Published On : 7 January 2025
• The Asia Pacific HMPE (High Modulus Polyethylene) Ropes market size was valued at US$ 187.6 million in 2024 and is projected to reach US$ 256.3 million by 2030, at a CAGR of 5.3% during the forecast period 2024-2030.
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• The Asia Pacific HMPE ropes market is growing steadily, driven by demand from offshore oil & gas, shipping, and fishing industries. China leads with a 35% market share, followed by Japan at 25% and South Korea at 20%. In 2023, the marine industry consumed 50% of total production, with offshore oil & gas at 25% and industrial applications at 15%. The market experienced an 8% growth in demand for HMPE ropes in deep-sea fishing operations. Key players include Dongyang Rope Mfg. Co., Ltd. (South Korea) and Katradis Marine Ropes Ind. S.A. (Greece), collectively holding a 40% market share in the region.
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