Webbing Market - Forecast(2023 - 2028)

Overview

Webbing Market size is forecast to reach $4.40 billion by 2025, after growing at a CAGR of 5.3% during 2020-2025. 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. Webbing is a strong fabric woven as a flat strip or tube of varying width and fibres, often used in place of rope. Webbing with UHMWPE (ultra-high-molecular-weight polyethylene) is one of the best webbing tissues. In applications requiring high strength and low stretch, such as applications where corrosion is possible or anticipated, UHMWPE webbings are more strong, lighter and thinner than webbing made from conventional fibers.

Report Coverage

The report: “Webbing Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Webbing Industry.

Key Takeaways

APAC dominates the Webbing market owing to growth in automotive and sporting goods industry.

The carbon fibre segment is expected to register stable growth over the forecast period. Carbon fibre possesses superior properties which makes them suitable for use in military and sporting goods applications.

Germany and UK primarily cater to demand of webbing in the European market. Due to their increased applications in the automotive industry, polyester and nylon are expected to report rapid growth in the region.

Product Type - Segment Analysis

Polyester held the largest share in the Webbing market in 2019. 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. The polyester fiber market has grown to such an extent that it represents half of the overall global fiber market. In 2017, the overall consumption of polyester fibers was dominated by polyester yarn, which accounts for about 69% of overall consumption. Most of the demand for polyester is from APAC region where the fast growing automotive and sporting goods has been consuming high amount of polyester.  

End Use - Segment Analysis

Automotive Industry accounts for the highest market share in the global webbing market and is expected to grow with a CAGR of 4% over the forecast period of 2020-2025. 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. According to recently released Global status report on road safety, wearing a seat-belt reduces the risk of a fatality among front seat passengers by 40-50% and among rear-seat passengers by 25-75%. 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.

The other sector strengthening the webbing market is sporting goods industry. Governments around the world promote sporting activities and encourage participation in sports, which is expected to increase demand for sporting goods over the projected period. Furthermore, increasing numbers of sporting events such as biking, camping and marathons are anticipated over the forecast period to boost consumer demand.

Geography - Segment Analysis

APAC dominated the Webbing market with a share of more than 63%, followed by North America and Europe. Rapid industrialization and expanding automotive industry in APAC is expected to benefit the market. According to JATO Dynamics, the global vehicle sales continue to grow during 2018 fuelled by good economic frame of mind in the U.S, improved indicators in Europe and continued expansion of China’s economy. But in vehicle market, China holds the position as the world’s largest consumer, even experiencing its second lowest sales growth since 2009 and a substantial drop off in the second half of the year, China still managed to open 2018 with 12 million vehicle purchases in the first half. The US and Europe are developed markets with more limited growth potential; South American markets face uncertainty, while African markets remain in the early stages of development positioning APAC for the foreseeable future as the growth area of the automotive sector.

Drivers – Webbing Market

The growth in apparel industry.

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.

Challenges – Webbing Market

The effect of fibre 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. Polyester are biodegradable and will remain as it eventually breaks apart in the eco-system. 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 Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Webbing market. In 2019, the market of Webbing has been consolidated by the top five players accounting for xx% of the share. Major players in the Webbing Market are 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, and among others.

Acquisitions/Technology Launches

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.