Global High Modulus Polyethylene Ropes Market By Product Type (3-Strand, 8-Strand, 12-Strand), By End-Use (Marine, Industrial, Leisure) and By Regions - Global Forecast 2030

“Global High Modulus Polyethylene (HMPE) Ropes Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global high modulus polyethylene (HMPE) ropes market has been segmented on the basis of product type, end-use, as well as regions and countries.

The Global High Modulus Polyethylene (HMPE) Ropes Market was valued at UЅD $324.8 Мn in 2020, and is projected to achieve a valuation of UЅD $593.5 Мn by 2030, at a САGR of 7.3%.

Overview:

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.

Dynamics:

The growing demand for durable, lightweight materials for varying applications in numerous industries including marine, mining, leisure activities, industrial purposes, etc., is a primary factor that is expected to continue to fuel the revenue growth of the global high modulus polyethylene ropes market over the next decade. Moreover, owing their numerous benefits, HMPE ropes are gradually replacing nylon, steel and other conventional fiber ropes in various industries such as aquaculture, oil & gas, etc., and this factor is also slated to further compliment the market growth of this global industry.

Additionally, the exponential expansion of the e-commerce industry has led to increased shipping and trade activities. These activities are expected to surge marine logistics, which in turn, is anticipated to significantly boost the demand for these products, thereby, boosting revenue growth opportunities in the process.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global high modulus polyethylene ropes market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, the high costs associated with the raw materials required to manufacture these products is also a factor that may hamper the revenue growth of the global high modulus polyethylene ropes market in the years to come.

The rapid expansion of various end-user industries such as mining, marine, oil & gas, etc., especially in emerging economies, is another major factor that is expected to surge the demand for these products, and boost the revenue growth of the global high modulus polyethylene ropes market in the foreseeable future.

Segmentation of the global high modulus polyethylene (HMPE) ropes market is as follows:

In terms of product type, the 12-strand segment accounted for the maximum number of revenue shares of the global high modulus polyethylene ropes market in 2020, and is expected to continue doing so over the forecast period. The 8-strand segment is also anticipated to index a high CAGR over the next 10 years.

With regards to end-use, the marine segment accounted for the highest number of revenue shares of the global high modulus polyethylene ropes market in 2020, and is anticipated to continue to do so over the next decade. The industrial segment is also indicative of registering a high CAGR over the forecast period.

Regional Segmentation and Analysis:

The markets in the Asia Pacific region accounted for the maximum number of revenue shares of the global high modulus polyethylene ropes market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. The markets in Europe and North America are also expected to register high CAGRs respectively over the course of the forecast period.

Segmentation of the Global High Modulus Polyethylene (HMPE) Ropes Market:

Segmentation by Product Type:

• 3-Strand
• 8-Strand
• 12-Strand
• Other Product Types

Segmentation by End-Use:

• Marine
• Industrial
• Leisure
• Other End-Uses

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA