Trawl Ropes and Nets Market: Harnessing Data Analytics for Precision Fishing Operations

Trawl Ropes and Nets Market: Harnessing Data Analytics for Precision Fishing Operations

Trawl ropes and nets are essential fishing equipment used to catch fish and seafood from seawater bodies. Trawl ropes are made from durable synthetic fibers like polyethylene, polypropylene, and nylon, which provide high tensile strength for towing fishing trawl nets. Trawl nets are net bags used to catch fish and come in a variety of mesh sizes based on the target catch. They find widespread adoption in commercial fishing due to their ability to efficiently harvest large quantities of fish and seafood. The global trawl ropes and nets market is estimated to be valued at US$ 359.05 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity

The rising fishing activities across the globe are fueling the need for high-quality trawl ropes and nets. According to the Food and Agriculture Organization (FAO), the global fish production increased from 146 million tons in 2000 to over 179 million tons in 2016 owing to the growing seafood demand and availability of advanced fishing techniques. The commercial fishing industry relies heavily on trawl gears for bulk harvesting of demersal and pelagic fish stocks. As a result, the demand for durable and efficient trawl equipment like ropes and nets from fishing vessel owners is surging continually. The increasing fish production is expected to drive the trawl ropes and nets market substantially over the forecast period.

Porter's Analysis

Threat of new entrants: Low barrier to entry as new players can enter the market easily but established players have strong brand recognition and distribution channels.

Bargaining power of buyers: Buyers have moderate bargaining power as they can choose from various domestic and international players but specialized equipment requires long term relationships.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials like nylon, polyester are globally available from numerous suppliers but specialized requirements create supplier dependencies.

Threat of new substitutes: Low threat as trawl ropes and nets have no close substitutes and fishing industry requires these specialized products.

Competitive rivalry: High as the market is fragmented with numerous global and regional players competing on pricing, quality, service and innovation.

SWOT Analysis

Strengths: Specialized products meeting regulatory and industry standards. Established production and distribution footprint benefits large players.

Weaknesses: Seasonal demand cycles add volatility. Exposure to regulations on fishing. Smaller players have limited resources.

Opportunities: Growth in global seafood trade increases demand. Innovation in materials can improve performance and sustainability.

Threats: Restrictions to expand fishing territories impacts demand. Low entry barriers allow new local challengers to emerge.

Key Takeaways

The global Trawl Ropes and Nets market is expected to witness high growth over the forecast period aided by increasing seafood demand and regulations on sustainable fishing.

Regional analysis: Asia Pacific due to sustainable fishing policies and growing middle class demanding seafood in China and India. Usage of fishing nets and other equipment are mandatory under regulatory environment ensuring continued demand growth.

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). Large multinational players focus on product innovation and expansion in high growth regions.