastic rope market, in terms of value, during the forecast period

The global plastic rope market is projected to be dominated by the polypropylene segment, in terms of both value and volume during the forecast period. Polypropylene is used on a large scale in manufacturing ropes for marine & fishing industry due to its high strength properties. As it is light in weight, it floats in water. It is found in multifilament fiber form, similar to but slightly thicker than polyester and nylon. It is sometimes found as thicker monofilament resembling straw or bristles, typically 0.1 mm to 0.15 mm diameter. Polypropylene is reasonably economical as compared to HMPE or polyester. It has excellent chemical resistance and is preferred in water-related applications as these float in water.

APAC is the largest and the fastest-growing steel wire rope & plastic rope market

The European region is projected to be the fastest-growing steel wire rope & plastic rope market. This is attributed to the increase in demand for steel wire rope & plastic ropes from marine & fishing, construction, mining, and other industries. Asia-Pacific is one of the key markets for steel wire ropes with a large scope for growth in construction, fishing, and mining sectors. The offshore mooring industry in Australia, Malaysia, and China is expected to drive the steel wire rope & plastic ropes market growth during the forecast period.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Steel Wire Ropes & Plastic Ropes Market
4.2 Steel Wire Ropes Market, By Type of Lay
4.3 Plastic Ropes Market, By Material Type
4.4 Steel Wire Ropes & Plastic Ropes Market, By Region and Application
4.5 Global Plastic Ropes Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Strength and Low Weight of Plastic Ropes
5.2.1.2 Safety Aspects of Plastic Ropes
5.2.1.3 Infrastructural Development, Increased Industrial Activity, and Growth in the Mining Industry
5.2.2 Restraints
5.2.2.1 High Cost of Raw Materials and Frequent Preventive Maintenance of Plastic Ropes
5.2.3 Opportunities
5.2.3.1 Plastic Ropes as A Better Alternative to Steel Wire Ropes
5.2.3.2 Growing Fishing and Mining Sectors in APAC
5.2.4 Challenges
5.2.4.1 Lack of Awareness About the Advantages of the Use of Plastic Ropes
5.2.4.2 Corrosion of Steel Wire Ropes
5.3 Porter's Five Forces Analysis

6 Steel Wire Ropes & Plastic Ropes Market, By Type
6.1 Introduction
6.2 Steel Wire Ropes Market, By Type of Lay
6.2.1 Introduction
6.2.2 Regular Lay
6.2.2.1 Regular Lay Ropes are Used in A Wide Range of Applications, Starting From Industrial to Fishing & Marine
6.2.3 Lang Lay
6.2.3.1 Lang Lay Ropes Have Higher Flexibility and Abrasion Resistance Than Regular Lay Ropes
6.3 Plastic Ropes Market, By Material Type
6.3.1 Introduction
6.3.2 Polypropylene
6.3.2.1 Polypropylene Ropes, Slightly Thicker Than Polyester and Nylon Ones, Have Good Chemical Resistance
6.3.3 Polyester
6.3.3.1 Polyester Ropes, Unlike Nylon Ropes, Retain their Strength When Exposed to Moisture
6.3.4 Nylon
6.3.4.1 Nylon Ropes are Widely Used as Towing Lines as they Have Good Elastic Properties
6.3.5 HMPE
6.3.5.1 HMPE Ropes are Suitable for Use in Marine & Fishing Application as they Float in Water
6.3.6 Specialty Fibers
6.3.6.1 Specialty Fiber Ropes are Finding Application in Various End-Use Industries

