by The fender rope market is witnessing considerable growth owing to its rising demand in shipbuilding and maritime activities. Fender ropes are extensively used for docking large ships and protecting them from damage during berthing. They minimize impact and prevent hull damage by absorbing energy during contact between vessels and structures. Fender ropes are made from durable materials like polypropylene, polyethylene, polyamide, and polyester which provide high tensile strength and resistance to corrosion from sea water. They require low maintenance and offer longevity. Fender ropes find myriad applications in guiding vessels safely alongside quays and berths. The global fender rope market is estimated to be valued at US$ 679.4 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 key trends:
One of the key trends witnessed in the fender rope market is the growing demand for lightweight ropes made from synthetic fibers. Marine transport operators are preferring ropes that are lighter in weight for ease of handling during port operations. Synthetic ropes made from materials like polyethylene and polypropylene provide tensile strength comparable to traditional manila and sisal ropes but are significantly lighter. Their resistance to environmental stressors like sea water, ultraviolet radiation, and abrasion further drives their popularity over natural fiber ropes. Their long service life reduces replacement and maintenance costs. Innovation towards development of ultra-high molecular weight polyethylene ropes with enhanced mechanical properties is expected to further catalyze the market growth over the coming years.
Porter’s Analysis
Threat of new entrants: Low barriers of entry helps new companies enter the market easily. However, established players have strong brand recognition and supply chain advantages.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and brand loyalty. They can negotiate on price easily.
Bargaining power of suppliers: A few global suppliers control the market. Their expertise and technological advantages increase their bargaining power over buyers.
Threat of new substitutes: Synthetic ropes pose a threat, but cannot match performance of natural fiber ropes for heavy load applications in shipping industry.
Competitive rivalry: Intense competition exists among existing players to increase market share. They differentiate based on durability, strength and customization.
Key Takeaways
The global Fender Rope market is expected to witness high growth.
Asia Pacific dominates the market currently due to large number of shipping ports and growth of offshore oil and gas industry. China, Japan and India are major consumers 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. Samson Rope Technologies and TEUFELBERGER Fiber Rope Corporation have largest market share due to wide product portfolio and global distribution network.
