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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.
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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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