The Latin America, Middle East and Africa Rope Market would witness market growth of 7.9% CAGR during the forecast period (2023-2030).
Plastic Rope has the potential to grow in popularity for various applications in the future. The market has benefited from improved production of plastic ropes and material science research and development since raw material qualities have improved. Maritime transportation is a significant portion of logistics. As a result, expanding marine trade and transportation influences macroeconomic variables. Mooring rope, constructed of various materials with unique properties that make it either excellent or undesirable for a range of uses found aboard a vessel, is manila rope or a synthetic material like nylon widely used in the maritime sector.
These days, mooring ropes are often used for ship launching, maritime salvage, and heavy transportation, with ship launching being their most common purpose. Using airbags makes it unnecessary to utilize tows and tugs as launching and landing aids. Mooring ropes adhere to strict quality control regulations and are reinforced with synthetic rubber layers. Mooring ropes are made up of three main components: an airbag body, an airbag mouth, and an airbag head. It is regarded as a more potent and sophisticated instrument for many maritime undertakings, such as heavy transportation, disembarking ships, and re-floating salvage.
The UAE is thought to hold the seventh-biggest proven natural gas reserves in the world, with a combined total of more than 215 trillion cubic feet, according to figures from the U.S. Energy Information Agency. The UAE announced in 2020 that it had discovered gas reserves in Jebel Ali totaling more than 80 trillion cubic feet. The country aspires to be self-sufficient in gas by 2030. The UAE imports natural gas from Qatar to feed power plants and desalination facilities via the Dolphin pipeline. To investigate the possibility of producing blue and green hydrogen for export, Mubadala Investment Company, Abu Dhabi Holding (ADQ), ADNOC, and the Ministry of Energy and Infrastructure established the Hydrogen Alliance in 2021. In order to manage the challenging duties involved in well logging, sampling, and intervention operations, these wirelines are made of steel or synthetic ropes, which provide the necessary strength and flexibility.
The Brazil market dominated the LAMEA Rope Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $312.5 million by 2030. The Argentina market is exhibiting a CAGR of 8.5% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.6% during (2023 - 2030).
Based on Product, the market is segmented into Steel Wire, Synthetic, Cotton, and Others. Based on End User, the market is segmented into Industrial, Commercial, and Residential. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Rope Market is Projected to reach USD 19.7 Billion by 2030, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bridon-Bekaert Ropes Group (Bekaert Group), Cortland Limited (Enerpac Tool Group), Marlow Ropes Ltd., WireCo WorldGroup, Inc., Yale Cordage, TEUFELBERGER Holding AG, English Braids Ltd., Southern Ropes, van Beelen Group BV and Dynamica Ropes ApS (Netmark Holding).
By Product
By End User
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