7 Steel Wire Ropes & Plastic Ropes Market, By Application
7.1 Introduction
7.2 Steel Wire Ropes Market, By Application
7.2.1 Introduction
7.2.2 Industrial & Crane
7.2.2.1 Steel Wire Ropes are Used in the Industrial & Crane Application as they Provide Resistance to Rotation, Abrasion, and Corrosion
7.2.3 Mining
7.2.3.1 Steel Wire Ropes are Used in This Application Due to their High Tensile Strength and Breaking Load
7.2.4 Oil & Gas
7.2.4.1 High Strength Steel Wire Ropes are Used for Oil & Gas Applications to Comply With the Safety Standards
7.2.5 Construction
7.2.5.1 The Growth in Construction Activities in APAC is Increasing the Demand for Steel Wire Ropes in This Application
7.2.6 Marine & Fishing
7.2.6.1 Steel Wire Ropes Ensure High Breaking Strength in Marine & Fishing Applications
7.2.7 Others
7.3 Plastic Ropes Market, By Application
7.3.1 Introduction
7.3.2 Marine & Fishing
7.3.2.1 Low Weight, High Strength, and Abrasion Resistance Properties of Plastic Ropes are Helpful in Marine & Fishing Applications
7.3.3 Oil & Gas
7.3.3.1 Polyester and HMPE Ropes are Used Widely in Oil & Gas Applications
7.3.4 Sports & Leisure
7.3.4.1 Fitness Ropes, Parachute Cords, and Camping Ropes are Among the Different Types of Plastic Ropes Used in the Sports & Leisure Application
7.3.5 Crane
7.3.5.1 Plastic Ropes are Able to Withstand Extreme Environmental Conditions, Which is Why they are Used in Crane Applications
7.3.6 Others

8 Steel Wire Ropes & Plastic Ropes Market, By Region
8.1 Introduction
8.2 APAC: Steel Wire Ropes Market
8.2.1 China
8.2.1.1 Increase in Urban Population is Expected to Influence the Market Indirectly
8.2.2 Japan
8.2.2.1 Investment in the Transportation Sector is Likely to Propel the Demand for Steel Wire Ropes
8.2.3 South Korea
8.2.3.1 Government Efforts to Boost the Manufacturing Sector is A Major Driver for the Market During the Forecast Period
8.2.4 India
8.2.4.1 Improved Infrastructure and Increased Manufacturing Activities are Influencing the Market Positively
8.2.5 Rest of APAC
8.3 APAC: Plastic Ropes Market
8.3.1 China
8.3.1.1 New Offshore Oil & Gas Discoveries are Likely to Help the Market Grow in the Near Future
8.3.2 Japan
8.3.2.1 as an Important Part of the Country's Economy, the Marine & Fishing Sector is Impacting the Market Positively
8.3.3 South Korea
8.3.3.1 The Construction Sector Generates High Demand for Plastic Ropes in the Country
8.3.4 India
8.3.4.1 Growth in Aquaculture is Promising for the Plastic Ropes Market in the Country
8.3.5 Rest of APAC
8.4 North America: Steel Wire Ropes Market
8.4.1 US
8.4.1.1 The Presence of A Prominent Oil & Gas Industry is A Major Driver for the Market
8.4.2 Canada
8.4.2.1 The Consumption of Steel Wire Ropes in the Country is High Due to Large-Scale Mining Activities
8.5 North America: Plastic Ropes Market
8.5.1 US
8.5.1.1 Fishing, Crane, and Construction are the Applications That are Expected to Drive the Market in the Country
8.5.2 Canada
8.5.2.1 Collaboration Between Government and the Marine Sector Associations has Led to the Growth of the Marine Sector in the Country, thereby Driving the Market
8.6 Europe: Steel Wire Ropes Market
8.6.1 Germany
8.6.1.1 The Presence of Well-Known Crane and Elevator Brands is Supporting Market Development in the Country
8.6.2 France
8.6.2.1 The Market for Steel Wire Ropes is Likely to Be Driven By the Demand for Superyachts
8.6.3 UK
8.6.3.1 Large Base of Construction and Oil & Gas Industries is Fueling the Market in the UK
8.6.4 Italy
8.6.4.1 Growth of Oil & Gas and Mining Sectors are Expected to Boost the Market
8.6.5 Spain
8.6.5.1 High Consumption of Gasoline is Affecting the Steel Wire Ropes Market Positively in the Country
8.6.6 Rest of Europe
8.7 Europe: Plastic Ropes Market
8.7.1 Germany
8.7.1.1 Germany is the Most Significant Market for Plastic Ropes in the Region Due to the Presence of Major Market Players in the Country
8.7.2 UK
8.7.2.1 Strict Regulations in the Country's Oil & Gas Sector are Contributing to the Demand for Plastic Ropes
8.7.3 Norway
8.7.3.1 as the Most Diversified Maritime Country in the Region, Norway is A Promising Market for Plastic Ropes in the Marine Segment
8.7.4 Italy
8.7.4.1 With Increased Consumer Awareness, the Use of Plastic Ropes is Gaining Momentum in the Country
8.7.5 Rest of Europe
8.8 Middle East & Africa (MEA): Steel Wire Ropes Market
8.8.1 Uae
8.8.1.1 The Country Offers A Favorable Business Environment, Which is Supporting the Steel Wire Ropes Market
8.8.2 South Africa
8.8.2.1 as A Diversified Economy, South Africa Offers Lucrative Opportunities for the Market
8.8.3 Saudi Arabia
8.8.3.1 Saudi Arabia is the Largest Exporter of Petroleum, Which Creates Huge Growth Potential for the Steel Wire Ropes Market
8.8.4 Rest of MEA
8.9 Middle East & Africa (MEA): Plastic Ropes Market
8.9.1 Uae
8.9.1.1 Plastic Ropes are Widely Used in Oil & Gas Applications in the Country
8.9.2 South Africa
8.9.2.1 The Growing Economy of South Africa is Helping in the Growth of the Market
8.9.3 Saudi Arabia
8.9.3.1 The Presence of Oil and Petroleum Reserves is Boosting the Market
8.9.4 Rest of MEA
8.1 Latin America: Steel Wire Ropes Market
8.10.1 Brazil
8.10.1.1 The Healthy Economic Growth of the Country is Promising for the Steel Wire Ropes Market
8.10.2 Mexico
8.10.2.1 The Use of Steel Wire Ropes is Extensive in the Offshore Oil & Gas Facilities in the Gulf of Mexico
8.10.3 Rest of Latin America
8.11 Latin America: Plastic Ropes Market
8.11.1 Brazil
8.11.1.1 The Country's Mining Sector Provides Growth Opportunities for the Plastic Ropes Market
8.11.2 Mexico
8.11.2.1 Apart From Oil & Gas, the Marine Sector Also Contributes to the Growth of the Market
8.11.3 Rest of Latin America

