ALBANY, N.Y, Oct. 8, 2020 /PRNewswire/ — Webbing refers to sturdy fabric woven in a flat stripor tube form. This fabric is manufactured using a wide range of materials such as polypropylene, nylon, para-aramid synthetic fibers, ultra-high-molecular-weight polyethylene, carbon fibers, polyester, jute, or cotton. Depending on the material used in the manufacturing, webbing holds a wide variety of applications in several industries right from automotive parts to military apparel.
Analysts at TMR emphasize that the global webbing market is likely to grow at a CAGR of approximately 6% during assessment period of 2019 to 2027.The list of key factors that influence positively on the market growth includes increased number of technical textiles, advancement in the loom textile technology, and booming automotive industry.
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Key Findings of Webbing Market Report
- The global webbing market is foreseen to develop at CAGR of 6% in 2019–2027.
- The market is predicted to reach the valuation of ~US$ 1.2 Bn by 2027 end.
- Among all product types, flat webbing segment is estimated to gain highest demand avenues.
- Another product type segment, tubular webbing is expected to demonstrate steady growth during forecast period of 2019 to 2027.
- Among all materials, the man-made segment is expected to achieve highest market share.
- On regional front, Asia Pacific was dominant market region in 2018.
- The Asia Pacific webbing market is estimated to experience same growth trend during the assessment period.
- China is foreseen to be leader in the Asia Pacific market.
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Webbing Market: Key Driving Factors and Promising Avenues
- The global webbing market is expanding on the back of plethora of factors. One of the key factors supporting this market expansion is promising development in the shuttle loom technology. Presently, major companies engaged in the webbing market are utilizing advanced shuttle loom technologies, which use electronic elements and jacquard capabilities to boost the production.
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- Webbing is used for the production of a wide range of military soft goods including harnesses, cargo, seatbelts, packs, and hiking gear. Moreover, it is used to manufacture fire safety gears as well. Thus, growing demand for all these products is estimated to drive demand opportunities in the global webbing market.
- Webbing finds application in the production of protective equipment intended for oil and gas workers. As a result, increase in oil and gas activities across the globe is likely to support growth of webbing market.
- Towering demand for technical textiles and thriving automotive sector are some of the important factors that will boost growth of webbing market in 2019–2027.
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Webbing Market: Competitive Assessment
The global webbing market experiences intense level of competition among its players. Important factor attributed to this scenario is the presence of notable number of small as well as medium-sized regional enterprises working in it.
Major players in the webbing market are growing focus on incorporation of technological advancements. At the same time, several players are concentrating on their business expansion in new geographies. All these activities paint the picture of prodigious growth for the global webbing market during assessment period.
The list of important companies working in the webbing market includes Murdock Webbing Company, Inc., Bally Ribbon Mills, American Cord & Webbing Co., Inc, Southern Weaving, LLC, Universal Webbing Products Co., Ltd, Sturges Manufacturing Company, Webbing Products Pty Ltd, and National Webbing Products Co. (NWP).
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The Webbing Market can be segmented as follows:
- High-modulus Polyethylene
- Aramid Fibers
- Liquid Crystal Polymers Yarn
- Flat Webbing
- Tubular Webbing
- End Use
- Industrial & Safety
- Fashion Accessories
- Sport Goods
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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