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Webbing is widely used in a variety of commercial and military applications such as safety harnesses, climbing gears, luggage straps, seat belts, and others. This has led to increasing demand for webbing from industries such as automotive, military & defense, transport, sports, and others. Additionally, growing popularity of outdoor recreational activities among people has boosted the demand for webbing from the sporting goods industry. Webbing finds applications in various sporting goods like walking sticks, hiking bags, climbing gear, tents and others. The global sporting goods market has witnessed significant growth over the past few years due to rising health awareness among people and growing participation in sporting events. The global Webbing Market is estimated to be valued at US$ 941.85 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the webbing market growth is the rising demand for lightweight and durable webbings. Market players are focusing on developing webbings using high strength fibers that provide durability as well as light weight. For instance, Dyneema fiber-based webbings are gaining popularity as they can withstand cuts, abrasions and are 15 times stronger than steel. Additionally, newer technical textiles made from aramid fibers, UHMWPE fibers and gel-spun polyethylene fibers offering high strength-to-weight ratio are finding increasing applications in webbings. Another major trend is the development of webbings with tailored properties for specific end-use applications. For example, webbings with flame retardant and mildew resistant properties are being increasingly used in safety harnesses and military gear. Advanced webbings with features such as elasticity and snag resistance are also being developed to meet the unique requirements of different industries.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as webbing market requires high initial investments and has strong presence of established brands.
Bargaining power of buyers: The bargaining power of buyers is high as webbing products are available from multiple suppliers and customers can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for webbing production have limited suppliers globally.
Threat of new substitutes: The threat of new substitutes is moderate as webbing has substitutes like rope, chain, and strap but webbing is preferred for its lightweight and high strength properties.
Competitive rivalry: The competition in the webbing market is high as top players vie for greater market share.
Key Takeaways
The global webbing market is expected to witness high growth.
Regional analysis: The Asia Pacific region dominates the global webbing market and is expected to witness the fastest growth during the forecast period due to growth of end use industries in China and India.
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.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
