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Sep 29, 2023

Synthetic Fibre Rope Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2023

The global synthetic fibre rope market size was USD 1.70 Billion in 2021 and is

The global synthetic fibre rope market size was USD 1.70 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data.

Synthetic ropes with high strength-to-weight ratio are one of the key factors driving the revenue growth of the market. Synthetic fibers are man-made fibers made from chemicals as an alternative to natural fibers and are used in synthetic ropes. High-performance synthetic ropes are marketed as one of the latest solutions to improve productivity and safety in the field for a variety of end-users, including mine operators. Studies show that synthetic ropes have 30-90% higher breaking strength than steel wire ropes, which also leads to high demand for synthetic ropes.

Also, the increasing demand for industrial ropes and the availability of synthetic fibers have increased the use of this product. These components are used in pulley systems to provide mechanical benefits and evenly distribute load weight. Therefore, they are often used for weighing payloads and materials in the construction sector. It is also used for transporting materials to various construction sites, including scaffolding. As an excellent alternative to steel wire rope, synthetic fiber rope offers many opportunities for revenue growth in the market.

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Companies profiled in the market report include WireCo WorldGroup, Cortland Limited, Bridon-Bekaert, Southern Ropes, Marlow Ropes, Teufelberger, Yale Cordage, LANEX a. s., Katradis Marine Ropes Ind. S.A, and Unirope Ltd.

Some Key Highlights from the Report

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For the purpose of this report, Reports and Data has segmented the global synthetic fibre rope industry into Material Type Outlook, End-use Outlook, Regional Outlook:

Material Type Outlook (Revenue, USD Billion; 2019-2030)

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Regional Outlook (Revenue, USD Billion; 2019-2030)

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