Trawl ropes and nets are essential fishing gears used for trawling and dragging heavy nets along the seafloor to catch fish and other seafood. Trawl ropes help in towing fishing nets and regulate the depth and width of nets during trawling. Nets come in different designs, mesh sizes, and materials depending on the type of catch. Nylon, polyester, and polypropylene are commonly used synthetic materials for manufacturing ropes and nets owing to their strength, durability, and corrosion resistance. As commercial fishing continues to expand worldwide, the demand for high-quality and durable trawl ropes and nets has significantly increased.
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, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: Increased fishing expeditions across various regions present lucrative growth opportunities for players in the trawl ropes and nets market. According to recent projections, global fish production is expected to reach 204 million tons by 2030 to meet the rising demand for seafood globally. This uptick in fishing activities will propel the consumption of trawl ropes and nets for efficient trawling operations. Manufacturers can capitalize on this opportunity by developing advanced ropes and nets made from high-strength, abrasion-resistant, and UV-stabilized materials that can withstand harsh underwater environments and last longer. They should also focus on expanding their production capacities and distribution footprint across emerging fishing harbors to cater to the growing demand from commercial fisheries over the coming years.
Porter's Analysis
Threat of new entrants: Fishing nets and ropes require significant capital investments and specialized knowledge to manufacture. Established players enjoy economies of scale.
Bargaining power of buyers: Buyers have moderate bargaining power given product differentiation and availability of substitutes. However, compliance with regulations limits switching.
Bargaining power of suppliers: Suppliers of raw materials like nylon, polyester and cotton have low bargaining power due to availability of alternatives.
Threat of new substitutes: Synthetic nets made of nylon and polyester are gaining preference over natural fiber nets due to durability. However, regulations limit widespread adoption.
Competitive rivalry: The market is moderately competitive due to differentiation and compliance requirements. Players compete based on quality, innovation and service.
SWOT Analysis
Strengths: Synthetic materials like nylon and polyester provide durability and strength. Established brands enjoy brand recognition and compliance expertise.
Weaknesses: Switching costs associated with switching suppliers. Natural fiber nets less durable than synthetics.
Opportunities: Growth in ocean farming and fishing globally. Developing nations in Asia Pacific increasing seafood production.
Threats: Regulations on fishing gear limit overfishing. Climate change damaging aquatic ecosystems. Rising raw material costs.
Key Takeaways
The global trawl ropes and nets market is expected to witness high growth driven by rising seafood production and trade. The market size for 2023 is estimated at US$ 359.05 Mn.
Regional analysis: The Asia Pacific region dominates the market with countries like China, Thailand, and India being major seafood producers and exporters. The region is projected to grow at over 6% till 2030 due to expansion in maritime industries.
Key players: Key players operating in the trawl ropes and nets market include 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). These manufacturers offer differentiated and sustainable fishing gear solutions to meet regulations.
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