Narrowtex Australia Is Fastest Growing Segment Fueling The Growth Of Global Webbing Market


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 refers to narrow fabric belts or tapes made of polyester, nylon or polypropylene. They are known for their high strength to weight ratio and versatile applications across different end use industries like automobile, defence, aerospace, safety equipment etc. Webbing offers advantages like durability, flexibility and safety.

Market key trends:
One of the key trends in the Webbing market is the growing demand from the defense and military sector. Modern armies and navy forces extensively use webbing for load carrying systems, rigging belts and safety equipment like harnesses. With rising global instability and geo-political tensions, military budgets of major economies are increasing which is driving the demand for specialized webbing materials. Manufacturers are also focusing on lightweight and high tenacity webbing to cater to the evolving needs of defense forces.

Segment Analysis
The global webbing market is segmented on the basis of material, application, and region. On the basis of material, the market is classified into nylon, polyester, polypropylene and others. Nylon webbings dominate the market as they offer properties like excellent abrasion resistance, tensile strength and are lightweight. On the basis of application, the market is classified into automotive, defense, clothing, sports & recreational, and others. The automotive segment dominates the market owing to widespread use of webbings in seat belts, airbags and other applications.

Key Takeaways
The Global Webbing Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand from automotive and defense industries.

Regional analysis - Asia Pacific is expected to be the fastest growing as well as dominating region owing to rapid growth of end use industries like automotive and defense in countries like China and India. North America and Europe are also significant markets.


Key players - 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. American Cord & Webbing Co. and E. Oppermann GmbH are recognized as technology leaders in webbing.

Read More: https://www.ukwebwire.com/webbing-market-size-share-and-growth-forecast-2023-2023/

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