Newark, NJ, Oct. 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global conductive textiles market is expected to grow from USD 1.86 billion in 2020 and to reach USD 6.31 billion by 2028, growing at a CAGR of 16.5% during the forecast period 2021-2028.
The conductive textiles market is witnessing significant growth from the past years. This growth is attributed to the growing awareness of the superior functionality and application of conductive fabrics which has led to the increasing adoption of fabrics and related products in various end-use sectors. Conductive fabrics are flexible, durable, light-weight and have high strength. Increasing awareness of the features and benefits of using conductive fabrics in smart fabrics and wearable devices has increased demand globally.
Conductive fibers and yarns are adopted by various end-users such as military and defense, medicine and healthcare, sports and fitness, and consumer electronics. Conductive textile materials are generally made up of organic polymers, which are perfect insulators. However, due to the weak electrical conductivity, the electrical load accumulates on the surface of the organic polymers. Therefore, to prevent the accumulation of electrical loads and increase the possibility of electrical load transfer and achieve an electromagnetic shielding effect, textile materials are transformed into electrical conductors by different methods. Conductive fabrics have the softness and brittleness of the fabric combined with electrical properties. These fabrics are used in projects that require a soft, flexible and washable circuit. Materials can be sewn, cut, stretched, wrinkled and shaped in ways that heavy metals, carbon and plastics cannot be used.
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The global conductive textiles market is expected to witness significant growth, owing to the growing awareness of the benefits of conductive fabrics, high demand from the military and defense sectors. The ever-increasing conductive textiles market is expected to fuel demand. The factors restraining the market growth are the high cost of finished products affecting the adoption rate in developing regions. Developing conductive fabrics using graphene inks and increasing the use of conductive material in wearable fitness and medical devices will provide market growth opportunities.
Key players operating in the global conductive textiles market include Taimide Tech Inc., Saint- Gobain, SKC Kolon Inc., Kolon Industries Inc., Kaneka Corporation, Arakawa Chemicals Ltd., E.I. Dupont De Nemours & Company, Ube Industries Ltd., Dupont-Toray Ltd., FLEXcon Company Inc., Shinmax Technology Ltd. To gain a significant market share in the global conductive textiles market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Woven textiles segment dominated the market and held the largest market share of 44.9% in the year 2020
Based on product, the global conductive textiles market is segmented into Woven textiles, Non-Woven textiles and Knitted textiles. The Woven textiles segment dominated the market and held the largest market share of 44.9% in the year 2020 owing to its increased use of conductive wearable devices that can monitor the battlefield, monitor soldier health, and support in communication and temperature monitoring.
Military & Defence segment dominated the market and held the largest market share of 38% in the year 2020
Based on application, the global conductive textiles market is segmented into Military & Defence, Sports & Fitness and Healthcare. The Military & Defence segment dominated the market and held the largest market share of 38% in the year 2020 owing to the advanced active insulation materials offer warmth in colder conditions without adding excessive weight to the final product.
Polyester segment dominated the market and held the largest market share of 30.2% in the year 2020
Based on fabric, the global conductive textiles market is segmented into cotton, wool, polyester, and nylon. The Polyester segment dominated the market and held the largest market share of 30.2% in the year 2020. Owing to its property of being strong and resistant to most chemicals it is used as raw material to make conductive garments such as jackets and sportswear which leads this segment to growth in the forecast period.
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Regional Segment of Conductive Textiles Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global conductive textiles market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 36% in the year 2020. The Europe region is witnessing considerable growth in Germany, owing to the presence of advanced infrastructures and technologies, automotive heritage and highly qualified workforce. The market in North America is expected to witness significant growth, owing to the presence of a large technology-based population and on-going research and development. The growth in the Asia-Pacific area is due to the increasing awareness among people regarding the use of conductive wearables and transitioning trend towards health consciousness in the country.
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About the report:
The global conductive textiles market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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