 |
| Webbing Market |
The global Webbing Market is estimated to be valued at US$ 941.85 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Webbing refers to narrow fabric belts or tapes made of nylon, polyester or
other synthetic fibers. They are known for their high strength and durability.
Webbing finds extensive applications in belts, sports accessories, military
equipment, harness and safety products due to their ability to bear heavy
weights.
Market key trends:
One of the key trends in the webbing market is growing demand for polyester
webbing. Polyester webbing holds advantages over nylon such as high resistance
to corrosion, mildew and abrasion. It also imparts excellent durability and
strength. Increasing use of polyester webbing in manufacturing of seat belts
and safety harnesses for construction, mining and other industrial sectors is a
major factor driving growth of polyester webbing segment. Moreover, polyester
is significantly cheaper than nylon which further complements its adoption.
This trend towards polyester webbing is expected to continue and help drive the
overall webbing market growth during the forecast period.
Segment Analysis
The global webbing market is segmented into material, application, and region.
Based on material, the market is divided into nylon, polyester, polypropylene,
carbon fiber, para-aramid fiber, ultra-high-molecular-weight polyethylene
(UHMWPE), and others. Nylon currently dominates the market due to its high
durability and strength. By application, the market is categorized into
automotive, sports & outdoors, industrial, military/defense, and others. The
sports & outdoors segment accounts for the largest share as webbing
materials are widely used in various sports gears like climbing ropes,
backpacks, and more.
Key Takeaways
The global Webbing
Market Growth is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period,
due to increasing adoption in automotive and sports industries.
The Asia Pacific region is expected to be the fastest growing market for
webbing during the forecast period. This is attributed to the thriving automotive,
textile, and sports industries in emerging economies like China and India.
Countries in this region also have major manufacturing bases which are boosting
the demand for webbing materials.
Key players operating in the webbing market are American Cord & Webbing
Co., Inc. (ACW Co., Inc.), E. Oppermann GmbH, Belt-tech, Narrowtex Australia
Pty Ltd, Jiangsu Daxin Webbing Co., Ltd., Ohio Plastics Belting Co, National
Webbing Products., Murdock Webbing Company, Inc., Tennessee Webbing Products,
and Bally Ribbon Mills. These players are focusing on product innovation and
expansion in lucrative markets to gain a competitive advantage. For instance,
American Cord & Webbing launched X靶 Series webbing with microCUT technology for cutting-edge
performance in tactical gear and outdoor apparel.
For more insights, read- https://www.ukwebwire.com/webbing-market-trends-size-and-share-analysis/
Comments
Post a Comment