Flat Webbing Segment to Dominate Asia Pacific Webbing Market during 2021-2028

According to a new market research study on “Asia Pacific Webbing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Material, Product, End-Use and Country,” is expected to reach US$ 942.24 million by 2028 from US$ 653.36 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific webbing market along with the drivers and restraints pertaining to the market growth. Expansion of the automotive industry and an upsurge in the demand for man-made webbing are the major factors driving the growth of the Asia Pacific webbing market. However, the stringent government regulations together with high maintenance cost may hinder the growth of Asia Pacific webbing market.

In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus 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 Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for Asia Pacific webbing is segmented into material, product, end-use and country. Based on material, the market is segmented into natural and man-made. In 2020, the man-made segment held the largest share in Asia Pacific webbing market. Based on product, the Asia Pacific webbing is divided into flat webbing, tubular webbing, and other products. The tabular webbing segment is expected to be the fastest growing segment over the forecast period. Based on end-use, the market is segmented into aerospace, automotive, military, industrial and safety, fashion accessories, e-textile, sport goods, marine, medical, and others. The industrial and safety segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific webbing market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. China is expected to be the fastest growing country over the forecast period.  Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific webbing market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for webbing.

E. Oppermann GmbH; Narrowtex Australia; National Webbing Products Co. and Tennessee Webbing Products are some of the leading companies in the Asia Pacific webbing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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