July 12, 2024

Propelled by Increasing Fish Production, Global Trawl Ropes and Nets Market Estimated to Reach US$ 381.32 Million by 2023

The global trawl ropes and nets market plays a crucial role in the fishing industry by providing strong and durable ropes and nets to trawl fishing vessels. Trawl ropes and nets are used in trawl fishing vessels to catch fish and are suitable for dragging and trawling operations. They are made from high strength fibers such as nylon, polyester, polypropylene and blended yarns depending on the requirement. Trawl ropes and nets are manufactured to withstand rough sea conditions and heavy weight fish hauls.

The global trawl ropes and nets market is estimated to be valued at US$ 359.05 million in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing fish production across the globe is expected to propel the growth of trawl ropes and nets market over the forecast period. According to the Food and Agriculture Organization (FAO), global fish production reached 203.1 million tons in 2022, an increase of around 1 percent from 2021. High fish production requires strong nets and ropes for effective trawling operations which is driving the demand for trawl ropes and nets. Developing regions such as Asia pacific, Latin America and Africa are witnessing increasing fish production annually which will boost the trawl ropes and nets market during the forecast period.

SWOT Analysis
Strength: Trawl ropes and nets are essential for fishing industry and have steady demand. They are durable, high strength and allow efficient fishing operations.
Weakness: Limited manufacturing capacities in some regions lead to supply challenges. Fishing regulations can impact availability of certain materials for nets.
Opportunity: Growth in seafood trade globally increases demand for fishing gears. Adoption of modern trawl nets with new designs and materials opens up opportunities.
Threats: Competition from synthetic substitutes. Stringent environmental laws around plastic waste disposal pose challenges.

Key Takeaways

The global trawl ropes and nets market is expected to witness high growth. The global trawl ropes and nets market is estimated to be valued at US$ 359.05 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.

The Asia Pacific region currently dominates the global trawl ropes and nets market with largest market share. Countries like China, Vietnam, India have large fishing industries and import significant volumes of trawl gears. The demand is driven by growing seafood trade and exports from the region. European countries like Norway, UK, Netherlands are other major markets aided by large fishing fleet sizes.

Key players
Key players operating in the trawl ropes and nets market are Koninklijke DSM N.V.,Jaya Nets Sdn. Bhd,Nitto Seimo Co., Ltd,Hampidjan Group,Carlsen Net A/S,King Chou Marine Technology, Azuka Synthetics LLP,LFS Inc.,Akvaservis,Asia One Marine (HK),AIMI Ltd (UK). The market is fairly consolidated with top players catering to commercial scale fishing vessel requirements. Leading companies focus on expanding product portfolio with latest materials and designs.