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Marine Industry plays a crucial role in the country's economy. Maritime transport is an integral part of international logistics and accounts for nearly 80% of the volume of global trade. Therefore, enhancement in international seaborne trading and maritime transport are shaping the macroeconomic factors worldwide. Mooring rope is the manila rope or a synthetic material such as nylon used in the marine industry extensively, which is made of different materials having specific characteristics, which makes ideal or unfavorable for a variety of applications found on a vessel. Mooring rope is chosen based on strength, elasticity, and chafe-resistance property of the material, which are used in varied applications.
Mooring Ropes are widely used for ship launching, marine salvage, and heavy transportation these days, whereas the most popular application of these mooring ropes, is to launch a ship. The use of airbags helps to remove the elimination of using tows and tugs as launching and landing instruments. Mooring Ropes are made of synthetic rubber as reinforcement layers and stringent quality control compliances. Mooring Ropes comprise three major parts, namely airbag body, airbag mouths, and airbag heads. It is considered more powerful and advanced tools for many marine projects, which includes disembarking ships, heavy transportation, and re-floating salvage.
The mooring ropes market is segmented into material type, no. of strands, end-user, and geography. Based on material type, the market is segmented into nylon, polyester, polypropylene, high modulus polyethylene, and others. The mooring ropes are dominated by the nylon segment owing to its wide range of applications in the marine & fishing industry. The no. of strands segment is further segmented into up to 4 strands, 4 to 10 strands, and above 10 strands. The 4 to 10 strands segment is expected to drive the market due to its superior mechanical strength, higher stretch resistance, and bending capability. Based on end-user, the mooring ropes market is segmented into marine, oil & gas, construction, and others. The marine segment is expected to hold the largest market share in the global market owing to wide applications such as inland shipping, anchor ropes, mooring lines, and other marine applications.
The increasing demand for mooring ropes in marine applications such as mooring lines, towing stretchers, mooring tails, and inland shipping drives the demand for the mooring ropes market during the forecast period. Rising demand for marine transportation, and increasing investments from construction activities, signifies promising opportunities for the growth of the mooring ropes market. However, variability in raw material prices restraints market growth.
Key Market Driver -
Increasing investment in marine, construction, and Industrial operations
Key Market Restraint -
Variability in raw material prices
Some of the globally acclaimed companies for mooring ropes are WireCo WorldGroup, Courtland Limited, Katradis Marine Ropes Industry SA, Dynamica Ropes, Marlow Ropes Ltd, Folch Ropes, SA, Teufelberger Gruppe, LIROS GmbH, van Beelen Group, Jimmy Green Marine, Survitec Group Ltd., and Hendrik Veder Group.
The mooring ropes market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is dominating the mooring ropes market owing to a wide application in inland shipping, anchor ropes, mooring lines, towing stretchers, mooring tails, which propels the demand for mooring ropes during the forecast period. Asia Pacific is estimated to be the second-largest market for mooring ropes, followed by the North America region owing to increasing investment in the maritime industry, construction, and industrial operations. Europe also propels the demand for mooring ropes market due to growing marine trading activities and increasing investments from the energy & power industry and construction industry. Hence, the growing application of mooring ropes from the marine industry and investment from the construction industry drives the demand for mooring ropes market during the forecast period.
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