Global High Modulus Polyethylene Ropes Market Is Projected To Reach USD 593.5 Mn In 2029, At A CAGR of 7.3%

High Modulus Polyethylene Ropes Market Infographics Description:

• The global high modulus polyethylene ropes market was valued at US$ 305.8 Mn in 2019.
• Worldwide high modulus polyethylene ropes market is projected to reach US$ 593.5 Mn in 2029 at a CAGR of 7.3% from 2019 to 2029.
• Based on product type, the 12-Strand segment in the global high modulus polyethylene ropes market is estimated to account for a majority revenue share of 42.2% in 2019 and is expected to continue its dominance over the forecast period. This is attributed to increasing demand for lightweight and durable materials in various applications including mining, marine, industrial, leisure activities, and others.
• Revenue from 12-Strand segment is expected to increase 8.0X between 2019 to 2029.
• Among all the end-use segments, marine segment is expected to be the largest segment with a revenue USD 103.6 Mn in 2019 and is projected to dominate the target market over the forecast period due to increasing construction and marine activities for mooring, lifting, towing, and other applications globally.
• The asia-Pacific market is estimated to accounted for major revenue share of US$ 82.5 Mn in 2019 and is expected to register a CAGR of 8.2% in the next ten years. The market in Europe accounts for second-highest revenue share in the global high modulus polyethylene ropes market.
• Companies profiled in the report are as Koninklijke DSM N.V., Bridon-Bekaert Ropes Group, Wilh. Wilhelmsen Holding ASA, Lankhorst Ropes, Tokyo Seiko Rope Mfg. Co., Ltd., Juli Sling Co., Ltd., Garware Technical Fibres Ltd, Samson Rope Technologies Inc., Ningbo Dacheng Advanced Material Co., Ltd., Katradis-Marine Ropes SA, English Braids Limited (Marlow Ropes Ltd.), Southern Ropes Ltd, Taizhou Hongda Rope & Net Co., Ltd.