Webbing market is projected to reach a market size of US$4.039 billion in 2023

The recent study on the Webbing market covers an in-depth analysis of the market on the basis of material, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Webbing Market – Forecast from 2018 to 2023”, the market is estimated to grow at a CAGR of 7.25% to reach a market size of US$4.039 billion in 2023 from US$2.655 billion in 2017. The report has segmented the webbing market by material (polyester, polypropylene, nylon, others), application (automotive, military, sporting goods, others), and by geography such as North America (United States, Canada, Mexico, others), South America (Brazil, Argentina, others), Europe (Germany, France, United Kingdom, Spain, others), Middle East and Africa (Saudi Arabia, United Arab Emirates, others), and Asia Pacific (China, Japan, South Korea, India, others). Webbing is a strong fabric which is used in automobile safety belts, slacklining, furniture manufacturing, military apparel, and many other fields. Increasing automotive production and the growing adoption of webbing for seat belts is expected to drive the growth of the market during the forecast period. Rising safety concerns and increasing military expenditure around the globe is further expected to people the market growth opportunities in the coming years. Furthermore, rapid industrialization and advancement in technology and innovation are further anticipated to provide an opportunity for the market to thrive during the forecast period and beyond.

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By application, the automotive segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.

By application, the automotive segment is estimated to account significant market share and is expected to grow rapidly during the forecast period on account of increasing production of passenger cars around the globe. For instance, according to the International Organization of Motor Vehicle Manufacturers, passenger car production in Mexico has increased from 3,368,010 units in 2014 to 4,068,415 units in 2017.

The Asia Pacific is expected to hold a significant market share.

The Asia Pacific webbing market is estimated to hold a significant market share is owing to the presence of developing countries like China, India, and Indonesia. Rapid industrialization and expanding automotive industry in the region is expected to drive the market during the forecast period. In addition, increasing defense expenditure in the region is further expected to propel the market growth opportunity in the coming years. Furthermore, expansion of end-user industries coupled with favorable government policies in the industrial sector is also anticipated to benefit the market during the forecast period.

Some of the major players discussed in the reports are Jiangsu Daxin Webbing Co, Narrowtex Australia Pty Ltd, American Cord & Webbing Co, National Webbing Products, Southern Weaving Company, and Tennessee Webbing Products, among others.

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