The global rope market size to be valued at USD 2.69 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% during the forecast period. The market is majorly driven by huge application of ropes across the industrial sector. In addition, enhanced material innovation amplifies the ability of the product to handle heavy materials in the industrial sector, thereby resulting in growing popularity of various types of ropes. Another key growth enabling factor is ongoing trend related to high rise building across the globe. Major countries such as India and China are likely to witness significant growth in the investments in the high rise building construction projects, which is anticipated to result in the demand for elevators, thereby fueling the application of ropes.
With the expansion of the housing and commercial construction activities, the market is bound to witness growth in various utility applications, thereby contributing to the product demand. According to the Global Real Estate report published by HSBC, real estate was valued at USD 228 trillion in 2016, which grew by 5% from 2015. Growing need for new houses as a result of increasing population growth across regions is also expected to boost the market growth with respect to its application in the construction activities. According to the National Association of home Builders, the number of single-family permits in the U.S. has increased by 8.4% in 2018. Thus, these rising developments in the residential household category are expected to drive the need for the application of various types of ropes, thereby resulting in high product demand.
Moreover, rising displacement of hard fiber ropes with synthetic has advanced at a rapid scale in developed countries owing to the commercial utilization of polyolefin fiber. The industry faces a revolution of changes with the adoption of synthetic ropes. The market also witnesses replacement of traditional materials, such as steel wire and nylon. In addition, wide application of synthetic ropes in the maritime industry provides benefits in industrial operations. It provides benefits such as mooring, ship-assist, inland towing, and hoisting lines to exhibit properties of being stronger, lighter, floatable, and less susceptible to corrosion.
Among various types, steel wire rope is widely used for the purpose of lifting and hosting in applications and for transmission of mechanical power. “Housing for all by 2022” project in India will remain a primary driver of these types of ropes in the future. This will drive the execution of a series of government projects, which is further likely to provide an impetus to the construction and allied industries, rope market being one of them.
The global market's revenue growth is primarily driven by a wide range of industrial applications that is propelled by its capacity to control heavy materials as a result of improved material advancements. Furthermore, the increasing use of rope in the creation of high infrastructures particularly in China and India is a prominent driver that is expected to increase the industry's future market growth.
The increasing replacement of hard fiber ropes with synthetic ones, i.e., nylon is increasing product demand for this global market because of the commercial application of polyolefin fiber. Synthetic ropes are light, strong, and have lower corrosion susceptibility and floatability hence those are increasingly used in maritime industry operations, such as mooring, ship-assist, inland towing, and hoisting line applications. This is expected to have a positive impact on the revenue growth of the global market in the near future.
Petrochemicals based on synthetic fibers like polyester, nylon, polyethylene, aramids, polypropylene, and specialty fibers are used as raw materials for synthetic ropes. Because of qualities like high durability, high strength-to-weight ratio, high strength, and robust spinning capabilities, synthetic ropes are employed in a variety of applications. Price fluctuations in raw materials for synthetic rope is projected to hamper market growth.
The demand for lightweight, high-performance, cost-effective, and safer ropes for towlines, mooring lines, and lifting operations is growing as seaborne trade and cargo sizes expand. As a result, the significant increase in the shipping industry and seaborne trade will assist to drive demand for ropes.
In terms of revenue, synthetic ropes dominated the market with a share of almost 32.0% in 2019 and is expected to witness the fastest growth from 2020 to 2027. This is attributed to the superior properties associated with synthetic rope for industrial usage. Synthetic ropes are made from fibers that are man-made textiles, which are manufactured with the infusion of chemicals and are used as a substitute for natural fibers. Increasing demand for industrial rope has popularized the application of this product owing to the availability of synthetic fibers. These synthetically made ropes are used in the pulley system in order to create mechanical advantage to effectively spread the weight of loads. Therefore, these ropes are widely used in the construction industry in order to weigh down loads and materials. In addition, it is used for the purpose of transportation of items to different sites of working, such as scaffolding.
Synthetic rope also finds wider utility in the tree felling industry, wherein they are used for removing dead trees, roots, and stumps. The rope helps workers to scale the trees and bushes as well as exert safe movement around them. The product also witnesses increasing application in cranes on account of properties, such as bend fatigue durability, high strength-to-weight ratio, and robust spooling capabilities. The added advantage of synthetic ropes as compared to steel cables includes less weight, which makes it a prominent product in cranes and other marine sector applications.
In terms of revenue, the industrial segment dominated the market with a share of 45.5% in 2019 and is expected to witness the highest growth from 2020 to 2027. This is attributed to the wide usage of ropes across various industries, such as construction, marine and fishing, oil and gas, and mining. Among various types of ropes, synthetic ropes are used widely in the marine and fishing industry on account of their lightweight properties, reduction in knocking up and preparing for downtime, easy handling, floatable, and avoidance of re-lubing. These ropes assist with great insulation capacity, provide resistance in chemically affected environment, prevent absorption, and are made available in different forms and colors. Moreover, these products are used in the fishing industry as fishing nets and twines. These are used in trawling applications on account of better resistance to abrasion, high breaking strength, and high strength-to-weight ratio.
