Steel Wire Rope And Plastic Rope Global Market Report 2023

Major players in the steel wire rope and plastic rope market are N.V. Bekaert S.A., Cortland Limited, English Braids Ltd., Jiangsu Langshan Wire Rope Co. Ltd., Marlow Ropes Ltd., Samson Rope Technologies Inc.

New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Steel Wire Rope And Plastic Rope Global Market Report 2023" - https://www.reportlinker.com/p06466535/?utm_source=GNW , Southern Ropes Pty Ltd., Teufelberger Holding AG, Usha Martin Ltd., Sandin Manufacturing Inc., Bergen Cable Technology Inc., Strand Products Inc., Guizhou Wire Rope Incorporated Company, Ver Sales Inc., and Dunamis Wire Ropes Mfg. LLP.The global steel wire rope and plastic rope market is expected to grow from $12.22 billion in 2022 to $13.14 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The steel wire rope and plastic rope market is expected to reach $16.86 billion in 2027 at a CAGR of 6.4%.The steel wire rope and plastic rope market consists of sales of galvanized wire rope and coated wire rope.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Steel wire rope and plastic rope refer to types of ropes made from steel and polymers.Steel wire rope is a type of rope made from individual steel wires that are twisted or braided together to form strands.These strands are then twisted or braided together to form the final rope. Plastic rope, on the other hand, is a type of rope made from synthetic materials such as polypropylene, nylon, or polyester.Asia-Pacific was the largest region in the steel wire rope and plastic rope market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in steel wire rope and plastic rope report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main lay types of steel wire rope and plastic rope are regular lay and lang lay.Regular lay rope refers to a type of twisted rope construction where the individual strands are twisted in one direction, and then the resulting strands are twisted together in the opposite direction to form the final rope.The materials used include polypropylene, polyester, nylon, HMPE (high modulus polyethylene), and specialty fibres used for marine and fishing, sports and leisure, oil and gas, industrial and crane, mining, construction, and others.The increasing fishing job and industry is expected to propel the growth of the steel wire rope and plastic rope market forward.The fishing industry refers to the economic sector that involves the catching, processing, marketing, and selling of fish and other aquatic resources, such as crustaceans, mollusks, and seaweed.Steel wire ropes and plastic ropes are widely used in the fishing industry for making nets due to their high strength and durability. For instance, in 2022, according to the Food and Agriculture Organization of the United Nations, an Italy-based organization working to finish world hunger issues and for improving food quality and security, global fish production increased by 1.2% to 184.1 million tonnes as compared to 2018. The aquaculture output increased by 2.6%. Global fish trade revenue increased by 10.7% year-on-year to USD 193.5 billion. As a result, the increasing fishing jobs and industry is driving the growth of the steel wire rope and plastic rope market.Product innovations are a key trend gaining popularity in the steel wire rope and plastic rope market.Major companies in the market are introducing innovative products such as Marlow sustainable rope to sustain their position in the market.For instance, in February 2023, Marlow Ropes Ltd. an England-based manufacturer of specialty rope assemblies launched its sustainable rope line-up. The rope has characteristic features of previous products such as firmness with long elongation properties. The uniqueness of the product is that it is the world’s first sustainably manufactured fast rope that is manufactured using recycled-based content (BCF rPA).In January 2023, Ben-Mor Cables Inc. a Canada-based sling and cable assembly manufacturer acquired Fortune Rope and Metal for an undisclosed amount. The acquisition provides Ben-Mor with an extended footprint across the United States and helps it better serve its customer base. Fortune Rope and Metal Co. LLC is a US-based manufacturer of aircraft cable, wire rope, chain, coated cable, stainless steel, and galvanized, chain, and hardware fittings for a wide range of industrial and commercial customers.The countries covered in the steel wire rope and plastic rope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The steel wire rope and plastic rope market research report is one of a series of new reports that provides steel wire rope and plastic rope market statistics, including the steel wire rope and plastic rope industry’s global market size, regional shares, competitors with a steel wire rope and plastic rope market share, detailed steel wire rope and plastic rope market segments, market trends, and opportunities, and any further data you may need to thrive in the steel wire rope and plastic rope industry. This steel wire rope and plastic rope market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466535/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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