SEATTLE, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The global webbing market was valued at US$ 793.04 million in 2020 and is expected to exhibit a CAGR of 5.9% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Webbing Market:
The growing sales of passenger vehicles represent one of the key factors positively influencing the utilization of webbing in the automotive industry for manufacturing airbags, seat belts, safety harnesses, recovery and towing straps, convertible tops, luggage nets, and actuating elements.
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Moreover, manufacturers are offering customizable webbing for military personnel in a series if colors and camouflage patterns that fit various environments. They are alos developing new weaving technologies, such as combining non-conductive base fibers with specialized, conductive elements to offer e-textiles. This is driving demand for webbing in the healthcare industry as well as protective clothing. Futhermore, increasing investments in the defense and military sector are also influencing the use of webbing to transport essential tactical gear for survival exercises, deployment, overnight training, and outdoor expeditions. Apart from this, the rising participation of individuals in sports, along with the emerging trend of outdoor recreational activities, is anticipated to impel the market growth.
Key Market Takeaways:
The global webbing market is expected to exhibit a CAGR of 5.9% over the forecast period (2021-2028). The Webbing is expected to grow at a significant rate due to rise in production of vehicles and increasing safety concerns. Moreover, expansion of the industrial sector and increasing military expenditure will further propel the webbing market. 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 product type, polyester accounted for the majority of global revenue in 2020. Polyester is a manmade fiber known for its superior properties which makes it suitable for webbing applications where little to no stretch is preferred, such as fall restraint harnesses. There are two basic type of Polyester webbing, flat and tubular webbing identifiable by their shape and distinct physical properties. Flat webbing are available in different breaking strengths and can carry out number of basic application. It is well suited for applications in which material is sewn directly into a larger product. Whereas tubular webbing is a polyester webbing that has an opening allowing the threading of cable and so on. Tubular webbing acts as a protective sleeve and is well suited to handle abrasion. Polyester webbing also offer high strength ratio, consist low shrink properties and high temperature threshold ideal for outdoor application.
Major players operating in the global webbing 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.
Key players in the market are utilizing strategies such as product launches, mergers & acquisitions, and contracts & collaborations. These strategies would deliver effective goods and high-performance goods, supporting market laws and, better client satisfaction. For instance, in July 2019, MMI Textile Inc. acquired the assets of Competition Textile. The acquisition will enhance the existing stock line for MMI Textiles to offer their large, domestic and international customer base.
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Global Webbing Market, By Product:
Para Aramid Fibers
Global Webbing Market, By Type:
Global Webbing Market, By Application:
Global Webbing Market, By Region:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
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