Steel Wire Rope & Plastic Rope Market Report Scope & Overview:

The Steel Wire Rope & Plastic Rope Market was estimated at USD 13.99 billion in 2023 and is expected to reach USD 24.85 billion by 2032, with a growing CAGR of 6.59% over the forecast period 2024-2032. This report offers a unique lens into the Steel Wire Rope & Plastic Rope Market by analyzing regional production trends, capacity utilization patterns, and application-specific breakage and replacement rates. It explores how technological integration, such as smart coatings and RFID tagging, is reshaping manufacturing and lifecycle monitoring. The trade flow analysis uncovers shifting dynamics in global rope distribution networks. Additionally, emerging trends like bio-based plastic ropes and predictive maintenance technologies provide forward-looking insights beyond conventional market assessments.

The U.S. commercial refrigeration market is expected to grow significantly, reaching USD 4.29 billion by 2032 from USD 2.34 billion in 2023, at a CAGR of 6.98%. This growth is fueled by the rising need for energy-efficient refrigeration solutions and the expansion of supermarkets and food service chains. Additionally, the growing demand for cold storage in pharmaceuticals and food distribution is boosting market development.

Market Dynamics

Drivers

• Growing commercial and offshore fishing activities, especially in Asia-Pacific and North America, are driving demand for durable steel wire and plastic ropes in marine applications.

The rising demand from the marine and fishing industries is significantly driving the growth of the steel wire rope and plastic rope market. These ropes are used for critical marine operations such as mooring, towing, anchoring, and lifting. As commercial and offshore fishing activities are growing around the world, especially in Asia-Pacific and North America, demand for strong and corrosion-resistant ropes is rising. Steel wire ropes are used due to their strength and load-bearing capacity, but plastic ropes are lighter, more flexible, and resistant to salt and UV exposure. This trend is underpinned by growing coastal economies, the modernization of fleets, and greater investment in offshore aquaculture and marine infrastructure. It is also following industry trends, with the market moving towards better-performing hybrid and synthetic alternatives. With the global marine sector continuing its growth, the rope industry is well-positioned for steady growth, with significant opportunities at the forefront of sustainable & futuristic technologies.

Restraint

• Volatility in steel and polymer prices raises production costs and squeezes profit margins for rope manufacturers.

Fluctuating raw material prices significantly impact the steel wire rope and plastic rope market, affecting both production costs and overall profitability. Steel prices hinge on the likes of global demand, mining regulations, and geopolitical tensions, while synthetic polymers that go into plastic ropes are tethered to the volatility in crude oil prices. These swings create uncertainty for manufacturers and challenge their ability to forecast costs and manage margins. This can lead to complexities with pricing models, inventory rot, and long-term contracts for the company. The effect is particularly pronounced in emerging markets where price-sensitive customers account for most of the market. Nevertheless, the market is projected to grow at a steady rate due to the demand from the marine, construction, and energy sectors. One important trend that we are already able to detect in the energy industry is to focus on alternative materials and optimize their supply chain to avoid risks. Long-term contracts with suppliers; investments in recycling and material innovation are now increasingly important strategies to counter the instability of raw material prices.

Opportunities

• The growing offshore wind energy sector is boosting demand for durable steel wire ropes used in turbine installation and maintenance.

The expansion of the renewable energy sector, particularly wind energy, is creating significant opportunities for the steel wire rope market. Offshore wind farms are explicitly taking off because their promise of energy generation is a huge one, with a continuous wind supply. These installations are faced with the need for high tensile ropes that should be corrosion resistant and durable for lifting turbines, laying cables, maintenance, and anchoring floating structures. The operations utilizing steel wire rope in fishing and marine are preferred for their strength and durability, making them well-suited to withstand the harsh marine environments. With governments and private players investing heavily in offshore wind to meet their sustainability goals, demand for high-performing lifting and rigging products will continue to grow. Therefore, the growing emphasis on energy transition and lowering carbon emissions across the world will lead to further expansion of renewable infrastructure and expansion of the steel wire ropes market in wind energy applications. This provides a rewarding growth opportunity for market participants.

Challenges

• Logistical and supply chain disruptions delay raw material procurement and product delivery, increasing costs and impacting market stability.

Logistical and supply chain disruptions pose a significant challenge to the steel wire rope and plastic rope market. These disruptors come from diverse global occurrences, including trade barriers, labor shortages, geopolitical wars, and congestion in transportation. These problems impact the timely procurement of raw materials such as steel, polymers, and synthetic fibres, resulting in production postponements and growing operational costs. Port congestion, shortage of containers & uncertain freight rates add to the problem by disrupting the delivery of finished products to end-users of industries like construction, marine, oil & gas, and mining. Additionally, manufacturers and distributors are struggling to keep inventory high enough to meet the orders they receive, risking lost sales and tense relationships with customers. The aftershock of these new sustainability regulations has made the market increasingly prone to external shocks, showing the need for adaptive sourcing strategies and diversified logistics networks. With supply chain uncertainties continuing, businesses are looking to bolster their regional supply base and increase supply chain transparency.

Segmentation Analysis

By Type of Lay

The regular lay segment dominated with a market share of over 68% in 2023. Lay ropes are not as good as this type of rope, for layouts lead to higher resistances to crushing, inherent twist resistance, and excellent spooling properties. All these elements improve the stability and operability of the UAV in challenging environments. The regular lay ropes are widely used in industries and crane operations, mining, oil and gas, and construction, marine and fishing industries, where strength and safety are very important. Increasing adoption and rapid market growth of the global heavy-duty lug nuts & bolts are primarily influenced by their structural design and ease of handling.

