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Rise in demand for fish-products, surge in seaborne trade, and increase in size of cargo are expected to drive the growth of the global synthetic rope market.
WILMINGTON, DELAWARE, UNITED STATES, December 5, 2023 /EINPresswire.com/ -- Allied Market Research just dropped some knowledge on the synthetic rope scene! According to their recent report, the global synthetic rope market hit $1.33 billion in 2017 and is gearing up to reach $2.18 billion by 2025. That's a tidy 6.3% Compound Annual Growth Rate (CAGR) right there!
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/1585
The report dives deep into the ropes, revealing that specialty fibers are the cool kids on the block, owning nearly a third of the market in 2017. They're expected to keep leading the pack thanks to their durability and cool properties like thermal conductivity and chemical resistance. Polyester, with its UV resistance and heat-fighting abilities, is the rising star, set to grow at a CAGR of 7.3%.
In terms of end-users, construction is the reigning champion, claiming about two-fifths of the market share in 2017. It's all thanks to urbanization and the boom in modern construction activities. But keep an eye on the marine & fishing segment; it's set to snatch the highest CAGR of 7.2% through 2025, driven by the surge in aquaculture and fishing activities worldwide.
Europe is predicted to be the new kid on the growth block, with a CAGR of 7.1% from 2017 to 2025. Meanwhile, North America is holding it down with the largest market share, thanks to the oil & gas production boost and increased exploration activities.
And who are the key players in this synthetic rope symphony? Actuant Corporation, Atlantic Braids Ltd, Bridon-Bekaert Ropes Group, Bexco NV-SA, English Braids Ltd, Responsive Industries Ltd, Southern Ropes, Teufelberger, Touwfabriek Langman B.V., and Wireco WorldGroup are the names to drop if you're into market player talk.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/synthetic-rope-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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