Webbing market

Webbing is a strong fabric woven as a flat strip or tube of varying width and fibres, often used in place of rope. It is a versatile component used in climbing, slack lining, furniture manufacturing, automobile safety, auto racing, towing, parachuting, military apparel, load securing, and many other fields. They may be made of hemp, cotton or linen, but also synthetic fibers such as nylon, polypropylene or polyester. Webbing is also made from exceptionally high-strength material, such as Dyneema, and Kevlar. Webbing is both light and strong, with breaking strengths readily available in excess of 10,000 pounds-force (44 kilo newtons). There are two basic constructions of webbing. Flat webbing is a solid weave, with seat belts and most backpack straps being common examples. Tubular webbing consists of a flattened tube, and is commonly used in climbing and industrial applications.

The Global Webbing Market is estimated to surpass US$ 1,234.57 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2021 to 2028).

Drivers

One of the key factors expected to stimulate market growth during the forecast period is the growth of the apparel industry. In the fashion industry, the per capita spending determines the webbing market. Increasing export activities are expected to be a driving factor in the global apparel industry by improving domestic production in developing countries like India and Bangladesh. The increasing demand for quality intimate apparel is further expected to increase the demand for webbing in the upcoming years. Also, The increasing outdoor activities among individuals, rising usage of webbing in automotive industry for production of airbags catch belts, seat belts, safety harnesses, strict government regulations on safety belts in the vehicle, growing demand for sports goods such as runners, slings, harnesses are some of the factors expected to boost the growth of the webbing market in the forecast period.

Among regions, Asia Pacific held dominant position in the global feldspar market in 2020, accounting for 41.3% market share in terms of revenue, followed by North America, and Europe. The region is the industry leader owing to the presence of developing countries such as India, China, and Malaysia. Regional product demand for use in sectors such as automotive, industrial, and military is likely to drive the market through 2028. Rapid industrialization and expanding automotive industry in Asia Pacific is expected to benefit the market. India is likely to register high demand for automobiles due to industrialization, coupled with government support to manufacture vehicles. The encouragement of 100% Foreign Direct Investment (FDI) in the automobile sector is expected to boost the country’s manufacturing sector.

Figure 1. Global Webbing Market Revenue Share (%), By Region, 2020

Market Restraints

The effect of fiber on environmental can restrict the market growth. Polyester is one of the major fiber used for manufacturing webbing. Polyester is a synthetic petroleum-based fibre which is made from a carbon-intensive non-renewable resource. Petroleum products are used as feedstock to manufacture fibre which has the ability to harm the environment due to its non-degradable property. It has been estimated that approximately 70 million barrels of oil are used to make polyester each year. In fact, synthetic clothing is known to be the largest source of micro plastic waste in the oceans because every time it is washed, up to 1900 fibers can be washed from one garment.

Market Trends

The demand for man-made webbing has significantly risen more significantly than in comparison to natural webbing materials. Aramid fibers, polybenzoxazole, polyester, polypropylene, and nylon are the several types of man-made synthetic materials used in webbing. Polyester is known for its various outstanding characteristics such as high tensile strength and, resistance toward water, abrasion and ultraviolet deterioration, easy in maintenance along with, resistance toward water, abrasions, and ultraviolet radiations, stretching, and shrinkage, resistance, and chemicals resistance. Therefore, amongst the other types of man-made webbing material, the use of polyester-based webbings is being used in has been extended across a diversified range of application bases such as marine fabric applications, bag handles, sail ties, and support straps.

Figure 2. Global Webbing Market Revenue Share (%), By Application, 2020

On the basis of application, in 2020, Automotive Industry accounts for the highest market share of 34.2% in the global webbing market. The steady rise in demand for vehicles in developing countries such as India and China is expected to aid segment growth over the forecast period. The vehicle seatbelts is one of the major application in automotive for webbing as it possesses high strength properties. The mandatory laws to equip vehicles with seat belts has upscale the seat belt consumption into automobile. Furthermore, the growth in automotive sector will parallelly upscale the seat belt consumption. Thus, up surging the webbing demand in automotive sector.

Global Webbing Market - Impact of Coronavirus (Covid-19) Pandemic

Chemicals & materials is one of the key industries experiencing severe disruptions due to the discontinuation of supply chains and plant operations. The shutdown of manufacturing plants in regions such as North America, Europe, and APAC has hampered the global supply chains, thereby affecting manufacturing processes, distribution schedules, and product sales. The consequences of COVID-19 pandemic have also led to the slowdown of webbing production, demand, and trade. The shutdown of national and international boundaries have affected business development strategies of various companies. However, with the economies planning to revive their operations, relaxing lockdown measures, and conducting mass vaccination drives, the webbing market is likely to bounce back in the coming months.

Competitive Section

Key players operating in the global feldspar market include 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.