Steel Wire Rope And Plastic Rope Global Market 2024 To Reach $18.02 Billion By 2028 At Rate Of 6.3%

LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The steel wire rope and plastic rope market has experienced robust growth in recent years, expanding from $13.14 billion in 2023 to $14.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrialization and infrastructure development, oil and gas exploration, mining industry expansion, shipping and maritime activities, automotive manufacturing.

Strong Future Growth Anticipated
The steel wire rope and plastic rope market is projected to continue its strong growth, reaching $18.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to rising environmental concerns, marine and aquaculture applications, preference for lightweight materials, expansion of outdoor leisure activities, agricultural and gardening practices.

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Growth Driver Of The Steel Wire Rope And Plastic Rope Market
The rising oil and gas industry will propel the growth of the steel wire rope and plastic rope market. The oil and gas industry encompasses the exploration, extraction, refining, and distribution of petroleum and natural gas resources. The oil and gas industry employs steel wire ropes for heavy-duty lifting and towing due to their high strength and durability, while plastic ropes are utilized for lighter tasks, as they offer corrosion resistance and reduced weight, enhancing operational flexibility and safety.

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

Segments:
1) By Type Of Lay: Regular Lay, Lang Lay
2) By Material Type: Polypropylene, Polyester, Nylon, HMPE (High Modulus Polyethylene), Specialty Fibers
3) By Application: Marine And Fishing, Sports And Leisure, Oil And Gas, Industrial And Crane, Mining, Construction, Other Applications

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the steel wire rope and plastic rope market in 2023 and is expected to be the fastest-growing region in the global steel wire rope and plastic rope market report forecast period. The regions covered in the steel wire rope and plastic rope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Steel Wire Rope And Plastic Rope Market Definition
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.

Steel Wire Rope And Plastic Rope Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Steel Wire Rope And Plastic Rope Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on steel wire rope and plastic rope market size, steel wire rope and plastic rope market drivers and trends, steel wire rope and plastic rope market major players, steel wire rope and plastic rope competitors' revenues, steel wire rope and plastic rope market positioning, and steel wire rope and plastic rope market growth across geographies. The steel wire rope and plastic rope market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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