February 24, 2024

The Fender Rope Market is Expected to be Flourished by Increasing Demand from Growing Marine Transport Industry

Fender ropes are specialty type of mooring ropes that are used to safeguard ships, boats and other marine vessels against impact damage when berthed alongside docks, wharfs, jetties and other marine structures. Fender ropes made of natural and synthetic fibers like polypropylene, nylon and polyester offer greater elasticity and resilience to absorb energy during contact between vessel and infrastructure. They are available in various sizes and strengths depending on vessel size and sea conditions. Ropes up to 12 inches in diameter are commonly used in commercial ship docking. 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 Dynamics:

The Fender Rope Market is expected to be flourished by increasing demand from growing marine transport industry. Marine transport of goods across oceans and inland waterways is a vital part of global economy. Rapid urbanization and international trade has augmented the international cargo traffic in recent years. This has necessitated modernizing and expanding global port infrastructure to handle bigger cargo volumes efficiently. Growing marine vessel fleet size is also augmenting the demand for specialized fender ropes from shipping industry. Furthermore, fender ropes made of advanced material like polypropylene offers longer lifespan, UV resistance and elasticity for better energy absorption over natural fibers. This is gaining popularity among commercial ship operators driving the Fender Rope Market growth over the forecast period. However, fluctuations in raw material prices remains a key challenge for established players to maintain profitability.

Segment Analysis

The global fender rope market is dominated by the marine segment which accounts for around 60% of the market share. Fender ropes are widely used in marine applications for berthing ships, boats and other vessels. They provide protection to vessels from damage during docking by absorbing kinetic energy on impact between the vessel and dock. The marine segment is dominating due to increasing maritime trade activities worldwide resulting in greater demand for shipping vessels which require fender ropes for safe berthing operations.

PEST Analysis

  • Political: Increased globalization and trade agreements have promoted maritime trade positively impacting the demand for shipping vessels and fender ropes.
  • Economic: Growing world economy has accelerated global maritime trade and transportation of goods via ships driving the need for effective berthing equipment like fender ropes.
  • Social: Rising demand for imported consumer goods and materials has augmented seaborne trade volumes necessitating more shipping vessels and associated berthing products.
  • Technological: Advancements in high strength synthetic fibers used for rope manufacturing have enhanced durability and load bearing capacities of modern fender ropes.

Key Takeaways

The global fender rope market is expected to witness high growth over the forecast period supported by expanding international commerce and goods transportation via ships. The marine segment dominates the market attributable to extensive application of fender ropes for safe mooring of various vessels.

Regionally, Asia Pacific holds the leading market share and is anticipated to grow at a higher pace compared to other regions owing to presence of busiest ports and largest shipping fleets in countries like China and India.

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. Key players are focusing on manufacturing cost effective and durable fender ropes utilizing advanced fibers to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it