The North America webbing market is expected to grow from US$ 230.17 million in 2021 to US$ 327.92 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028.
The US, Canada, and Mexico are the key countries in North America.The demand for webbing is significantly rising across diverse industrial bases, such as aerospace & defense, automotive, industrial and safety, fashion, textile, and sport goods.
The trade relation between the US and Mexico has spurred the growth of Mexico’s textile and apparel industry.At present, the textile and apparel industry in Mexico accounts for 6% of the country’s total GDP.
Several trade deal agreements such as NAFTA, MEXICO–EU FTA, MAQUILA PROGRAM, and TRANSPACIFIC STRATEGIC ECONOMIC PARTNESRSHIP AGREEMENT have positively impacted the growth of several industries.Also, the overall trade of textile and related materials has significantly increased across North America.
Hence, the significant growth in the textile and fashion industries propels the demand for webbing and slings. Further, the growth in the aerospace industry is directly complementing the growth of webbing market. In automotive industry, webbing is used in seat belts, straps, luggage nets, safety harnesses, pull straps for actuating elements, edge binding for convertible tops, catch belts for airbags, and other such applications. Therefore, the growth of automotive industry is promoting the demand for industrial fabric materials, such as webbing.
In North America, the US has witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of webbing manufacturing activities.Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for webbing during the early months of 2020.
Moreover, decline in the overall fiber and composites manufacturing activities has led to discontinuation of webbing manufacturing projects, thereby reducing the demand for webbing.Similar trend was witnessed in other North America countries, such as Mexico, Canada, Panama, and Costa Rica.
However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Based on material, the market is segmented into natural and man-made.The man-made segment is expected to grow at a faster CAGR during the forecast period.
The man-made webbing materials are polyester, nylon, polypropylene, aramid fibers, polybenzoxazole, liquid crystal polymers yarn, and high modulus polyethylene.Polyester webbing is commonly utilized in applications requiring low to high load-bearing capacity.
Due to its superior fade resistance, polyester webbing is increasingly used in maritime fabric applications.It is useful for making support straps, sail ties, bag handles, and other similar products.
In addition, polyester is a man-made fiber that is well-known for its superior properties such as high strength, resistance to ultraviolet deterioration, water resistance, quick-drying, ease of cleaning, high tensile strength, abrasion resistance, stretching, shrinkage resistance, chemical resistance, and mildew resistance.
The overall North America webbing market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America webbing market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America webbing market.A few of the key companies operating in the market are American Cord & Webbing Co.
Inc.; Bally Ribbon Mills; Belt-Tech; E. Oppermann GmbH; Murdock Webbing Company, Inc.; Narrowtex Australia; National Webbing Products Co.; Ohio Plastics Belting Co.; Ribbon Webbing Corp; and Tennessee Webbing Products.
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