by Webbing is a wide type of strong fabric that is used for various applications like belts, harnesses, and slings. It finds major usage in mountaineering and other outdoor recreational activities where dependable strength is essential. Webbing products provide comfort and durability for applications that require tension resistance like rock climbing, canoe/kayak carrying, camping gear adjustment, and more. Some common webbings include polyester, nylon, polyethylene, and polypropylene webbings. The advantages of webbing include high tensile strength, lightweight, resistance to abrasion, moisture absorption, UV resistance, and affordable pricing. With the rising interest of people in mountaineering, adventure sports and other outdoor activities, the demand for high-quality and durable webbing gear has increased tremendously.
The global Webbing Market is estimated to be valued at US$ 7.5 Billion in 2023 and is expected to exhibit a CAGR Of 18% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the global webbing market is the development of hybrid webbings. Hybrid webbings utilize different combination of materials like polyester and nylon to provide enhanced properties compared to single material webbings. For example, hybrid webbings offer increased cut resistance from nylon along with better abrasion resistance and UV protection from polyester yarns. Manufacturers are extensively researching and developing novel hybrid webbing fabrics that offer optimum strength, durability and weight efficiency for various mountaineering and industrial applications. This trend is expected to continue and boost the growth of webbing market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low- Moderate capital required for manufacturing; Established industry players hold brand advantage.
Bargaining power of buyers: High – presence of many manufacturers; buyers can demand lower pricing and better quality.
Bargaining power of suppliers: Moderate -Major raw materials readily available; dependency on few large suppliers for specialized varieties.
Threat of new substitutes: Low – Webbing caters to specific utility as load bearing material; limited direct substitutes available.
Competitive rivalry: High – Intense competition among regional and global players to gain market share.
Key Takeaways
The Global Webbing Market Demand is expected to witness high growth. The market size is projected to grow from USD 7 billion in 2024 to over USD 12 billion by 2031, registering a CAGR of around 18% during the forecast period.
Regional analysis –
Asia Pacific region currently dominates the global webbing market with over 35% share and is expected to witness the fastest growth. Improving economic conditions and rising outdoor recreational activities are augmenting market growth across India, China and other Asian countries.
Key players –
Key players operating in the webbing market are Crown Bag, American Cord & Webbing Co, Oppermann Verwaltungs, EBSCO industries, and Sturges Manufacturing. They collectively account for over 25% of global market share. These manufacturers focus on new product development and expanding production capacities to cater to the growing demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
