by The global Webbing Market is estimated to be valued at US$ 941.85 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Webbing is a flat woven fabric made of nylon, polyester, or polypropylene. It is used in applications that require strength, lightness, flexibility, and ruggedness. Webbing is used to make seat belts, climbing harnesses, backpacks, and horse saddles. It provides load bearing strength without adding too much weight to the product. Webbing stretches less than rope but absorbs more impact than steel wire. Nylon webbing is known for its high tensile strength, abrasion resistance and durability even in wet and harsh conditions. Polyester webbing is known for its longevity and UV resistance.
Market key trends:
Growing participation in outdoor recreational activities such as camping, hiking, rock climbing, etc. is driving the demand for webbing from the sports and outdoor industry. Webbing is a crucial component of gear such as backpacks, climbing ropes, safety harnesses etc. used in these activities. Furthermore, rising health awareness is promoting active lifestyles and outdoor sports among young consumers globally. This is expected to positively influence the webbing market over the forecast period. Additionally, growing automotive production especially in Asia Pacific is augmenting the demand for webbing which is used in seat belts and airbags. The key players are focusing on developing lightweight and high strength webbing using advanced fibers to target these high growth end use industries.
Porter’s Analysis
Threat of new entrants: The webbing market requires high initial capital investments and R&D efforts to produce innovative webbing materials. Established players enjoy economies of scale which create barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute materials. However, compliance with industry standards limits switching to alternatives.
Bargaining power of suppliers: A few raw material suppliers exist globally, allowing them to exercise some pricing power. However, possibility of forward integration counters this influence.
Threat of new substitutes: Substitutes including rope, cordage and belt pose threats. However, webbing maintains an advantage through versatility, strength and lightweight properties essential for applications.
Competitive rivalry: Being a mature market, competition is intense among top players. Differentiation is challenging with me-too products. Emphasis is on product innovation, cost leadership and brand positioning.
Key Takeaways
The Global Webbing Market Size is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period of 2023 to 2030, due to increasing uptake in the automotive and military industries. By 2030, the market is expected to reach a value of US$ 1,442.58 Mn.
The Asia Pacific region is expected to dominate the market and grow at the fastest rate during the forecast period. Presence of leading webbing manufacturers and raw material suppliers in China, India, Japan and Southeast Asian countries drive the region’s growth.
Key players operating 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, National Webbing Products., Murdock Webbing Company, Inc., Tennessee Webbing Products, and Bally Ribbon Mills. These players focus on innovations in materials, improving tensile strength and elongation at break properties to support diverse applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
