The ‘Global Mooring Ropes Market Share, Size, Price, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global mooring ropes market, assessing the market based on its segments like materials, strands, distribution channels, end-uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Mooring Ropes Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.20%
A mooring can be defined as a long-lasting and stable structure that is used to attach marine vessels like boats, cruise ships, yachts, jet skis, and submarines. It helps big and small water vessels to be safe when they are unused. Moorings can be a shore fixture like a pier or an offshore fixture like an anchor mooring. The main part of this system consists of mooring ropes or lines, anchors, and connectors.
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A marine craft such as a cargo ship is attached to a mooring structure with the help of mooring ropes or lines or connectors. These ropes come in a broad range of materials such as chains, wires, and synthetic fibres. Mooring ropes are normally made by using polypropylene or a combination of strands.
The robust growth of the fishing sector due to the increase in the demand for fish is one of the main factors fuelling the growth of the mooring ropes market. The high demand for speciality fish like premium and rear fish and surging fishing activities in developing countries are supporting the mooring ropes market.
The rising demand for boats for leisure activities is further encouraging the demand for mooring ropes. Moreover, the increasing per capita income in developing countries and the growing popularity of cruising are boosting the mooring ropes market.
Mooring Ropes Industry Definition and Major Segments
Mooring ropes, also referred to as mooring lines, are utilised to attach or fix a stable structure, a container, or a ship in the water. These ropes are used to affix both small or big marine vessels like yachts, cruise ships, jet skis, and submarines, along with holding large floating decks. Since mooring ropes have significantly more holding strength, are simpler to use, and cause a lesser extent of damage to the marine environment, they are considered to be the safest alternatives to transitory anchors.
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Based on materials, the mooring ropes market can be segmented into:
• High Modulus Polyethylene
On the basis of strands, the market has been classified into:
• Less than 5 Strands
• Between 5 to 10 Strands
• Above 10 Strands
On the basis of distribution channels, the market is classified into:
Based on end-uses, the market is divided into:
• Oil and Gas
The major regional markets for mooring ropes include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Mooring Ropes Market Trends
The flourishing shipping sector due to the growth of sea trading operations is driving the mooring ropes market. With the expansion of the sector, the introduction of new ships and heavy transportation operations is surging the requirement for mooring ropes.
The expanding oil and gas sector in emerging countries is propelling the demand for mooring ropes as these are used to attach oil and petroleum tankers. Marine vessels constructed for bulk shipping require robust support, which is accomplished by using solid and durable mooring ropes.
New advancements and research initiated by the leading market player focussed on manufacturing thick ropes with extra strength and resistance to water are anticipated to provide profitable prospects to the mooring ropes market.
The increasing demand for tough mooring ropes among fish farms and marine platforms is prompting the development of innovative mooring ropes with enhanced dimensions and appearances.
On the basis of materials, the polyester segment holds a substantial share in the mooring ropes market. This can be attributed to the high-level strength of polyester mooring ropes that provide non-stretchable properties and the capability to withstand stress under the water, higher melting point, endurance to UV rays and scratches, and excellent shielding properties.
Geographically, North America accounts for a sizable share in the market for mooring ropes, propelled by the growing demand for mooring ropes from inland shipping and marine sectors. In the forecast period, the Asia Pacific region is likely to observe progress owing to the growing fishing activities in South Korea, Japan, China, India, and Sri Lanka.
Key Market Players
The major players in the global mooring ropes market are Dynamica Ropes ApS, Folch Ropes S.A., Jimmy Green Marine Limited, Katradis Marine Ropes Ind. S.A., and Marlow Ropes Limited, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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