Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Ultra-high molecular weight polyethylene is a subset of the thermoplastic polyethylene also known as high-modulus polyethylene (HMPE). It has extremely long chains with molecular mass between 3.5-7.5 million amu. It is odorless, nontoxic and tasteless and tough material used to make UHMWPE ropes. Ultra-high molecular weight polyethylene ropes offer a high level of security and protection for the anchorage of the tanker vessels. UHMWPE ropes are small in volume, which make them suitable for easy storage and easy handling. This rope does not permit any chemical reaction and attack in marine and is used for industrial applications. Moreover, UHMWPE ropes possess a unique anti-microbial and moisture-resistant properties, making them suitable for the use in sails, cables, and rigging in yachting and lifting slings.
Market Dynamics-Drivers
Growing demand for the ultra-high molecular weight polyethylene rope in ports, marine, and aerospace industry worldwide is expected to drive growth of global ultra-high molecular weight polyethylene ropes market during the forecast period. Ultra-high molecular weight polyethylene ropes are used as a mooring rope and yachting rope in marine industry, which has gained significant traction in the recent past. Moreover, growth in these industries is expected to make a positive impact on the market. For instance, according to U.S. Department of Commerce's International Trade Administration, in 2016, the China aerospace industry was valued at US$ 7,859 million, which increased to US$ 8,274 million in 2017. Moreover, it is a huge gaining popularity in the aerospace industry, owing to unique physical and chemical properties of ultra-high molecular weight polyethylene ropes such as high strength, corrosion resistance, wear resistance, flexible, light-weight, and high safety performance.
Request to Get the PDF Sample of the Report: https://www.coherentmarketinsights.com/insight/request-pdf/1834
However, availability of alternatives such as polyester and polypropylene and high cost of the UHMWPE rope is expected to restrain growth of the global ultra-high molecular weight polyethylene ropes market in the near future. For instance, Naroc Rope Tech offers Bell Mix rope, which is a compound rope made from polyester yarn and high strength polypropylene yarn, in order to increase the strength of the rope. Therefore, easy availability of such substitute products is expected to hinder the market growth
Market Outlook
On the basis of application, in 2016, marine industry segment accounted for the largest market share in global ultra-high molecular weight polyethylene ropes market. UHMWPE rope can float in water and it has low stretch properties that offer greater sensitivity and easy handling. UHMWPE rope is also used as a substitute to wire and steel rope in anchoring line of tanker vessels, ship assist lines, and pennant lines for offshores rigs.
On the basis of type, in 2016, 12 stranded ultra-high molecular weight rope segment significant growth in the market and is expected to maintain its dominance during the forecast period. This growth is attributed to its excellent vibration damping and low friction co-efficient, making it popular in shipbuilding, ocean transportation, and military & defense industry. For instance, in 2017, Katradis Marine Ropes Ind. S.A. Company introduced new product NIKA-Siri X-12 ropes for application of mooring, ship to ship (STS) operation. NIKA-Siri X-12 are high module UHMWPE 12 strand ropes, which are cost-effective and over-braided ropes. It aids in decreasing anchoring & towing operating times and also lowers labor requirement in various operations.
Among regions, Asia Pacific is estimated to witness the fastest growth in the global ultra-high molecular weight polyethylene ropes market over the forecast period. Moreover, rapid growth in aviation industry is expected to drive growth of the global ultra-high molecular weight polyethylene market in emerging economies such as India and China. For instance, according to India Brand Equity Foundation (IBEF), in January 2017, India became the world's fastest growing domestic travel market recording a 26.6% year-on-year growth, which has boosted the demand for aviation industry goods, which includes UHMWPE ropes.
Competitive Landscape
Key players are focused on various growth strategies such as partnerships, joint ventures, and mergers and acquisition, in order to enhance their market presence. For instance, in 2012, WireCo World Group Inc., a company focused on producing and marketing of rope and cable, acquired Royal Lankhorst Euronete Group, to develop synthetic rope. Furthermore, in March 2014, Samson and The Manitowoc Company jointly launched Manitowoc's Grove RT770E rough-terrain mobile crane, which features the first fully synthetic hoist rope designed specifically for mobile cranes.
Key companies operating in the global ultra-high molecular weight polyethylene rope market include Liros Gmbh, Dyneema, Thanawala & Co, Cousin Trestec, Atlantic Braids Ltd, New England Ropes, Miami Cordage, Lankhorst, Katradis, Samson, Bridon, Ropesling, Southern Ropes, and others
Buy This Complete A Business Report: https://www.coherentmarketinsights.com/insight/buy-now/1834
Market Taxonomy
On the basis of product type, the global ultra-high molecular weight polyethylene rope market is segmented into:
- 3 Strand
- 8 Strand
- 12 Strand
On the basis of application, the global ultra-high molecular weight polyethylene rope market is segmented into:
- Aviation
- Marine
- Mining
- Military
- Others
On the basis of region, the global ultra-high molecular weight polyethylene rope market is segmented into:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.