The global webbing market size was estimated at USD 2.72 billion in 2016. Increasing production of passenger vehicles is anticipated to drive global growth over the coming years. Applications of webbing in automobiles include seat belts, safety harnesses, recovery and towing straps, edge binding for convertible tops, straps and binding for luggage nets, pull straps for actuating elements, and catch belts for airbags.

U.S. dominates the market in North America. The region also comprises high-end consumer markets such as Canada and Mexico. Both countries are some of the largest consumers of U.S. webbing products and together account for nearly 55.0% of the total trade. In addition, the boom in Mexico’s automotive sector is directly spurring the demand for industrial fabric materials such as webbing.

Growth of the U.S. automotive sector is directly linked to the growth of webbing products. Sales of passenger vehicles in U.S. registered an increase from nearly 17.47 million in 2014 to approximately 17.57 million in 2015. Simultaneously, the production of webbing products, in terms of volume, in U.S. increased by nearly 1.70 kilotons from 2014 to 2015. Therefore, growth in the automotive sector, in terms of sales, is a key driver for growth of webbing products in the country.

Advancements in technology and innovation, coupled with trade relations under the North America Free Trade Agreement (NAFTA), is expected to drive product demand over the forecast period. The overall trade of textile and technical textile materials from U.S. to Mexico increased from nearly USD 6.2 million in 2014 to close to USD 6.5 million. Therefore, growth in trade of technical textiles such as webbings and slings is expected to drive product demand through 2025.

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Further key findings from the report suggest:

• The global webbing market is expected to reach 826.0 kilotons by 2025 at a CAGR of 5.9% from 2017 to 2025. Product demand is driven by increasing application in the automotive sector

• In terms of revenue, the global market was pegged at an estimated USD 2.70 billion in 2016 owing to rising automotive production worldwide

• By application, the automotive sector dominated the market with a share of around 33.0% in 2016

• In terms of volume, the U.S. webbing market is anticipated to reach nearly 104.9 kilotons by 2025

• Asia Pacific is projected to witness a revenue-based CAGR of 7.8% from 2017 to 2025 owing to large number of automotive manufacturers in the region

• The market is highly competitive in nature and fragmented with the presence of global and regional players.

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