9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping
9.2.1 Dynamic Differentiators
9.2.2 Innovators
9.2.3 Visionary Leaders
9.2.4 Emerging Companies
9.3 Competitive Benchmarking
9.3.1 Strength of Product Portfolio
9.3.2 Business Strategy Excellence
9.4 Market Ranking of Key Players, 2018
9.5 Competitive Situation & Trends
9.5.1 New Product Development
9.5.2 Expansion
9.5.3 Merger & Acquisition
9.5.4 Agreement & Partnership

10 Company Profiles
10.1 Cortland Limited
10.2 Wireco Worldgroup Inc.
10.3 Samson Rope Technologies Inc.
10.4 Southern Ropes
10.5 English Braids Ltd.
10.6 Marlow Ropes Ltd.
10.7 Teufelberger Holding AG
10.8 Bekaert S.A.
10.9 Jiangsu Langshan
10.10 Usha Martin
10.11 Other Players
10.11.1 Yale Cordage Inc.
10.11.2 Lanex A.S.
10.11.3 Novatec Braids, Ltd.
10.11.4 Bexco NV S.A.
10.11.5 Katradis Marine Ropes Ind. S.A.
10.11.6 DSR
10.11.7 Kiswire
10.11.8 Tokyo Rope
10.11.9 Gustav Wolf
10.11.10 Pfeifer

For more information about this report visit https://www.researchandmarkets.com/r/ub0gbz

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

                    CONTACT: ResearchAndMarkets.com
                             Laura Wood, Senior Press Manager
                             press@researchandmarkets.com
                             For E.S.T Office Hours Call 1-917-300-0470
                             For U.S./CAN Toll Free Call 1-800-526-8630
                             For GMT Office Hours Call +353-1-416-8900
                    

Primary Logo

Powered by EIN News
Distribution channels: Culture, Society & Lifestyle, Science


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release