San Francisco, CA, October 06, 2014 --(PR.com
)-- The global market for webbing is expected to reach USD 3.52 billion by 2020, according to a new study by Grand View Research, Inc. Webbing demand is expected to grow with widening application scope including seat belts, safety harnesses and towing straps in automotive and transportation. Increasing construction spending coupled with growth in automotive manufacturing is expected to be critical for market development over the next six years.
Automotive & transportation was the largest application market for webbing products, with demand estimated at 158.6 kilo tons in 2013 owing to increased awareness regarding use of seatbelts for passenger safety and stringent traffic safety regulations promoting to avoid casualties. Webbing demand for sporting goods was estimated at 103.4 kilo tons in 2013 and is estimated to grow at a CAGR of 4.2% from 2014 to 2020.
Further key findings from the study suggest:
-Global webbing demand was 457.6 kilo tons in 2013 and is expected to reach 616.2 kilo tons by 2020, growing at a CAGR of 4.4% from 2014 to 2020.
-Polyester webbing products dominated the global market, with demand estimated at 202.1 kilo tons in 2013; owing to superior properties including UV resistance making them favorable for outdoor applications.
-Asia Pacific was the largest regional market for webbing, with revenue estimated at USD 1,465.9 million in 2013. China, being the world’s largest automobile producer in the world, accounted for a significant chunk of the Asia Pacific webbing demand.
-Military and automotive applications are expected to the most attractive markets for industry participants and are estimated to grow at a CAGR of 6.9% from 2014 to 2020.
Key companies in the webbing market include E. Oppermann GmbH, Webbing Products, BioThane, Universal Webbing Products Co., Ltd, Narrowtex Australia Pty Ltd, and National Webbing Products Co. Application development is expected to be critical for gaining competitive advantage, with key companies such as BioThane and Webbing Products focusing on niche applications and customized webbing solutions.
For the purpose of this study, Grand View Research has segmented the global webbing market on the basis of product, application and region:
• Webbing Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Carbon Fiber
• Para Aramid Synthetic Fiber
• Webbing Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Automotive & Transport
• Sporting Goods
• Webbing Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
View Full Report with TOC @ http://www.grandviewresearch.com/industry-analysis/webbing-market-size