According to the new market research report “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″, size is expected to grow from USD 11.9 billion in 2021 to USD 17.5 billion by 2026, at a CAGR of 8.0% during the forecast period. Steel wire ropes & plastic rope are extensively being used in marine & fishing, sports & leisure, oil & gas, industrial & crane, mining, construction, and other end-use applications.
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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.
The Polypropylene material type Plastic Ropes accounts for the largest market share in the global plastic rope market during the forecasted period in terms of value and volume Polypropylene is the most common material found in ropes used in the marine & fishing industry. As it is low in weight, it floats in water. It is found in multifilament fiber form, similar to but slightly thicker than polyester and nylon. It is sometimes found as thicker monofilament resembling straw or bristles, typically 0.1 mm to 0.15 mm diameter. Polypropylene is reasonably economical as compared to HMPE or polyester. It has good chemical resistance and is preferred in water-related applications, as it floats in water. Polypropylene ropes are used as water-ski ropes and are also used for utilitarian purposes. Polypropylene has some limitations pertaining to high-stress conditions and UV radiations, due to which polypropylene ropes are not recommended to be used as safety ropes. It is sometimes added to ropes in combination with other fibers to add strength.
The COVID-19 pandemic has resulted in reduced demand for plastic ropes from major applications such as marine & fishing, and sports & leisure. These factors have reduced the demand for polypropylene plastic ropes in 2020. The plastic ropes consumption is expected to recover post the pandemic.
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The global steel wire rope & plastic rope market size was USD 11.9 billion in 2021 and is expected to reach USD 17.5 billion by 2026, projecting a CAGR of 8.0% between 2021 and 2026. Steel wire ropes & plastic ropes are increasingly used in the marine & fishing, sports & leisure, oil & gas, industrial & crane, mining, construction, and other end-use applications. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for steel wire ropes & plastic ropes. Due to the lockdown scenario in Europe and North America, the demand for steel wire ropes & plastic ropes from oil & gas, industrial & crane, mining, construction, and other applications have declined sharply in 2020.
Steel wire ropes and plastic ropes have high applicability in the marine & fishing and mining sectors. Plastic ropes are less prone to corrosion and have floating properties that make them suitable for use in fishing activities. In mining applications, steel wire ropes are preferred due to their high load-bearing strength. In APAC, the fishing and mining sectors are among the booming sectors, especially in countries such as China, Indonesia, Japan, and India. APAC led the total aquaculture production and accounted for 89% of the global aquaculture production in 2013. In addition, APAC has the world’s largest mineral reserves. This is expected to help the steel wire ropes and plastic ropes manufacturers with immense growth opportunities in the region.
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Cortland Limited (US) works through its subsidiaries: Cortland Cable (US), Cortland Puget Sound Rope (US), Cortland Fibron BX (UK), and Cortland Selantic (Norway). Cortland Limited operates as a subsidiary of Actuant Corporation (US), a diversified industrial company with operations in more than 30 countries worldwide. The company provides custom solutions and offers its products to various industries such as oil & gas, marine, aerospace & defense, and medical. Its product line is categorized into synthetic rope & strength members, lifting slings & tethers, umbilical, electro-optical-mechanical cables, and medical textile & strength members.
WireCo WorldGroup Inc., (US) is one of the leading manufacturers of steel wire & synthetic ropes, fabricated products, specialty steel wires, synthetic yarns, and electromechanical cables. It has three business segments—ropes, specialty wires, and engineered products. The company markets its products under multiple brands: Union, MacWhyte, Casar, Camesa, Oliveira, Wireline Works, Phillystran, Lankhorst Ropes and Yarns, Drumet, and US Reel.
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