The webbing market is projected to reach US$ 1745. 84 million by 2028 from US$ 1,195. 35 million in 2020; it is expected to grow at a CAGR of 5. 1% from 2021 to 2028. Webbing is a strong woven fiber available in flat strips or tube form; it is used as a substitute of rope.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Webbing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Product, and End Use" - https://www.reportlinker.com/p06130882/?utm_source=GNW
Conventionally, webbing is produced using cotton and silk, however, polymer, nylon, and polyester are replacing the traditional materials. Webbing is known for its properties such as convenience, tensile strength, and chemical resistance; it can be used as a replacement of steel wires, ropes, or chains in various industrial applications. Webbings are significantly used in military apparels, parachutes, climbing, automotive textile, fire safety gear, military goods, harnesses, packs, hiking gear, and others. Other than this, webbing is extensively used to produce protective equipment for oil & gas workers.
On the basis of end-use, the webbing market is categorized into aerospace, automotive, military, industrial and safety, fashion accessories, E-textile, sport goods, marine, medical and others.In 2021, the automotive segment accounted for the largest market share.
Webbing is a significant component ofly manufacturing of used in preparation of production of seat belts, safety harnesses, pull straps;, edge binding for convertible tops;, straps and binding for luggage nets;, catch belts for airbags; and other such products in automotive industry so on.Rise in demand for vehicles in developing economies such as India and China are expected to proliferate is supporting the growth of the market.
For instance, according to the Global status report on road safety, the rising focus towards growing important and awareness about wearing a seatbelt to minimize the risk of a fatality among front seat passengers and rear-seat passengers has promoted the demand for webbing. Additionally, the significant growth in automotive industry is expected to complement the growth of webbing market
The webbing market is segmented into five main regions—North America, Europe, Asia Pacific, Middle East & Africa , and South America .Asia Pacific would hold the largest share of the market in 2021.
The dominance of this region in the global market is primarily attributed to the presence of strong industrial sector, including the manufacturing units of several prominent enterprises.The demand for webbing is high in verticals such as automotive, aerospace & defense, industrial and safety, fashion accessories, textile, and sports goods.
Further, the rise in investments in the manufacturing sector provides lucrative opportunities for the growth of the webbing market in Asia Pacific. Favorable policies implemented by the government of India such as Atmanirbhar Bharat and Make in India are expected to create sufficient growth opportunities for the diverse industrial bases, which, in turn, would boost the consumption of webbings in the region.
A few of the major key players operating in the webbing market are American Cord & Webbing Co., Inc.; Bally Ribbon Mills; Belt-tech.; E. Oppermann GmbH; Murdock Webbing Company; Inc.; Narrowtex Australia; National Webbing Products Co.; Ohio Plastics Belting Co; Ribbon Webbing Corp; and Tennessee Webbing Products. These market players are highly focusing on the development of high-quality and innovative product offerings.
The size of overall webbing market has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the webbing market.
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