Conducted by Global Industry Analyst's latest research shows that when the case might be weak overall global wire rope industry, Chinese rope contrarian slight increase in demand over the next six years.
Rope is largely determined by demand elasticity downstream industrial users, construction and engineering machinery dynamically determine the global demand for steel wire rope, wire rope because they represent the key end markets. Global steel wire rope market in 2011 was valued at $ 21.7 billion by 2017 will reach $ 27.9 billion. In 2011, the Asia-Pacific region is the world's largest market for wire rope, reaching $ 13 billion, while the Chinese market, which accounted for the lion's share.
Because of the rigid demand of Asian countries, their economies recover quickly from the recession in 2009. In the long term, due to the great demand in China's huge consumer groups and infrastructure are pulling driven economic growth will drive the demand for downstream products.