December 9, 2024

Global Trawl Ropes and Nets Market Is Driven By Growing Commercial Fishing Industry

Trawl ropes and nets are fishing nets that are dragged along the sea floor by commercial trawling vessels to catch bottom-dwelling fish and shellfish. They come in various sizes and mesh openings depending on the target catch. Trawl ropes connect the trawl nets to the fishing boat and allow them to be towed effectively over large ocean areas. They play a vital role in commercial fishing operations by helping boats efficiently capture high volumes of fish and seafood. The growing commercial fishing industry globally has led to significant demand for reliable and durable trawl ropes and nets that can withstand extreme pressures and weather conditions at sea.

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 key trends:
One of the key trends in the trawl ropes and nets market is the growing adoption of stronger synthetic materials like nylon and polyethylene instead of traditional natural fibers. Synthetic nets have several advantages like higher strength, lighter weight for easier hauling, and improved durability even in corrosive seawater. They can withstand rough weather and haul heavier loads compared to nets made from animal-based fibers. Their longer operational lifespan lowers overall fishing costs for commercial vessels. Another trend is the development of specialized trawl nets tailored for specific fisheries with customized mesh sizes, shapes, and rigging appropriate for different catch. This improves sorting efficiency and maximizes usability. Advanced netting designs have enhanced catch rates while reducing unintended bycatch of non-target species.

Porter’s Analysis
Threat of new entrants: New players can enter the trawl ropes and nets market with relative ease but creating brand reputation and establishing distribution network require high capital investment.
Bargaining power of buyers: Large fishing companies have significant bargaining power over suppliers due to their bulk buying capacity. They can negotiate on prices and demand better product quality.
Bargaining power of suppliers: A few global players dominate the supply side. Their technical expertise and economies of scale give them an upper hand in negotiations with buyers.
Threat of new substitutes: No direct substitutes exist for trawl ropes and nets. However, alternate fishing methods and materials pose indirect threat.
Competitive rivalry: The market is highly fragmented with presence of numerous global and regional players. Intense competition keeps prices and profit margins low for all participants.

Key Takeaways
The global trawl ropes and nets market is expected to witness high growth. Advances in material science will propel innovations while sustainable fishing practices will drive replacements and upgrades.

Regional analysis: The Asia Pacific region currently dominates the market backed by large fishing fleets in countries like China, Indonesia, and India. Europe is the second largest market due to strict regulations regarding fishing gear quality. North America is poised to grow at a steady pace.

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). These industry leaders continuously invest in R&D to develop superior products.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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