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Global Webbing Market to Grow at a CAGR of 6% During 2021-2026, Aided the Robust Growth of the Automotive Sector

According to a new report by EMR titled, ‘Global Webbing Market Report and Forecast 2021-2026’, the market is expected to grow at a CAGR of 6% in the forecast period of 2021-2026 to reach a value of USD 5.2 billion by 2026.

Technological advancements such as the advent of the Internet of things (IoT) are not only transforming the industry but also are increasing the demand for smart textiles. The rising demand for webbing of smart textiles in vehicles, equipment, and the building is anticipated to boost the market growth further. Regionally, North America holds a significant share of the webbing industry. Countries, especially Canada and the United States, use webbing extensively in high-end products, consequently aiding the market growth. Moreover, the growing automotive sector in emerging economies such as Mexico is also augmenting the market growth. The growth of the apparel and textile industry in Mexico is also propelling the market growth. The Asia Pacific market is also witnessing robust growth owing to rapid industrialisation, urbanisation, and escalating per capita income in the region. The market is expected to hold a significant share of the webbing industry in the forecast period due to the increasing production in countries such as India and China.

Bally Ribbon Mills, one of the leading companies with end-use in the automotive and military industry, expanded the production of superior polyester webbing that is fully compliant with the Berry Amendment. It announced in June 2020 that this standard makes it ideal for use in military and defence activities. Moreover, it is also suitable to be used by DOD contractors manufacturing retractors, aircraft seat belts, tie downs, and restraining harnesses, along with other end use of products. Further, it can also be used by civilian agencies involved in a wide range of United States military procurement activities. Additionally, the webbings can be customised to modify performance properties and to optimise a design. The laboratories of the company further provide colour matching using spectrophotometer instrumentation to validate colour accuracy. The development of such innovative and advanced products is expected to boost the market growth.

Market Analysis by Products, Applications and Region:

  • The market, on the basis of product, can be divided into into nylon, polyester, polypropylene, carbon fibres, para aramid fibres, and ultra high molecular weight polyethylene (UHMWPE), among others.
  • Based on applications, the industry can be divided into automotive, military, sporting good, and industrial, among others.
  • The regional markets for webbing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The use of webbings in the production of hiking and camping equipment due to its high tensile strength is aiding the market growth.
  • The industry is being driven by the use of webbing in various sporting applications and the growing focus on sports for physical and emotional well-being.
  • The growth of the automotive sector and the use of webbing in manufacturing seat belts and harnesses are propelling the market growth.
  • Technological advancements such as shuttle loom technology boost the production rate, which is catalysing the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global webbing market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of webbing.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for webbing are American Cord & Webbing Co., Inc., Bally Ribbon Mills, Murdock Webbing Company, Inc., Jiangsu Daxin Webbing Co., Ltd., National Webbing Products Co. (NWP), and NTX Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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