Ropes and Cordages Market: Technological Advancements, Evolving Industry Trends and Insights
Rope is a strong form of ‘piles’, fibers, strands or yarns twisted together to form rope. Ropes are particularly designed to support loads. Ropes are used for lifting, carrying, and dragging. Ropes are stronger compared to string, twine, and cord. There are two main types of rope: plaited rope and endless winding rope. Cordage is made of rope and used to control the position and shape of ship and sails. Ropes are made of various materials, mainly, from natural and synthetic raw material. Ropes can also be made from steel. Synthetic ropes are lightweight and more durable. Nylon ropes are made from mono filaments. Ropes and cordages are used in various industries such as marine, fishing, oil, gas, and construction. Ropes and cordages are lightweight and high in strength. A multi stranded rope is more reliable and flexible as compared to single stranded ropes.
The ropes and cordages market is primarily driven by the growing marine and fishing industry. The market is also influenced by other factors such as product performance and capability to support load, and the raw material used to make the rope and cordage. Key drivers that have boosted the popularity of rope and cordage include increased demand for adventure and entertainment, sports & leisure activities, good quality raw materials, safety provided by the product, and rise in spending power of the population. In addition, rise in construction activity is also projected to increase the demand for rope and cordage. Increasing awareness regarding gymnasium and sports activities is expected to enhance revenue growth of the ropes and cordages market. However, lack of awareness and knowledge about product quality and key manufacturer is expected to be the major factor restraining the growth of the ropes and cordages market.
In addition, unstable price of raw material is anticipated to challenge the market. Nevertheless, increasing demand for crude oil and therefore, growing oil and gas extraction activity is expected to create significant opportunity for the global ropes and cordages market.
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The global ropes and cordages market can be classified based on raw material, twist type, end-user industry, and region. Based on raw material, the ropes and cordages market can be segmented into natural raw material (jute and manila hemp), and synthetic raw material (polypropylene, polyester, polyethylene and specialty fiber). In terms of twist type, the ropes and cordages market can be classified into strand braided rope, double braided rope, and turbo braided rope.
Based on end-user industry, the ropes and cordages market can be segmented into marine & fishing, packaging, sports & leisure, oil & gas, construction, and others such as household and crane. The global ropes and cordages market can be segmented into North America (U.S., Canada and Mexico), Europe (Germany, Italy, U.K., Russia and Spain), Asia Pacific (China, Japan, India, South Korea, and Singapore), Middle East & Africa, and South America.
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Some of major players operating in the ropes and cordages market include Cortland Limited, Samson Rope Technologies, Inc., Southern Ropes, WireCo WorldGroup, Marlow Ropes Ltd, Lanex A.S., Bridon-Bekaert Ropes Group, Yale Cordage Inc., Teufelberger Holding AG, English Braids Ltd., Actuant Corporation, Atlantic Braids Ltd., Bexco nv-sa (Bexco), Responsive Industries Ltd., Touwfabriek Langman B.V., Tokyo Rope, Kiswire, Jiangsu Langshan, Guizhou, Fasten Group, Jiangsu Shenwang, Shinko, Xianyang Bamco, Jiangsu Safety, Gustav Wolf, Ansteel Wire Rope, YoungHeung, PFEIFER, Hubei Fuxing, Redaelli, Haggie, and Brugg.
Manufacturers are focusing on acquisition to maximize their coverage. They are also making efforts to expand their business in various regions. Moreover, top players are undertaking efforts to enhance their product quality with the introduction of new designs such as ropes and cordages with waterproof and durable materials. This is likely to lead to the introduction of many advanced products in the market during the forecast period.
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