High Modulus Polyethylene Rope Market: Introduction
- High molecular polyethylene is a polyolefin resin. It has high molecular weight and long molecule chains of polyethylene produced by gel spinning. The long molecular chains strengthen the polymer backbone through intermolecular interactions.
- Ropes manufactured using high molecular weight polyethylene fibers become tough and achieve high strength
- High molecular polyethylene is non-toxic, odorless, non-corrosive, self-lubricating, low moisture absorbent, and tasteless. It can float on water due to its hydrophobic property, which makes it suitable for shipping and aquaculture applications.
- Ropes manufactured using high molecular polyethylene are preferred over conventional fibers and steel materials in aquaculture, aviation, oil & gas industry, windmill, and other industrial applications. These ropes are lightweight, durable, safe, and stronger than conventional materials, such as steel wire.
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Key Drivers of High Modulus Polyethylene Rope Market
- High modulus polyethylene rope market is likely to gain significant momentum in the near future. The market for high modulus polyethylene rope is driven by the increase in demand for lightweight, durable, and safe materials.
- Steady increase in raw material prices of conventional ropes has driven consumers to adopt substitute materials. This is expected to be a key factor fueling the demand for high modulus polyethylene ropes.
- Rise in construction and marine & fishing activities is anticipated to propel the demand for high modulus polyethylene ropes during the forecast period
- Growth of the high modulus polyethylene rope market can be attributed to the increase in investments by key players to develop value-added cost-effective products, and adoption of strategies such as expansions and mergers & acquisitions
8 Strand Type Segment to Offer Lucrative Opportunities
- Based on type, the global high modulus polyethylene rope market can be classified into 3 strand, 8 strand, 12 strand, and others
- 8 strand is anticipate to be the key type segment of the high modulus polyethylene rope market due to advantages offered by 8 strand ropes, including lightweight, corrosion resistance, and high friction coefficient. Thus, these ropes are majorly used in the marine application due to its high strength and excellent grip.
- 12 strand is anticipate to be the second largest segment, followed by 3 strand segment
Marine Application Segment to Lead Global High Modulus Polyethylene Rope Market
- Based on application, the global high modulus polyethylene rope market can be divided into industrial, marine, leisure, and others
- Growth of the shipping industry and rise in consumption and demand for fish are key factors driving the demand for high modulus polyethylene ropes in marine application
- Industrial is likely to be the second major application segment of the global high modulus polyethylene rope market by 2027
North America a Key Market for High Modulus Polyethylene Ropes
- In terms of region, the global high modulus polyethylene rope market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is a mature market for high modulus polyethylene ropes and holds the highest market share due to significant consumption of high modulus polyethylene ropes in shipping and fishing industries
- The high modulus polyethylene rope market is likely to grow rapidly in the Asia Pacific region over the next decade. It is estimated to witness burgeoning potential from rapidly expanding economies of the region, including China, India, Indonesia, and Malaysia. Increase in construction activities and industrialization will boost the high modulus polyethylene rope market in the region.
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Key Manufacturers in Global High Modulus Polyethylene Rope Market
The global high modulus polyethylene rope market was relatively consolidated in 2018. Leading players in the region are focusing on expanding their product portfolio by offering various value-added products. Companies are increasing their supply chain to promote their products in various regional markets. Leading manufacturers operating in the global market include:
- Lankhorst (WireCo)
- English Braids
- Marlow Ropes
- Southern Ropes
- Taizhou Hongda
- Jiangsu Shenyun
- Hunan Zhongtai
- Ningbo Dacheng
- Rope Technology
- Juli Sling
Global High Modulus Polyethylene Rope Market: Research Scope
Global High Modulus Polyethylene Rope Market, by Type
- 3 Strand
- 8 Strand
- 12 Strand
Global High Modulus Polyethylene Rope Market, by Application
- Others (Aviation and Military)
Global High Modulus Polyethylene Rope Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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