By Material Type

The polypropylene segment dominated with a market share of over 42% in 2023.  It is benefiting from significant advantages as a low-weight, great buoyant, and economical material, and is particularly suitable for marine, fishing, and aquaculture. Poly ropes also aren't susceptible to rot, mildew, or most chemicals, which prolongs their use in extreme environments. They have made polypropylene the material of choice in operations like coastal applications and industries where ease of handling and flotation matter. It is also easy to get and making it is not too expensive, which makes it widely used in many industries. Consequently, polypropylene remained the largest rope material in terms of volume and value in the worldwide rope market.

By Application

The Industrial & Crane segment dominated with a market share of over 32% in 2023. This is mainly attributed to the application of steel wire ropes in heavy-duty applications where strength, durability, and wear and tear resistance are essential. These ropes are widely used in industries including construction, logistics, and manufacturing for operations such as tower cranes, cable dredgers, and rotary drilling rigs. The ropes give the required aid and load-hauling capacities needed for lifting and material handling in serious conditions. These factors have made them essential in any industry, including crane-related tasks, therefore helping industrial and crane applications dominate the market and help grow the market globally.

Regional Analysis

The Asia-Pacific region dominated with a market share of over 48% in 2023, owing to its strong industrial foundation, rapid urbanization, and continuous infrastructure development. The top contributors from countries such as China, India, Japan, and South Korea are experiencing high demand from construction, mining, shipping, oil & gas, and various other end-use industries. With a long coastline, the area has a vibrant marine and fishing industry, complementing the increased demand for durable and high-performance ropes. Also, massive investment in infrastructure projects and heavy industries maintains robust consumption. Government initiatives, abundant raw materials, and low product costs have also been working in  favor of this region. In summary, the diverse industrial activities of Asia-Pacific and the economic growth rate are the major factors for the same market.

North America is emerging as the fastest-growing region in the Steel Wire Rope & Plastic Rope Market, due to various reasons. Increased activities in offshore oil and gas exploration across the region are driving the need for high-strength ropes utilized for drilling, construction, and rigging operations. Furthermore, growing investments in the construction and infrastructure sector, such as bridges, highways, as well as commercial buildings, are augmenting the need for durable and high-performance rope materials. Moreover, the defense and aerospace sectors are also aiding the market expansion, as a few of the sectors have advanced ropes that can be used in heavy lifting, securing cargo, and a few other crucial applications. On the other hand, stringent safety and performance standards, along with technological innovations, are further driving the adoption of steel wire and plastic ropes across several industrial and commercial segments in North America.

Some of the major key players in the Steel Wire Rope & Plastic Rope Market

• Cortland Limited (U.S.) – (High-performance synthetic ropes, mooring lines, custom-engineered rope solutions)

• WireCo WorldGroup Inc. (U.S.) – (Steel wire ropes, synthetic ropes, electromechanical cables)

• Samson Rope Technologies (U.S.) – (High-strength synthetic ropes, mooring lines, towing ropes)

• Southern Ropes (South Africa) – (Marine ropes, arborist ropes, industrial synthetic ropes)

• English Braids Ltd. (U.K.) – (Rigging ropes, winch ropes, performance marine ropes)

• Marlow Ropes (U.K.) – (Yachting ropes, defense ropes, arborist and access ropes)

• Teufelberger Holding AG (Austria) – (Steel wire ropes, fiber ropes, tree care and industrial climbing ropes)

• Bekaert SA (Belgium) – (Steel wire ropes, tension cables, mining ropes)

• Usha Martin (India) – (Steel wire ropes for mining, oil & gas, elevators, and cranes)

• Gustav Wolf GmbH (Germany) – (Galvanized steel wire ropes, elevator ropes, cable ropes)

• Bridon-Bekaert Ropes Group (U.K.) – (Offshore ropes, mining ropes, crane ropes)

• Kiswire Ltd. (South Korea) – (Steel wire ropes for automotive, construction, and marine use)

• Tokyo Rope Mfg. Co., Ltd. (Japan) – (Steel wire ropes, PC steel bars, synthetic fiber ropes)

• Yale Cordage (U.S.) – (Synthetic ropes for industrial, military, and marine applications)

• DSR Corp. (South Korea) – (Steel wire rope, synthetic fiber ropes, marine ropes)

• Juli Sling Co., Ltd. (China) – (Steel wire rope slings, synthetic slings, rigging products)

• Katradis Marine Ropes Ind. S.A. (Greece) – (Mooring ropes, synthetic fiber ropes, towing lines)

• Garware Technical Fibres Ltd. (India) – (Synthetic ropes for marine, aquaculture, and industrial uses)

• Brugg Lifting AG (Switzerland) – (Steel wire ropes for elevators, ropeways, and cranes)

• Touwfabriek Langman (Netherlands) – (Natural and synthetic ropes, decorative and functional ropes)

Suppliers for (High-performance steel wire ropes for offshore, mining, and elevator systems) on the Steel Wire Rope & Plastic Rope Market

• WireCo WorldGroup

• Bridon-Bekaert The Ropes Group

• Teufelberger

• Kiswire Ltd.

• Usha Martin

• Tokyo Rope Manufacturing Co., Ltd.

• Jiangsu Fasten Company Limited

• Southern Ropes

• Marlow Ropes

• Cortland Limited

Recent Development

• In March 2025, Brugg AG is partnered with Ukraine's Terpolimergaz to establish a joint venture in Ternopil, producing PEX plastic pipes for heating systems. The €7 million investment aims to introduce advanced PEX technology and reduce Ukraine's reliance on imports.