What is the global market size of Rope Market?

Rope Market size was valued at USD 1.65 billion in 2021 and is poised to grow from USD 1.79 billion in 2022 to USD 3.22 billion by 2030, at a CAGR of 8.7% during the forecast period (2023-2030).

Global Rope Market Size, Share, Growth Analysis, By Product(Synthetic, Steel), By End User(Residential, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG20I2086 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 64 | Figures: 76

Global Rope Market Regional Insights

Asia Pacific dominated the global market. This is attributable to the quickly growing commercial and residential construction industries, which promote the use of strong, lightweight, waterproof ropes. The rising infrastructure demands in emerging economies are another factor driving the demand for synthetic ropes. The IBEF predicts that the infrastructure market in India will increase to $5 billion. Because of this, the region uses synthetic ropes most frequently across a number of industries, particularly the construction sector.

The North America market is expected to grow at the fastest CAGR. Alternatives have replaced steel wires with great tensile strength and extended endurance in many shapes and uses. Hence, synthetic ropes are a top choice in the construction, maritime, and oil and gas industries. The United States generated more than 80% of all revenues in North America.

Global Rope Market Report Snapshots

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Global Rope Market size was valued at USD 1.79 Billion in 2022 and is poised to grow from USD 1.95 Billion in 2023 to USD 3.79 Billion by 2031, at a CAGR of 8.7% during the forecast period (2024-2031).

Due to the prevalence of several domestic and foreign competitors, the global market has been defined by intense competition, leading to a fragmented market. Few businesses have concentrated on providing services to the industrial sector in an effort to obtain an advantage over other businesses by appealing to the big customer base. Businesses like Samson Rope Technologies and Yale Cordage's Works have been concentrating on meeting industrial demand, ranging from rescue and forestry applications to aerospace, marine, mining, safety, arborist, marine, fishing, off-road, and general cordage. These businesses offer a wide range of product variants, including Nylon, Polyester, Polypro, Spectra, and Kevlar ropes. 'WireCo WorldGroup (US)', 'Teufelberger Holding AG (Austria)', 'Samson Rope Technologies, Inc. (US)', 'Bridon-Bekaert (UK)', 'Marlow Ropes Ltd. (UK)', 'Southern Ropes (South Africa)', 'Katradis Marine Ropes Ind. S.A. (Greece)', 'CERTEX Svenska AB (Sweden)', 'Yale Cordage Inc. (US)', 'Lankhorst Ropes (Netherlands)', 'Cortland Limited (US)', 'English Braids (UK)', 'Phillystran, Inc. (US)', 'Usha Martin Ltd. (India)', 'Wire Rope Industries (Canada) Ltd. (Canada)', 'Touwfabriek Langman B.V. (Netherlands)', 'Samson Maritime Limited (US)', 'Miami Cordage/Florida Wire & Rigging Works (US)', 'Gutehoffnungshütte Radsatz GmbH (Germany)', 'HBC-radiomatic GmbH (Germany)', 'Langman Ropes (Netherlands)'

The construction and infrastructure industries are significant end-users of ropes, especially steel ropes, in various applications such as lifting, hauling, and suspension. The growing demand for construction and infrastructure development activities in emerging economies is expected to drive the growth of the global market. Increasing need for modernisation and expansion of existing infrastructure such as roads, railways, airports, and ports drives the demand for ropes.

The increasing demand for high-strength, durable, and lightweight ropes in various applications such as lifting, mooring, and towing is driving the development of high-performance ropes. These ropes are made of advanced materials such as high-strength fibers and alloys and are designed to withstand extreme conditions.

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Global Rope Market Size, Share, Growth Analysis, By Product(Synthetic, Steel), By End User(Residential, Commercial) - Industry Forecast 2024-2031

Global Rope Market Regional Insights

Global Rope Market Report Snapshots

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