The Business Research Company’s Webbing Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, July 21, 2021 /EINPresswire.com/ — An increase in demand for automobiles is contributing to the growth of the webbing market. Growing usage of webbing in the automotive industry for the production of seat belts, handles, safety harnesses, airbag catch bags, and attach car batteries, to limit the movement of exhaust pipe hangers is likely to boost the demand for webbing in coming years. According to LMC Automotive estimates, global car sales are predicted to reach 111 million by the end of 2032. Moreover, according to the Economist Intelligent Unit, the global new car sales will rise by 15% and commercial vehicle sales will increase by 16% in 2021. Therefore, the expansion of the automotive sector is boosting the growth of the webbing market.
The webbing market consists of sales of webbing products by entities (organizations, sole traders, and partnerships) that are engaged in webbing products to be used in belts, straps, seat belts, and airbags. Webbing is a strong fabric that is woven as a flat strip with different sizes and fibers and is often used as a replacement for rope. It is commonly used in furniture manufacturing, military apparel, automobile safety, parachuting, and other fields.
The global webbing market size is expected to grow from $3.11 billion in 2020 to $3.34 billion in 2021 at a compound annual growth rate (CAGR) of 7.43%. The growth in the webbing market is mainly due to the increasing outdoor activities and increased demand from automotive sector. The market is expected to reach $4.57 billion in 2025 at a CAGR of 8.15%.
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Major players in the webbing market are American Cord & Webbing Company, Belt-tech, Narrowtex, National Webbing Products, Tennessee Webbing Products, Ohio Plastics, Universal Webbing Products, Jiangsu Daxin Webbing, Inka Oy, Leedon Webbing, Webbing Products, Sturges Manufacturing, American Webbing and Fittings, and Oppermann Webbing (Kunshan).
Asia Pacific was the largest region in the webbing market in 2020. North America is the second-largest market in webbing market. The regions covered in the webbing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
TBRC’s webbing market report is segmented –
1) By Product: Nylon, Polyester, Polypropylene, Carbon Fibers, P-Aramid Fibers, Ultra-High-Molecular-Weight Polyethylene (UHMWPE), Others
2) By Application: Automotive, Military, Industrial, Sporting Goods, Others.
Webbing Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides webbing market overview, forecast webbing global market size and growth for the whole market, webbing global market segments, and geographies, webbing global market trends, webbing global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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