“Global High Modulus Polyethylene Ropes Market, By Product Type (3-Strand, 8-Strand, 12-stand, Other Product Types), By End-Use (Marine, Industrial, Leisure, Other End-Uses), as well as by Region – Global Forecast 2021 to 2029.”, which offers a comprehensive view of the Global High Modulus Polyethylene Ropes Market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $447.9 Mn, and is estimated to increase moderately over the latter part of the forecast period.
High Modulus Polyethylene (HMPE) is a fiber that has a high strength-to-weight ratio and low stretch characteristics, but limited resistance to high temperatures. The fibers have good abrasion resistance and tension-tension fatigue life. HMPE is resistant to axial compression and has a low coefficient of friction.
The rapid expansion of various end-use industries such as marine, oil & gas, mining, aquaculture, etc., is expected to exponential lead to a boost in the demand for HMPE ropes, thereby immensely contributing to the revenue growth of the Global High Modulus Polyethylene Ropes Market in the years to come. Moreover, these end-use industries are also looking to revamp their respective existing infrastructures, including the gradual transition from the use of conventional ropes such as steel, nylon, etc., to HMPE products owing to their numerous favorable benefits. This is a factor that is also slated to have a significant impact on the market growth of this global industry. Furthermore, the steady expansion being experienced by the e-commerce sector is leading to an exponential increase in trade and shipping activities, which in turn, is expected to increase the demand for these products. In addition to this, these aforementioned end-use industries are now channeling their focus towards the effective penetration of numerous emerging economies which is expected to have a profound influence on this global industry. These are some of the other elements that are expected to further augment the global market footprint of this sector, and are some of the most crucial factors anticipated to play a critical role in augmenting projected revenues for the Global High Modulus Polyethylene Ropes Market to $593.5 Mn by 2029, at a CAGR of 7.3%.
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