Steel Wire Rope and Plastic Rope Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

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Steel Wire Rope and Plastic Rope Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Chemical & Materials | PPT format

Report Digest


Global Steel Wire Rope and Plastic Rope Market: Overview

One of the most multi-functional pieces of mechanical machinery to be used across industries, ropes are made of varied material, which determines their utility, performance and service life. The development of new and advanced fibres have led to high performance ropes, which in turn have led to a rise in their applications. As higher breaking loads and increased abrasion resistance and fatigue resistance become more and more important, the global steel wire rope and plastic rope market is looking at an upward trajectory. Projected to grow at a moderate rate.

Global Steel Wire Rope and Plastic Rope Market: Notable Development

  • June 2017: Agreement between PSC Crane and Rigging from Piqua signed for supply of Plasma synthetic rope slings. The slings, as a lifting and lowering solution, are seen as an evolutionary development in the world of rope - 7 times lighter than wire ropes and 1/2x the size of a round one. These are expected to stiffen the competition for steel wire ropes and plastic ropes market in the coming years.
  • April 2018: Samson, through its partnership with Baitra, increased its distribution capacity in Spain; it increased facility size by a factor of 6. This might be read as the partners’ foray into untapped territory created by an increase in demand.
  • March 2019: Turbolite M, an 8 strand compacted hybrid hoist rope with high strength and fatigue resistance, developed which is helping break new grounds in underground mining.
  • FRES: Developed by National Oilwell Varco, Fibre Rope Extension System (FRES) can help increase lifting capacity of existing steel rope cranes for deep-water operations

Some of the most prominent competitors operating in the competitive landscape of global steel wire rope and plastic rope market include –

  • WireCo World Group Inc
  • Bekaert SA
  • Tuefelberger Holding AG
  • Cortland Limited
  • DSR
  • Samson Rope
  • Usha Martin
  • Jiangsu Langshan
  • Marlow Ropes Ltd

Current focus for most companies to chart growth in the global steel wire ropes and plastic ropes market is through improving efficiency and shelf life. In order to capture opportunities, it is important to focus on process improvement and financial flexibility to invest in the right kind of strategies.

Global Steel Wire Rope and Plastic Rope Market:  Key trends

A move for steel sheaves over plastic ones in order to increase life of steel wire ropes is seen as driving adoption of the ropes. Here, it is important to note that good steel comes at a higher price than conventional steel, thereby impacting end-use industries negatively but nonetheless, opening gates to a more durability.

Increase in demand for steel wire ropes and plastic ropes from industries such as marine and fishing, mining, industrial and crane end-use, oil and gas, sports and leisure, and construction is expected for sheer virtue of the ropes being lightweight and sturdy apart from having a low specific gravity and superior elasticity. Besides, these have a high resistance to corrosion and can handle bending stresses exceptionally well.

Global Steel Wire Rope and Plastic Rope Market: Drivers

Owing to excellent impact resistance, flexibility, load-bearing capacity, and lifespan, a swift adoption of steel wire ropes and plastic ropes by industries such as mining and industrial and crane end-use is noted.  

Plastic ropes are gaining better foothold, especially in cranes industry due to their ability to withstand harsh conditions during handling, installation and maintenance. 

Global Steel Wire Rope and Plastic Rope Market:  Regional Analysis

The APAC (Asia-Pacific) region would be prominent in terms of market value for steel wire ropes and plastic ropes in the forecasted period. China would be a key player; with the country’s industrial activities growing at a steady pace, the demand for steel wire ropes and plastic ropes is predicted to grow. Other countries representing a rosy outlook are India, Indonesia, Thailand and Malaysia.  Brazil and GCC (Gulf Cooperation Council) countries are expected to play a key role too.

Global steel wire rope and plastic rope market is segmented based on:

Type of lay

  • Regular lay
  • Lang lay

Material type

  • Polypropylene
  • Polyester
  • Nylon
  • HMPE
  • Specialty Fibers

Application

  • Marine & Fishing
  • Sports & Leisure
  • Oil & Gas
  • Industrial & Crane
  • Mining
  • Construction
  • Others

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.