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Webbing Market - Global Industry Analysis 2016 - 2024
Global Webbing Market
Owing to U.V resistance, polyester made webbing can be applied for outdoor purposes as well. Properties of webbing can be controlled depending upon the type of substance used for manufacturing. Webbing can be classified into two types: flat webbing and tubular webbing. Flat webbing is a solid weave used in straps of backpacks, rucksacks, and seat belts. Tubular webbing is a flattened tube used in industrial and climbing applications. Webbing products are employed in industrial purposes for applications such as welding, cutting, etching, rivets, prototyping, lifting webbing, tie-down webbing, and printing.
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Webbing Market: Trends and Opportunities
Webbing applications can be classified into sporting goods, automotive and transport, furniture, military, bags and canvas, footwear, and industrial. automotive, transport, and military applications are anticipated to dominate the webbing market till 2023. Bags and canvas is expected to experience decent growth during the forecast period due to expansion in shipping and storage industries. Rising usage of webbing for seatbelts is projected to drive the automotive market during the forecast period. The usage of seat belts is rising due to increasing safety concerns. This is likely to act as an opportunity for the webbing market in the next eight years. However, implementation of strict environmental regulations regarding the usage of non-biodegradable substances in the manufacture of webbing is a challenge. This is projected to act as restraint during the forecast period. Extensive research and development is being conducted to find out better raw materials with enhanced properties. This will help in increasing the number of applications. The webbing market is expected to experience decent growth due to increase in industrial activities.
Webbing Market: Geographical and Competitive Dynamics
Asia Pacific was the largest market for webbing, accounting for almost 65% share of the global revenue in 2014. Expansion in end-user industries such as automobile and sporting goods is driving the webbing market in Asia Pacific. Growth in industrial applications and rising safety concerns in the military sector are estimated to propel the webbing market in North America, Latin America, and Africa. The webbing market in Brazil, Mexico, China, and India is expected to register growth owing to increase in industrial activities. The European New Car Assessment Programme (Euro NCAP) has resulted in the installation of seat belts and other safety straps in automobiles. This is driving the webbing market. Increase in manufacturing activities and growth in the automobile industry in Germany and Italy are other factors augmenting the webbing market in Europe.
Key manufacturers of webbing include E. Oppermann GmbH, Narrowtex Australia Pty Ltd, BioThane, Jiangsu Daxin Webbing Co., Ltd, Universal Webbing Products Co., Ltd, National Webbing Products Co, Tennessee Webbing Products, Ohio Plastics Belting Co., and Southern Weaving Company. The webbing market is characterized by intense competition among companies striving to gain maximum market share by launching innovative products with superior properties.
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