The global webbing market size is anticipated to reach USD 4.94 billion by 2025, according to a new report by Grand View Research, Inc., registering a 6.9% CAGR during the forecast period. Rising production of automotive vehicles and demand for passenger vehicles globally are key factors triggering market growth. Nylon-based webbing is commonly used in all automotive belt applications due to high elasticity of the material. Polyester webbings are used in racing cars as they provide improved elasticity and strength under load. Continued application of the product in the automotive sector is anticipated to be a crucial driver for market growth. Global passenger vehicle production increased by nearly 4.9% from 2015 to 2016.