Webbing Market Demand Is Expected To Reach 616.2 kilo tons By 2020: Grand View Research, Inc.

The global market for webbing is expected to reach USD 3.52 billion by 2020, according to a new study by Grand View Research, Inc. Webbing demand is expected to grow with widening application scope including seat belts, safety harnesses and towing straps in automotive and transportation. Increasing construction spending coupled with growth in automotive manufacturing is expected to be critical for market development over the next six years.

Automotive & transportation was the largest application market for webbing products, with demand estimated at 158.6 kilo tons in 2013 owing to increased awareness regarding use of seatbelts for passenger safety and stringent traffic safety regulations promoting to avoid casualties. Webbing demand for sporting goods was estimated at 103.4 kilo tons in 2013 and is estimated to grow at a CAGR of 4.2% from 2014 to 2020.

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