Growing number of commercial spaces such as outdoor cafes and restaurants, renovation projects, and trend of upgrading the outdoor space are expected to contribute to the segment growth. Ropes are witnessing huge application in the construction activities owing to corrosion resistant properties and ability to tolerate natural elements, such as UV rays, rain, snow, and high freezing temperature. Moreover, increasing application of nylon materials in the construction industry is positively impacting the demand for synthetic ropes. These braided or twisted wires provide extreme versatility for strongest option of rope, which provides more balance and does not crook while use in construction business.
The Asia Pacific dominated the market with a share of 43.9% in 2019 and is expected to witness the fastest growth from 2020 to 2027. This is attributed to rapidly expanding commercial and residential construction activities that drive the utility of waterproof and durable ropes with lightweight and high strength. Rapid growth of the construction industry as a result of growing urbanization in emerging countries, such as China and India, has widened the scope of the market. In addition, rising infrastructural needs in emerging economies are driving the demand for synthetic ropes. According to the IBEF, the infrastructure industry in India is expected to reach USD 5 billion by the year 2020. Therefore, the region witnesses the highest application of synthetic ropes across various industries, particularly construction industry.
North America and Europe are anticipated to witness substantial growth over the forecast period. Growing marine and fishing businesses across European countries is expected to result in a surge in the demand for synthetic ropes over the forecast period. Moreover, products pertaining to high tensile strength as well as longer durability have managed to replace steel wires in many forms and applications. Therefore, synthetic ropes are a prime choice of rope in the construction, marine, and oil and gas industries. In North America, U.S. accounted for more than 80.0% share of the overall revenue. Rebound in the housing market after the recession in 2008 and growing number of renovation projects in the region will boost the demand further.
The global market has been characterized by intense competition due to the presence of a large number of domestic and international players, thus resulting in a fragmented market. Few companies have been focusing on serving the industrial sector to gain a competitive edge in the industry by catering to the large consumer base. Companies such as Samson Rope Technologies, Yale Cordage’s, and Pelican Rope Works have been focusing on catering to the industrial demand starting from aerospace, marine, mining, safety, arborist, marine, fishing, off road, and general cordage to rescue and forestry applications with a wide range of product variants, such as Nylon, Polyester, Polypro, Spectra, Dyneema, and Kevlar ropes.
In June 2022, Bridon-Bekaert Ropes Group (BBRG) started offering Dyform 36LR PI+, multi-layer construction, high-performance, compacted, rope with a designed extruded plastic that distributes between the rope core and the 18 outside strands. Dyform 36LR PI+, which is ideal for foundation making equipment and marine deck cranes is now accessible globally.
In April 2022, WireCo, the world's leading producer of synthetic rope, electromechanical cable, mission-critical wire rope, and netting launched a new brand. Fishing, mining, energy, maritime, and industrial lifting are just a few examples where WireCo's products are used.
Some of the prominent players in the rope market include:
WireCo WorldGroup
Cortland Limited
Bridon-Bekaert
Southern Ropes
MAGENTO, INC.
Yale Cordage
LANEX a.s.
Katradis Marine Ropes Ind. S.A.
Dynamica Ropes
Marlow Ropes Ltd
Van Beelen Industrie en Handel B.V.
Report Attribute |
Details |
Market size value in 2020 |
USD 1.52 billion |
Revenue forecast in 2027 |
USD 2.69 billion |
Growth Rate |
CAGR of 8.5% from 2020 to 2027 |
Base year for estimation |
2019 |
Historical data |
2016 - 2018 |
Forecast period |
2020 - 2027 |
Quantitative units |
Revenue in USD million and CAGR from 2020 to 2027 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, end user, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; MEA |
Country scope |
U.S.; U.K.; Germany; China; India; Brazil; South Africa |
Key companies profiled |
WireCo WorldGroup; Cortland Limited; Bridon-Bekaert; Southern Ropes; MAGENTO, INC.; Yale Cordage; LANEX a.s.; Katradis Marine Ropes Ind. S.A.; Dynamica Ropes; Marlow Ropes Ltd.; Van Beelen Industrie en Handel B.V. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global rope market report on the basis of product, end user, and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Synthetic
Steel
Cotton
Others
End-user Outlook (Revenue, USD Million, 2016 - 2027)
Residential
Commercial
Industrial
Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa
South Africa
b. The rope market size was estimated at USD 1,403.4 million in 2019 and is expected to reach USD 1,517.3 million in 2020.
b. The rope market is expected to grow at a compound annual growth rate of 8.5% from 2020 to 2027 to reach USD 2,689.7 million by 2027.
b. Asia Pacific region dominated the rope market with a share of 43.9% in 2019. This is attributable to the rapidly expanding commercial and residential construction activities rapidly expanding commercial and residential construction activities.
b. Some key players operating in the rope market include WireCo WorldGroup, Cortland Limited, Bridon-Bekaert, Southern Ropes, MAGENTO, INC., TEUFELBERGER, Yale Cordage, LANEX a.s. Katradis Marine Ropes Ind. S.A., Dynamica Ropes, Marlow Ropes Ltd.and Van Beelen Industrie en Handel B.V. to name a few.
b. Key factors that are driving the market growth include huge applications across the industrial sector such as construction, oil & gas, marine & fishing, enhanced material innovation enhancing the product attributes.
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