Global Automotive Webbing Market Report
Global Automotive Webbing Market by Product (Polyester, Nylon, Polypropylene, and Carbon Fibers) and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Automotive Webbing Overview
Automotive webbing is a type of material that is used to provide support and structure to various parts of a vehicle, such as seat belts, airbags, and cargo restraints. Vehicle components including seat belts and airbags are supported and given structure automotive webbing. Recent years have seen considerable growth in the market due to rising demand for lightweight materials, electric and hybrid vehicle adoption, and safety features in automobiles.
Global demand for cutting-edge safety features in the automobile sector is rising, and they are a crucial part of safety systems. The demand for safety measures like seat belts and airbags is further increased by governments and regulatory agencies requiring their use. Additionally, because webbing material can lower pollutants and fuel consumption, lightweight materials are becoming common in the automotive sector. Nylon and Polyester materials are commonly used among manufacturers since they are lightweight while still offer the necessary strength and durability to various portions of a car.
Global Automotive Webbing Market Analysis
The Global Automotive Webbing Market Size was $1,148.0 million in 2022 and is predicted to grow with a CAGR of 4.5%, by generating a revenue of $1,780.9 million by 2032.
COVID-19 Impact on Global Automotive Webbing Market
The automotive sector suffered during the initial pandemic lockdowns as individuals stayed at home and drove less, worldwide supply networks came to a halt, and manufacturers and dealers temporarily halted their operations. Before the COVID-19 crisis, the automotive industry was already experiencing difficulties in FY20. The start of the COVID-19 outbreak and the continued lockdowns in the world made the situation worse. The transition to BS-VI, revisions to the axle weight standards, liquidity constraints, low-capacity utilization, and potential bankruptcies made these two years (FY20 and FY21) difficult for the automotive industry.
Hope for a U-shaped economic recovery is raised by the near normalization of daily life and manufacturing activities in China and South Korea. OEMs, dealers, and suppliers who have ample cash on hand and easier access to financing will be in a better position to weather this degrowth.
Growing Demand for Safety in Automotive Vehicles to Drive the Market Growth
The needs of automakers, aftermarket providers, and other parties involved in the automotive industry are met by the market for automotive webbing. Safety rules and standards that call for automobiles to be outfitted with dependable and long-lasting restraint systems are what primarily fuel the demand for automotive webbing. These rules are designed to increase occupant safety and lower the chance of injuries during collisions or abrupt stops. The automotive webbing industry is primarily driven by the strict safety requirements and standards put in place by governments and regulatory agencies around the world. To increase occupant safety, these regulations require the use of seatbelts and other restraint systems in automobiles. The need for high-quality webbing materials to comply with these rules is what fuels the market for automotive webbing. Vehicle production in the global automotive sector is still increasing as a result of factors including population expansion, urbanization, and increased disposable incomes. The need for automotive webbing to outfit the rising fleet of vehicles with safety restraint systems grows along with vehicle production. Automobile manufacturers and customers now place a high focus on vehicle safety. To improve occupant protection, automakers are placing more and more emphasis on integrating cutting-edge safety technologies into their vehicles. High-quality webbing materials are in high demand since webbing is an essential component of seatbelts, airbags, and other safety restraint systems.
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Environmental Concerns Associated with the Use of Automotive Webbing to Restrain Market Growth
The global webbing market is severely hampered by environmental concerns and regulatory prohibitions regarding the use of several synthetic and non-biodegradable webbings. The automotive webbing market's participants' profitability is being severely impacted by raw material price volatility, which could pose a challenge during the forecast period. The effects of fiber on the environment could limit market growth. For instance, nylon rope gradually deteriorates and produces hazardous substances when exposed to heat for an extended period of time. It also becomes weaker when soaked in water. Polyester-based synthetic slings are more susceptible to environmental elements and severe conditions, such as protracted UV exposure, sweltering temperatures, and environments with significant chemical activity. Chemicals including dyes, coatings, and adhesives may be used during the fabrication of automobile webbing. These compounds can contaminate soil and water when handled or disposed of improperly, having an adverse effect on ecosystems and public health. When an automobile webbing product reaches the end of its useful life, getting rid of it might be difficult. Options for recycling could be scarce depending on the particular materials employed. Increased landfill waste and delayed rates of non-biodegradable material decomposition may result from this.
