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The Global Synthetic Rope Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over next seven years 2019-2025 due to increasing demand for oil and gas extraction activities.
The global Synthetic Rope market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors responsible for the market growth include growth in awareness regarding sports, safety aspects of synthetic ropes, increasing demand for oil and gas extraction activities, increase in demand for crude oil and growing demand for construction industries. In addition, high demand from emerging economies provides huge growth opportunity for the market. However, factors such as lack of awareness and high cost of raw materials are hindering the market growth.
Global Synthetic Rope market segmented on the basis of material type, end user and region.
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Polypropylene (PP) Materials Dominate the Global Synthetic Rope Market
Based on the product type, global Synthetic Rope market segmented into Nylon, Polyester, Polyethylene, Polypropylene and Specialty Fibers. Polypropylene (PP) is a thermoplastic “addition polymer” made from the combination of propylene monomers. Polypropylene rope is commonly used for fishing and other general marine applications. This type of rope is characterized by an average abrasion resistance, good strength and good UV radiation resistance. It has a density of 0.91 meaning this is a floating rope. This is usually manufactured using monofilament, splitfilm or multifilament fibres.
Asia Pacific Leads the Global Synthetic Rope market
PBI’s global Synthetic Rope market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global synthetic rope market with considerable CAGR. The growth in this region can be attributed to unexplored offshore oil & gas fields in the region, growing construction industry and rising marine offshore mooring systems. Moreover, high aquaculture production or fishing activities in the region is other major factor boosting the market growth.
Strategic Expansions are the key strategies adopted by market players
Global Synthetic Rope market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, Samson, a provider of synthetic rope in numerous marine applications has expanded its footprint with a new facility in various areas. The expansion is expected to increase Samson’s market penetration in addition to uplifting its facility to increase production capabilities, therefore impacting growth of market in a significant way.
Key player’s profiles in the report are Bridon International Limited (U.K.), Cortland Limited (U.S.), English Braids Ltd (England), Honeywell International Inc. (U.S.), Marlow Ropes (U.K.), Royal DSM (Netherlands), Samson Rope Technologies (U.S.), Teijin Aramid (Netherlands), WireCo World Group (U.S.) and Yale Cordage Inc. (U.S).
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Precision Business Insights (PBI) in its report titled “Global Synthetic Rope Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
Detailed Segmentation
By Material Type
o Nylon
o Polyester
o Polyethylene
o Polypropylene
o Specialty Fibers
By End User
o Sports
o Oil & Gas
o Mining
o Marine & Fishing
o Cranes
o Building & Construction
o Others
Geography
o North America
· US
· Canada
o Europe
· Germany
· France
· UK
· Italy
· Spain
· Russia
· Poland
· Rest of Europe
o Asia-Pacific
· Japan
· China
· India
· Australia & New Zealand
· ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
· South Korea
· Rest of Asia-Pacific
o Latin America
· Brazil
· Mexico
· Argentina
· Venezuela
· Rest of Latin America
o Middle East and Africa (MEA)
· Gulf Cooperation Council (GCC) Countries
· Israel
· South Africa
· Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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Submitted March 29, 2019 at 10:19AM by ShristiPBI https://ift.tt/2FArtTH
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