logo
logo
Sign in

The Demand for Safe Mooring Drives Growth in the Global Fender Rope Market

avatar
Lucy Kart
The Demand for Safe Mooring Drives Growth in the Global Fender Rope Market

The global Fender Rope Market is estimated to be valued at US$ 492.6 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fender rope, also known as mooring rope or berthing rope, is a specialized type of rope used to absorb the impact of boats docking and berthing. It is designed to stretch and absorb the shock of the impact, protecting both the boat and the dock. Fender ropes have a high tensile strength to withstand the forces of waves and wind without breaking. They are made of durable fibers such as polypropylene, polyester, or nylon that do not absorb water and withstand impact well. The use of high-quality fender ropes ensures safe and secure mooring of boats in harbors, marinas, ports and other water terminals.

Market key trends:

One of the key trends in the fender rope market is the growing demand for composite and hybrid ropes. Composite ropes such as Technora and Vectran combine the high tensile strength of synthetic fibers with the elongation properties of natural fibers. They offer durability with enhanced energy absorption. Hybrid ropes consisting of polyester and polypropylene strands provide high impact resistance with cost benefits. Manufacturers are also developing ropes coated with non-abrasive and ultra violet resistant materials to withstand environmental degradation. Introduction of ropes in innovative colors and diameters further aids in applications ranging from commercial ships to smaller watercrafts. The availability of customized ropes catering to industry-specific requirements is also driving the demand in the global market.

Porter's Analysis

Threat of new entrants: The fender rope market requires high initial investments and established distribution channels which makes the threat of new entrants low.

Bargaining power of buyers: The bargaining power of buyers is high in the fender rope market as there are numerous established players offering similar products.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for manufacturing fender ropes such as polyester, nylon and polypropylene are commoditized.

Threat of new substitutes: The threat of substitutes is low as fender ropes made of synthetic fibers offer better performance compared to traditional materials.

Competitive rivalry: The competitive rivalry in the fender rope market is high due to the presence of numerous international and regional players.

Key Takeaways

Global Fender Rope Market Demand is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing maritime trade activities.

The Asia Pacific region dominated the global fender rope market in 2023 and is expected to witness the fastest growth during the forecast period. This can be attributed to the presence of leading maritime economies and growing transportation & logistics industry in the region.

Key players operating in the fender rope market are Samson Rope Technologies, Inc., Novabraid, New England Ropes, TEUFELBERGER Fiber Rope Corporation, Marlow Ropes Ltd., Langman Ropes, Southern Ropes, Lankhorst Ropes,Yale Cordage, Inc., FSE Robline, Gleistein Ropes, Hampidjan Group, English Braids Ltd., Gottifredi Maffioli, Liros GmbH. These players are focusing on new product launches and partnerships to gain competitive advantage in the market. 


Explore More- https://www.ukwebwire.com/fender-rope-market-future-forecast-and-analysis/

collect
0
avatar
Lucy Kart
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more