Increasing Adoption of Webbing in the Aerospace Sector to Generate Excellent Opportunities in the Market
The automotive webbing industry has chances to increase performance and safety because to developments in webbing technology. This includes the creation of webbing materials with improved strength, toughness, and wear-and-tear resistance. Furthermore, sophisticated safety features like load monitoring and automatic tensioning can be made possible by the incorporation of smart textiles and sensors into webbing systems. The need for automotive webbings is expected to rise across a number of end-user industries, including aerospace, automotive, military, industrial & safety, fashion accessories, e-textile, sport goods, marine, medical, and others in the future years. Leading webbing producers and industry participants are creating cutting-edge products by fusing together different polymers including Dyneema, Kevlar, Technora, and Spectra. It is anticipated that the introduction of new products will increase demand for webbing and open up enormous prospects for market expansion in the next years.
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Global Automotive Webbing Market Share, by Product, 2022
The polyester sub-segment accounted for the highest market share in 2022. In comparison to natural webbing materials, the demand for man-made webbing has increased more dramatically. Polyester is a synthetic fiber manufactured from petroleum, a non-renewable resource with a high carbon footprint. The noteworthy characteristics of polyester include its high tensile strength, resistance to water, abrasion, and UV radiation, as well as its resistance to chemicals, stretching, and shrinkage. The use of polyester-based webbing has thus been expanded across a diverse application bases, including marine fabric applications, bag handles, sail ties, and support straps, among other sorts of man-made webbing material. When compared to other webbing materials, polyester webbing is relatively inexpensive, which makes it a desirable alternative for automakers. It is a cost-effective option for a variety of automotive applications since its affordability does not affect its strength, durability, or safety features. The automotive sector is paying more attention to environmental issues and sustainable practices. Polyester webbing is recyclable and may be made from recycled polyester components, which minimizes its negative environmental effects. Polyester webbing may offer market potential as demand for environmentally friendly vehicle parts and materials rises. The automotive sector is still expanding, especially in emerging markets. Vehicle sales and production are driving up demand for polyester webbing used in automotive applications. The demand for webbing materials in the automobile industry is driven by consumers' growing preference for safety, comfort, and aesthetic aspects in cars.
Global Automotive Webbing Market Size, by Region, 2022
North America accounted for the highest revenue share in 2022. This region has a sizable consumer base and is home to numerous significant automakers. The need for automotive webbing in North America is driven by aspects like technological improvements, a growing emphasis on automobile safety, and strict safety requirements. Automotive webbing sales in North America are impacted by a number of variables, including vehicle manufacturing, consumer preferences, safety regulations, and monetary situations. The manufacture and distribution of autos in the area affect the need for webbing materials. Therefore, the market for automotive webbing may be impacted by variables impacting the automotive sector, such as financial stability, consumer spending, and production trends.
Regulations and safety requirements also have a significant impact on the need for automotive webbing. North American governments and regulatory agencies have put into place strict auto safety laws, including the use of seat belts and safety harnesses. High-quality webbing materials are required to comply with these criteria. The need for creative and effective webbing solutions has also grown as a result of improvements in automobile technology and a rising priority on vehicle safety. To address the changing needs of the automobile sector, manufacturers are consistently creating webbing materials with enhanced strength, durability, and safety features.
Competitive Scenario in the Global Automotive Webbing Market
Product launch and technological advancements are the top strategies adopted by the market players. Tennessee Webbing Products announced the opening of new custom webbing sourcing services on July 6, 2020. Tennessee Webbing Products provide high-quality sourcing choices for seatbelt webbing, polypropylene webbing, industrial webbing, military webbing, hardware, and webbing assemblies. Hardware and webbing assemblies are also offered by Tennessee Webbing Products. Hardware includes elements like buckles, hooks, and adjusters that are used with webbing to produce useful items. Combining webbing materials with hardware to produce finished goods or components for certain purposes is known as webbing assembly.
Some of the leading automotive webbing market players are Murdock Webbing Company, Inc., National Webbing Products Co., Jiangsu Daxin Ribbon Co., Ltd., Elastic-Berger GmbH & Co. KG, Autoliv, American Cord & Webbing Co., Inc., Key Safety Systems, Ningbo BX Automotive Co., Ltd., Ashimori Industry Co. Ltd., and Continental AG.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Product
Key Companies Profiled
Q1. What is the size of the global automotive webbing market?
A. The size of the global automotive webbing market was over $1,148.0 million in 2022 and is projected to reach $1,780.9 million by 2032.
Q2. Which are the major companies in the automotive webbing market?
A. American Cord & Webbing Co, Inc, Bally Ribbon Mills, BioThane Coated Webbing Corp, and E. Oppermann GmbH are some of the key players in the global automotive webbing market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product innovation, strategic partnerships and collaborations and global expansion are the key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Autoliv, Toyobo Co., Ltd., TEIJIN Limited, Milliken & Company, and National Webbing Products Co. are the companies investing more on R&D activities for developing new products and technologies