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 : December, 2019 | 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 reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

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

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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