The webbing market was valued at US$2.835 billion in 2020 and is expected to grow at a CAGR of 7.36% over the forecast period to reach a total market size of US$4.660 billion by 2027.
Webbing is a solid woven fabric that comes in flat strips or tubes and can be used as a rope replacement. There are many varieties of webbing available on the market, with various weights, widths, and material combinations.
Webbing is utilised in a variety of applications, including furniture making, parachuting, towing, motor racing, climbing, load fastening, military clothing, slacklining, and automotive safety. Solid-weave fabric is used in backpacks and seat belts. Tubular webbing is utilised in a variety of industrial and climbing applications.
Increased outdoor activities among individuals, increased use of webbing in the automotive sector for the manufacture of airbags, catch belts, seat belts, safety harnesses, rigorous government regulations on seat belts in automobiles, and rising demand for sports goods such as runners, slings, and harnesses are some of the factors projected to drive the growth of the webbing market during the forecast period.
However, several varieties of webbing fabric like polyester are non-biodegradable, and tight government regulations on their use are expected to impede the webbing market’s expansion.
The Asia-Pacific region has the largest market share of the world’s webbing market. The automobile sector, particularly the commercial car segment in countries such as China and India, is driving the demand. According to the Indian Brand Equity Foundation, India was the fifth-largest auto market in 2020, with 3.49 million passenger and commercial cars sold combined. In 2019, it was the sixth-largest commercial vehicle manufacturer. Significant demand from the industrial sector, particularly for furniture and athletic equipment, is driving the increase in demand in the Asia-Pacific region. Rapid industrial growth is a plus for the regional webbing market.
North America employs webbing in its military and defence forces. Due to improved application development, this region is expected to exhibit great growth prospects in the forecasted period. According to the Stockholm International Peace Research Institute (SIPRI), the United States' military and defence spending in 2020 is expected to reach $778 billion, a 4.4% increase over 2019. The United States, as the world's largest military and defence spender, contributed 39% of global military spending in 2020. Increased military expenditure is expected to drive the web market.
The increased usage of webbing in the automobile sector for the manufacture of airbags, safety harnesses, catch belts, seat belts, and baggage nets is driving the growth of the global webbing market. The nationwide usage rate of seat belts was 90.3 percent in 2020, according to the National Highway Traffic Safety Administration of the United States Department of Transportation. The government’s regulations on safety belts had a favourable influence on the webbing market. Thus, growth in demand for commercial automobiles is one of the driving forces. Demand for athletic wear like slings, runners, and harnesses, as well as increasing outdoor activities, is also driving the webbing market.
Environmental concerns and regulatory laws regarding certain non-biodegradable and synthetic webbings and their use are a key impediment to the global webbing market. Polyester is the most commonly used fibre in the production of webbing as well as on the planet. According to the Textile Exchange 2020 report, polyester accounted for roughly 52 % of global fibre production in 2019, with an annual production of over 57.7 million mt. Polyester is a synthetic petroleum-based fibre manufactured from a non-renewable carbon-intensive feedstock. Recycled polyester made from PET plastic bottles makes up only 14% of global polyester production as of 2019. Petroleum products used as raw materials in the production of fibre have the potential to harm the environment due to their non-biodegradability. Each year, it is estimated that approximately 70 million barrels of oil are used to manufacture polyester. The majority of polyester fabrics are non-biodegradable because, depending on the environment, most polyesters take 20 to 40 years to decompose.
COVID-19's Impact on the Webbing Market:
The advent of COVID-19 had a negative influence on the web market, as the automotive industry took a huge hit. According to the International Council on Clean Transportation, in the first six months of 2020, China sold an average of 1.3 million new passenger automobiles each month. This is roughly a 23% decrease from the first half of 2019. On average, 0.8 million new passenger automobiles were registered each month in Europe (more accurately, the European Economic Area), down 43% from the first half of 2019. In the United States, monthly average sales of passenger automobiles and light trucks were about 1.1 million, down around 21% from the first half of 2019. While the COVID-19 pandemic continues to rumble markets throughout the world, its impact on the webbing industry can be observed. The global supply chain has been hindered by COVID-19, which has resulted in the shutdown of facilities. These shutdowns directly affect the demand for webbing in end-user sectors.
|Market size value in 2020||US$2.835 billion|
|Market size value in 2027||US$4.660 billion|
|Growth Rate||CAGR of 7.36% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Material, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Jiangsu Daxin Webbing Co., Ltd., Narrowtex Australia Pty Ltd, American Cord & Webbing Co., Inc, National Webbing Products, Oppermann GmbH, Tennessee Webbing Products, Belt-tech, Bally Ribbon Mills, Murdock Webbing Company, Inc., Ohio Plastics Belting Co|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the webbing market size by 2027?
A1. The webbing market is expected to reach a total market size of US$4.660 billion in 2027.
Q2. What are the growth prospects for the webbing market?
A2. The global webbing market is expected to grow at a CAGR of 7.36% over the forecast period.
Q3. What is the size of the global webbing market?
A3. Webbing Market was valued at US$2.835 billion in 2020.
Q4. What factors are anticipated to drive the webbing market growth?
A4. The increased usage of webbing in the automobile sector for the manufacture of airbags, safety harnesses, catch belts, seat belts, and baggage nets are driving the growth of the global webbing market.
Q5. Which region holds the largest market share in the webbing market?
A5. The Asia Pacific has the largest share of the webbing market.
Jiangsu Daxin Webbing Co., Ltd.
Narrowtex Australia Pty Ltd
American Cord & Webbing Co., Inc
National Webbing Products
Tennessee Webbing Products
Bally Ribbon Mills
Murdock Webbing Company, Inc.
Ohio Plastics Belting Co
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.