The webbing market has grown significantly, increasing from $4 billion in 2023 to $4.38 billion in 2024, with a CAGR of 9.4%. This growth is attributed to military applications, outdoor sports, safety equipment, automotive use, and fashion. The market is expected to continue its strong growth, reaching $6.28 billion by 2028, also with a CAGR of 9.4%. Key growth drivers include e-commerce demand, outdoor recreation market expansion, rising safety standards, innovations in material and design, and eco-friendly practices. Emerging trends include expansion in e-commerce, sustainable manufacturing, military application demand, smart textiles integration, and resilience to harsh conditions.
Major Driver In The Webbing Market
The upswing in automobile demand is a contributing factor to the growth of the webbing market. The increasing use of webbing in the automotive sector, encompassing applications like seat belt handles, safety harnesses, airbag catch bags, and securing car batteries, is anticipated to drive demand for webbing in the coming years. Projections from LMC Automotive estimate global car sales to reach 111 million by the end of 2032. Additionally, the Economist Intelligent Unit predicts a 15% rise in global new car sales and a 16% increase in commercial vehicle sales in 2021. The expansion of the automotive industry serves as a catalyst for the growth of the webbing market, shaping its trajectory in 2023, 2024, and 2028.
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Webbing Market Competitive Landscape
Autoliv Inc., ITW Nexus Advanced Material Components, Jiangsu Daxin Webbing Co Ltd., Glen Raven Inc., Jacquard Products LLC, NTX Group, Viking Web Corporation, Centrex Plastics LLC, Bally Ribbon Mills, Southern Weaving LLC, BioThane Coated Webbing Corp, Murdock Webbing Company Inc., American Cord and Webbing Co Inc., Belt Tech Inc., Oppermann Webbing Inc., Advantage Plastic Products Inc., Sturges Manufacturing Inc., Webbing Products Pty Ltd., Tennessee Webbing Products, Narrowtex Pty Ltd., National Webbing Products Co, Ohio Plastics Company, E. Oppermann GmbH, Narricot Industries L.P., Leedon Webbing Co Inc., Strait Manufacturing Services, Grosgrain and Nylon Webbing Corp, Cotton Webbing Co, Paramount Webbing Inc., Cleveland Webbing Mills Co
Key Webbing Market Trend
The launch of advanced textile products that increase functionality and productivity is a key trend in the webbing market. For instance, in October 2023, GALE Pacific, an Australia-based manufacturing company, launched eco-friendly PVC-free materials, such as Ecobanner, a printable fabric with 100% closed-loop recycling capabilities, and Apex, a waterproof solution designed for entertainment and hospitality settings.
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Webbing Market Segmentation
The webbing market covered in this report is segmented –
1) By Product: Nylon, Polyester, Polypropylene, Carbon Fibers, P-Aramid Fibers, Ultra-high-molecular-weight polyethylene (UHMWPE), Other Products
2) By Material: Natural, Man-made
3) By Application: Automotive, Military, Industrial, Sporting Goods, Other Applications
By Geography:The regions covered in the webbing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the webbing market in 2023.
The Webbing Global Market Report 2024 furnishes information about the global webbing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
