Fender ropes are essential nautical equipments used to absorb impact and prevent vessels from colliding with quay walls, jetties and other ships during berthing operations. Made from durable fibers such as polypropylene, nylon and polyester, fender ropes provide protection to ships in ports. With growing international seaborne trade and expansion of port capacities, the demand for fender ropes has surged over the years.
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:
Rising maritime trade: Growth in international seaborne trade volumes has been a major driver promoting investments in port infrastructure development across major trade hubs. Expanding trade routes and rising cargo transport via sea has augmented the number of berthing and cargo handling operations at ports. With increased ship traffic, the demand for fender ropes from shipping fleets and port authorities is surging to ensure safety during vessel movement and cargo transfer. Rapid infrastructure expansion at emerging ports to facilitate rising trade is slated to propel the fender rope market during the forecast period.
Strength: Fender rope has high strength and durability which enables it to withstand weathering conditions and abrasion. It also has high resistance to chemicals and moisture oxidation.
Weakness: Fender rope installation requires skilled labor and high maintenance. Initial investment cost is also high for purchasing strong and high quality fender ropes.
Opportunity: Growing maritime trade and increasing number of commercial vessels provide growth opportunity for fender rope market. Port infrastructure development especially in developing countries boosts market growth.
Threats: Availability of substitute products like polymer fenders and tires pose threat to fender rope market. Economic slowdowns negatively impact maritime trade and affect market demand.
The global fender rope market is expected to witness high growth.
Regional analysis: Asia Pacific region dominates the global market and is expected to grow at the fastest pace during the forecast period. Growth in this region can be attributed to increasing import and export activities through ports in countries like China, India and Japan.
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. Among these, Samson Rope Technologies, Inc., Novabraid and New England Ropes collectively account for over 30% of the global market share. These key players focus on new product launches and expansion strategies to strengthen their market position.