Synthetic rope is made from all the same fibers that are present in natural fibers but are processed to become stronger and more durable. These fibers are mixed with synthetic materials such as nylon and polyester to create the strength and durability that is so commonly associated with synthetic rope. Because of its increased strength and resistance to abrasion, synthetic rope is ideal for applications where high wear resistance is a factor. Synthetic rope is also frequently used in applications requiring a high level of both strength and flexibility, including construction projects, military applications, and high-risk industries such as the entertainment industry.
The emerging marine & fishing industry is fueling the growth of the synthetic rope market. The rise in construction activities around the globe is projected to foster the growth of the market. Also, growing demand from sports and a rise in gymnasium population are again projected to foster the growth of the market. Growing demand for crude oil and the rise in oil and gas extraction activities is further anticipated to propel the growth of the market. According to the International Energy Agency, world oil production World oil demand increased by 1.1% in 2018, driven by non-OECD countries. Provisional 2019 data shows further growth. Furthermore, the growing use of materials across different industries owing to its enhanced ability to handle heavy materials is surging the growth of the synthetic rope market.
The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the increasing construction industry in the region. According to the India Brand Equity Foundation, the infrastructure sector has become the biggest focus area for the Government of India. In Union Budget 2020-21, the Government has announced Rs. 91.82 billion (US$ 13.14 billion) for road transport and highways. For FY21, budgetary allocation to the Ministry of Development of North Eastern Region has been increased to Rs. 3,049 crore (US$ 429.25 million) from Rs. 2,670 crore (US$ 376.16 million) in FY20
Key Players:
In November 2017, Honeywell announced the launch of Spectra® HC1000, the newest version of its Spectra fiber that is specifically designed for challenging applications that can limit the product lifecycle of synthetic ropes
In September 2019, Konecranes, specialists in technologies for the ports and terminal industry, has announced the launch of three new lifting products. The additions to their portfolio include the innovative new S-series, which uses a synthetic rope to delivers enhanced lifting performance and longer-lasting use.
No comments:
Post a Comment