The Webbing Global Market Report 2023, provides comprehensive information on the webbing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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Top 5 Major Key Players Are:
American Cord & Webbing Company
Belt-tech
Narrowtex
National Webbing Products
Tennessee Webbing Products
In accordance with The Business Research Company’s latest Webbing Global Market Report for the year 2023, we observe a noteworthy trend in the market dynamics. The data reveals that the market experienced substantial growth, ascending from $3.63 billion in 2022 to a robust $3.95 billion in 2023. This impressive development is attributed to a notable compound annual growth rate (CAGR) of 8.7%.
Nevertheless, this positive trajectory is not devoid of external factors influencing the global economic landscape. The ongoing Russia-Ukraine conflict has cast a shadow on the prospects of worldwide economic recovery following the challenging COVID-19 pandemic, at least in the short term. This geopolitical struggle has engendered economic sanctions impacting multiple nations, triggering significant increases in commodity prices, and causing extensive disruptions in supply chains. These developments have precipitated inflationary pressures across the spectrum of goods and services, thereby reverberating throughout global markets.
Despite these challenges, it is projected that the global webbing market will continue to thrive, with an anticipated market size of $5.44 billion by the year 2027, characterized by a commendable CAGR of 8.4%. This suggests promising growth opportunities in the foreseeable future for this dynamic sector.
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The burgeoning demand for automobiles is instrumental in propelling the webbing market to new heights. This expansion is underpinned by the increasing adoption of webbing in the automotive sector, where it finds diverse applications ranging from the fabrication of seat belt handles to the crafting of safety harnesses, airbag catch bags, and the secure attachment of car batteries. Moreover, webbing plays a pivotal role in constraining the movement of exhaust pipe hangers, enhancing the overall safety and functionality of vehicles. As a direct consequence, the demand for webbing is poised for a significant upsurge in the forthcoming years.
It is noteworthy that projections from LMC Automotive indicate that global car sales are anticipated to reach a staggering 111 million units by the close of 2032. This forecast underscores the thriving nature of the automotive industry and its direct impact on the webbing market. Furthermore, insights from the Economist Intelligent Unit corroborate this sentiment, forecasting an impressive 15% surge in global new car sales and a remarkable 16% uptick in commercial vehicle sales in the year 2021. These statistics are indicative of the robust momentum within the automotive sector, which serves as a driving force for the ever-expanding webbing market.
The webbing market is segmented:
1) By Product: Nylon, Polyester, Polypropylene, Carbon Fibers, P-Aramid Fibers, Ultra-high-molecular-weight polyethylene (UHMWPE), Other Products
2) By Material: Natural, Man-made
3) By Application: Automotive, Military, Industrial, Sporting Goods, Other Applications
Asia-Pacific was the largest region in the webbing market in 2022.
The table of contents in TBRC’s webbing market report includes:
- Executive Summary
- Webbing Market Characteristics
- Webbing Market Trends And Strategies
- Webbing Forwarding Market – Macro Economic Scenario
- Webbing Market Size And Growth
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- Africa Webbing Market
- Webbing Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Webbing Market
- Webbing Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Webbing Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Webbing Market, Segmentation By Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Webbing Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 46: American Cord & Webbing Company Financial Performance
Table 47: Belt-tech Financial Performance
Table 48: Narrowtex Financial Performance
Table 49: National Webbing Products Financial Performance
Table 50: Tennessee Webbing Products Financial Performance
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