Webbing Market Is Anticipated To Record A Valuation Of USD 1,745.84 Million By 2028, A Recent Study By The Insight Partners

PUNE, India, Sept. 23, 2021 /PRNewswire/ -- According to new research study on "Webbing Market to 2028 – Global Analysis and Forecast – by Material, Product, End-use, and Geography," the market is projected to reach US$ 1,745.84 million by 2028 from US$ 1,195.35 million in 2020; it is expected to grow at a CAGR of 5.1% from 2021 to 2028.

Webbing is a strong woven fiber, which is available in flat strips or tube form and acts as a substitute for rope. Conventionally, webbing was produced using cotton and silk. However, polymer, nylon, and polyester are replacing the traditional material. Webbing is known for its properties such as convenience in use along with tensile strength; chemical resistance; and its ability to replace steel wire, rope, or chain in diverse industrial end uses. Webbings are significantly used in military apparel, parachutes, climbing, automotive textile, fire safety gear, military goods, harnesses, packs, hiking gear, and others. Other than this, it is extensively used to produce protective equipment for oil & gas workers.

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Rise in Demand for Man-Made Webbing

With the expanding demand for webbing across diversified application bases, the demand for man-made webbing has significantly risen in comparison to natural webbing materials. Aramid fibers, polybenzoxazole, polyester, polypropylene, and nylon are several types of man-made materials used in webbing. Polyester is known for its various outstanding characteristics such as high tensile strength, resistance toward the water, abrasion and ultraviolet deterioration, ease in maintenance, stretching and shrinkage resistance, and chemical resistance. Therefore, amongst the other types of man-made webbing material, the use of polyester has been extended across diversified application bases such as marine fabric applications, bag handles, sail ties, and support straps. Also, slings made up of synthetic polyester (fiber material) are comparatively lighter in weight than both wire rope and chain slings. Other than polyester, the demand for nylon is high owing to its better elasticity than other materials. Such property has enabled its use in numerous end-use applications such as airbags, seat belts, safety harnesses, and luggage nets. Also, carbon fibers have several features such as limited thermal expansion coupled with tolerance toward extreme temperature conditions, chemical resistance with tensile strength, lightweight, and high tensile strength, which make them ideal webbing material to be used in the military and sporting goods. All these factors propel the growth of the webbing market.

Webbing Market: Segmental Overview

Based on end use, the webbing market is segmented into aerospace, automotive, military, industrial and safety, fashion accessories, E-textile, sport goods, marine, medical, and others. In 2020, the automotive segment dominated the Webbing Market. In the automotive industry, webbing is mainly used for manufacturing airbags, safety harnesses, catch belts, seat belts, and luggage nets. Webbing is commonly used for handles, such as doorknobs and boot/hatchback handles, in the car interiors. In addition, the webbing can be used outside the passenger compartment to restrain the movement of exhaust pipe hangers and to secure or attach car batteries and on the radiator grille. Further, the demand for sporting goods is rising, resulting in increasing sports events such as hiking, marathons, and camping.

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Webbing Market: Competitive Landscape and Key Developments

A few of the major key players operating in the global webbing market are American Cord & Webbing Co., Inc; Bally Ribbon Mills; Belt-Tech; E. Oppermann GMBH; Murdock Webbing Company, Inc.; Narrowtex Australia; National Webbing Products Co.; Ohio Plastics Belting Co.; Ribbon Webbing Corp; and Tennessee Webbing Products. The major Webbing Market players adopt strategies such as mergers and acquisitions and research and development to increase their geographical presence and consumer base across the world.

Impact of COVID-19 Pandemic on Webbing Market

As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths. The pandemic has adversely affected economies and many industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions, such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa, has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and various goods sales.

Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are negatively affecting business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemicals & materials industry in a negative manner, which would act as the restraints for the growth of various markets related to this industry in the coming months. The webbing market is impacted negatively by the COVID-19 pandemic due to a shortfall in production along with limited transportation facilities.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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SOURCE The Insight Partners

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