Market Introduction
The North America webbing market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The demand for environment-friendly fabric material has been increasing with the rising concerns related to environment degradation and waste management coupled with growing focus on the deployment of sustainable materials. The demand for such materials is strongly driven by stringent government regulations on the use of nonbiodegradable webbing materials due to the adverse impacts of such material. With growing focus toward eco-friendly webbing materials, manufacturers have come up with new materials such as recycled polyester, bamboo webbing, wool webbing, rayon webbing, soy webbing, organic cotton webbing, linen webbing, jute webbing, and hemp webbing. Such webbing materials have comparatively less pH value, which makes them ideal to be used in textile materials. This type of webbing material does not cause skin itching and does not damage the weak acidic environment of the skin surface. Also, the materials do not use disperse dyes, which may cause allergies. The increasing investments by manufacturers in R&D activities for the development of environment-friendly and performance-efficient webbing materials would drive the growth of the webbing market in coming years.
In case of COVID-19, in North America, especially the US, 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 North America countries, i.e., Mexico, Canada, Panama and Costa Rica. 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.
Market Overview and Dynamics
The webbing market in North America 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 webbing material is either naturally procured from animal skin or is prepared artificially. In earlier times, the material was denuded from moose, deer, or caribou. However, in the twentieth century, manufacturers shifted their extraction to cow hide, being the economical and high-quality rawhide. With the expanding demand for webbing, manufacturers have alternatively switched toward man-made webbing material. In the US, ACW is considered as one of the leading manufacturers webbing material. Other than this, as per an article published by Industrial Fabrics Association International, Paiho North America is involved in offering special spun polyester material for webbing, which can be used in diverse application bases such as apparel, shoes and sporting goods, and industrial or medical applications. The rapid pace of technological developments and supporting government regulations have transformed North America into the most promising market for the aviation, automotive, medical, marine, and other sectors. The shifting lifestyle of consumers promote the demand for several industrial and consumer products, which accelerates the growth of several industrial bases. The growth of these industries is directly impacting the demand for webbing.
Key Market Segments
Based on material, the man-made segment accounted for the largest share of the North America webbing market in 2020. Based on product, the flat webbing segment accounted for the largest share of the North America webbing market in 2020. Based on product, the automotive segment accounted for the largest share of the North America webbing market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America webbing market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include 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.
Reasons to buy report
North America Webbing Market Segmentation
North America Webbing Market -By Material
North America Webbing Market -By Product
North America Webbing Market – By End-Use
North America Webbing Market – By Country
North America Webbing Market – Company Profiles