Global Steel Wire Rope & Plastic Rope Markets Report 2021: Sports & Leisure is the Fastest-growing Sector - Forecast to 2026
DUBLIN, June 2, 2021 /PRNewswire/ -- 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 2026" report has been added to ResearchAndMarkets.com's offering.
The global steel wire rope & plastic rope market size is projected to grow from USD 11.9 billion in 2021 to USD 17.5 billion by 2026, at a CAGR of 8.0% between 2021 and 2026.
Steel wire ropes and plastic ropes are demanded in various applications including marine & fishing, sports & leisure, oil & gas, industrial & crane, mining, construction, and others; due to its advantages properties such as high durability, temperature resistance, extremely lightweight, and highly stiff and good strength.
However, global pandemic disease COVID-19 has disrupted the operations of various end-use applications which has decreased the demand for steel wire rope & plastic rope in 2020.
Regular Type of Lay is the fastest-growing type of lay for steel wires, in terms of value.
Regular lay ropes are more resistant to crushing forces, more naturally rotation-resistant, and spool better in a drum than lang lay ropes. They are used for various applications, such as industrial & crane, mining, oil & gas, construction, and fishing & marine.
Polyester material type is the fastest-growing material type of plastic ropes, in terms of value.
Polyester ropes are widely used for boat lines and sailing applications as they provide good strength, durability, relatively low stretch, and reasonable prices. Polyester ropes have good UV resistance, and unlike nylon, they retain their strength under wet conditions. Unlike nylon or polypropylene, polyester is not stretchy. It is usually used as an outside coating to a rope having a Kevlar core, which is UV-sensitive.
Some of the disadvantages of polyester ropes are that these are not suitable if the load is subject to jerking. They do not provide strength like the nylon ropes. For several applications, polyester might only be used as the outside protective layer, as it has excellent abrasion resistance. Polyester ropes are often used for winches, capstans, and block & tackles. They have low stretch and low creep
Sports & Leisure is the fastest-growing application of steel wire ropes & plastic ropes, in terms of value.
In sports & leisure applications, plastic ropes are used in racing cars, exercise machines, camera flying rigs, static lines, stunt rigging, tie-downs, and accessory cords. Tent shinning line made of HMPE fiber, glider lines, kite surfing line, safety rope lines, climbing ropes, fitness ropes, parachute cords, and camping ropes are some of the other types of plastic ropes used in this industry.
Various plastic ropes are used that are made of polypropylene, polyester, nylon, and others. They are also used in the filmmaking industry for controlling the camera lines. The market in this application has growth potential during the forecast period, as the ropes also help in rescue and safety operations during any sports activity.
APAC is the fastest-growing steel wire rope & plastic rope market.
APAC is projected to register the highest CAGR in terms of value in the global steel wire rope & plastic rope market during the forecast period. The growth of the steel wire rope & plastic rope industry in this region is supported by the recovery in end-use industries, the advancement of industrial technology solutions.
The steel wire rope market in APAC is driven by the increasing consumption in the industrial & crane, mining, and construction sectors. The increased urbanization and industrial development in countries such as China, India, and Japan are also driving the market in the region.
Due to COVID-19, numerous industries and companies have halted their production sites across various countries that has led to reduced demand for steel wire ropes & plastic ropes in APAC countries. The recovery in the end-use applications with restoration in the supply chain would drive the steel wire ropes & plastic ropes demand during the forecast period.
Market Dynamics
Drivers
- High Strength and Low Weight of Plastic Ropes
- Safety Aspects of Plastic Ropes
- Infrastructural Development, Increased Industrial Activities, and Growth in Mining Industry
Restraints
- High Cost of Raw Materials and Frequent Preventive Maintenance of Plastic Ropes
- Declining Economy due to COVID-19
Opportunities
- Plastic Ropes as a Better Alternative to Steel Wire Ropes
- Growing Fishing and Mining Sectors in APAC
- Increasing Use of HMPE and Specialty Fiber Ropes for Mooring in Marine Applications
Challenges
- Lack of Awareness About Advantages of Use of Plastic Ropes
- Corrosion of Steel Wire Ropes
Supply Chain Analysis
Porter's Five Forces Analysis
Ecosystem: Steel Wire Rope Market
Value Chain Analysis
Impact of COVID-19 on Steel Wire Rope & Plastic Rope Value Chain
- Raw Materials
- Rope Manufacturers
- Applications
Technology Analysis
Pricing Analysis
Patent Analysis
- Top Applicants of Patents
- Figure 21 Top Applicants of Patents
- List of Patents by China University of Mining and Technology
- List of Patents by Zoomlion Heavy Ind Sci & Tech.
- List of Patents by Kone Corp.
- List of Patents by Jiangsu Fasten Tech Development Center Co Ltd.
- List of Patents by Univ Taiyuan Technology
- List of Patents by Xuzhou Coal Mine Safety Equipment Mft Co Ltd
- Top 10 Patent Owners (Us) in Last 10 Years
Tariff and Regulations
Key Market for Import/Export
- US
- Germany
- France
- China
COVID-19 Impact on the Market
Case Study Analysis
Company Profiles
Key Players
- Cortland Limited
- Wireco Worldgroup Inc.
- Samson Rope Technologies
- Southern Ropes
- English Braids Ltd.
- Marlow Ropes
- Teufelberger Holding Ag
- Bekaert Sa
- Jiangsu Langshan Wire Rope Co., Ltd.
- Usha Martin
- Gustav Wolf GmbH
- Yale Cordage
- Lanex A.S.
- Tokyo Rope Mfg. Co., Ltd.
- Bexco Nv Sa
Other Companies
- Novatec Braids, Ltd.
- Katradis Marine Ropes Ind. S.A.
- Dsr
- Kiswire
- Pfeifer
- Swr, Ltd.
- Mazzella Companies
- Shinko Wire Company, Ltd.
- Saint-Gobain Performance Plastics
- Parker Hannifin Corporation
For more information about this report visit https://www.researchandmarkets.com/r/l3aedz
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