New York, June 12, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research (PMR), the global conductive textiles market value reached US$ 2.0 billion in 2022. During the forecast period 2023 to 2033, global conductive textile sales are projected to rise at 10.1% CAGR. Total market value is expected to increase from US$ 2.2 billion in 2023 to US$ 5.8 billion.
Adoption of conductive textiles is likely to remain high in defense sector. This is due to rising usage of these textiles in numerous military & defense applications. As per the latest analysis, defense segment is forecast to progress at a robust CAGR of 9.7% from 2023 to 2033.
Growth in the market is driven by rising usage of conductive textiles across various industries. This includes healthcare, defense, sports, and consumer electronics.
Conductive textiles are innovative textiles that conduct electricity. These textiles are being used in several applications due to their antistatic property and high thermal and electrical conductivity.
One of the key application areas of conductive textiles is the military & defense sector. Conductive textiles are being increasingly used for making uniforms and other military equipment. This is because these textiles can effectively protect soldiers and electronic devices in harsh environments.
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Rising usage of conductive textiles across the thriving military & defense sector is expected to boost the global market during the forecast period.
Growing popularity of conductive textiles in healthcare sector is likely to elevate demand in the global market. Conductive textiles are being used in various medical devices due to their excellent properties.
Similarly, high adoption of conductive textiles in consumer electronics and sports & fitness sectors will bolster sales.
As people are becoming more health conscious, they are showing a keen inclination towards using smart wearables. These equipments are made from conductive textiles and help users to monitor vital parameters such as heart rate. Driven by rising usage of these smart wearables, the global conductive textiles industry will witness a positive growth trajectory.
Key Takeaways from the Conductive Textiles Market Report:
- Global sales of conductive textiles are anticipated to soar at 10.1% CAGR during the assessment period.
- Based on textile, woven segment is forecast to exhibit a CAGR of 9.8% through 2033.
- By end use, defense segment is likely to progress at 9.7% CAGR during the next ten years.
- The United States conductive textiles market size is projected to reach US$ 1.1 billion by 2033.
- China conductive textiles industry is anticipated to cross a valuation of US$ 1.3 billion by 2033.
- Conductive textile demand in Korea market is expected to rise at 9.6% CAGR during the projection period.
- Japan market is poised to witness a CAGR of 10.0% from 2023 to 2033.
“Rising popularity of conductive textiles as well as smart textiles across various sectors is expected to create lucrative growth prospects for the global market. To gain maximum profits, companies are focusing on expanding their portfolios and using advanced manufacturing technologies.” Says a Persistence Market Research (PMR) analyst.
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Who is Winning?
Coatex Industries, Laird PLC, Aiq Smart Clothing Inc., Emei (HK) Electronics Ltd., Parker Chomerics HITEK Electronic Materials Ltd, Holland Shielding Systems BV, Marktek Inc, Jarden Applied Materials, and NV Bekaert SA are few of the leading conductive textile manufacturers profiled in the report.
These key companies are vigorously investing in research and development to introduce novel solutions with enhanced features. Mergers, partnerships, acquisitions, and collaborations are other strategies adopted by companies in this marketplace.
Recent developments:
- In July 2019, Laird PLC unveiled selective plating & high electrical conductivity onto both sides of stretchable fabrics.
More Insights Available:
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the conductive textiles market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on textile (woven, non-woven, and knitted) and end use (defense, sports, consumer electronics, healthcare, and others) across various regions.
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Persistence Market Research's (PMR) highly experienced Industrial Automation team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help
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