Dec 3, 2022   SOURCE: BusinessWire

Insights on the Fishing & Marine Ropes Global Market to 2027 - Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunities - ResearchAndMarkets.com

The "Fishing & Marine Ropes Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The fishing & marine ropes market is estimated to grow at a healthy CAGR of 4.0% during the forecast period to reach a value of US$ 1.1 Billion in 2027.

Ropes play the most vital part while carrying out fishing. Generally, there are two ways in which fishing is carried out i.e., purse seining and trawling. Purse seining is a non-selective fishing method that involves a surrounding net, called seine, which captures everything that comes into its surrounding.

Trawling, on the other hand, is the more common method of fishing. It entails pulling a fishing net, which is attached to a boat, through the water. Fishing nets are attached and handled through ropes from the boats. Furthermore, marine plays a crucial role in a country's economy as it opens opportunities for global trade. Ropes are used in the marine industry for mooring and tug and towing. Mooring is the process of anchoring a ship to a fixed or floating element using ropes.

The sudden outbreak of the Covid-19 pandemic frazzled the world, resulting in massive supply chain disruption, a halt in manufacturing and production activities, lockdowns, and food shortages affecting all aspects of economic activity. The fishing and marine applications were no exception.

Wire ropes used in the fishing and marine applications also witnessed a sharp decline in line with the industry average, falling by about 5% in 2020. However, as expected, the market recovered as the Covid-19 wave began to fade, with a 4.8% increase in 2021. Overall,

Companies Mentioned

  • Bridon-Bekaert (The Ropes Group)
  • Kiswire Ltd
  • DSR Wire Corp
  • Randers Reb International A/S
  • WireCo World Group

The fishing & marine ropes market is segmented into the following categories:

Fishing & Marine Ropes Market, by Application Type

Fishing

  • Fishing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Fishing (Sub-Application Analysis: Purse Seining and Trawling)

Marine

  • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Marine (Sub-Application Analysis: Mooring and Tug & Towing)

Fishing & Marine Ropes Market, by Raw Material Type

  • Steel Ropes (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Synthetic Ropes (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Fishing & Marine Ropes Market, by End-User Type

  • OE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Fishing & Marine Ropes Market, by Region

  • North America (Country Analysis: The USA, Canada, and Mexico)
  • Europe (Country Analysis: Russia, Norway, Iceland, Spain, and Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Indonesia, India, and Rest of Asia-Pacific)
  • Rest of the World (Country Analysis: Peru, Chile, and Others)

For more information about this report visit https://www.researchandmarkets.com/r/ym4zf7