Webbing Industry Outlook, Growth Prospects and Key Opportunities 2024
Asia Pacific holds largest share for Webbing Market, accounting for almost 65% share of the global revenue. Rising usage of webbing for seatbelts is likely to act as an opportunity for the Webbing Market in the next eight years.
Asia Pacific holds largest share for Webbing Market, accounting for almost 65% share of the global revenue. Rising usage of webbing for seatbelts is likely to act as an opportunity for the Webbing Market in the next eight years.
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<strong>Webbing</strong> applications can be classified into sporting goods, automotive <strong>and</strong> transport, furniture, military, bags <strong>and</strong><br />
canvas, footwear, <strong>and</strong> industrial. automotive, transport, <strong>and</strong> military applications are anticipated to dominate the<br />
webbing market till 2023. Bags <strong>and</strong> canvas is expected to experience decent growth during the forecast period due<br />
to expansion in shipping <strong>and</strong> storage industries. Rising usage of webbing for seatbelts is projected to drive the<br />
automotive market during the forecast period. The usage of seat belts is rising due to increasing safety concerns.<br />
This is likely to act as an opportunity for the webbing market in the next eight years. However, implementation of<br />
strict environmental regulations regarding the usage of non-biodegradable substances in the manufacture of<br />
webbing is a challenge. This is projected to act as restraint during the forecast period. Extensive research <strong>and</strong><br />
development is being conducted to find out better raw materials with enhanced properties. This will help in<br />
increasing the number of applications. The webbing market is expected to experience decent growth due to increase<br />
in industrial activities.<br />
<strong>Webbing</strong> Market: Geographical <strong>and</strong> Competitive Dynamics<br />
Asia Pacific was the largest market for webbing, accounting for almost 65% share of the global revenue in 2014.<br />
Expansion in end-user industries such as automobile <strong>and</strong> sporting goods is driving the webbing market in Asia<br />
Pacific. <strong>Growth</strong> in industrial applications <strong>and</strong> rising safety concerns in the military sector are estimated to propel the<br />
webbing market in North America, Latin America, <strong>and</strong> Africa. The webbing market in Brazil, Mexico, China, <strong>and</strong> India<br />
is expected to register growth owing to increase in industrial activities. The European New Car Assessment<br />
Programme (Euro NCAP) has resulted in the installation of seat belts <strong>and</strong> other safety straps in automobiles. This is<br />
driving the webbing market. Increase in manufacturing activities <strong>and</strong> growth in the automobile industry in Germany<br />
<strong>and</strong> Italy are other factors augmenting the webbing market in Europe.
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