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(Transportation-News.com, November 30, 2018 ) According to the new market research report "Conductive Textiles Market by Fabric Type (Cotton, Nylon, Polyester, Wool), Type (Woven, Non-Woven, Knitted), End-User (Military & Defense, Healthcare, Sports & Fitness, Consumer Electronics), and Region - Global Forecast to 2021", published by MarketsandMarkets™, the global conductive textiles market was valued at USD 1.02 Billion in 2016 and is projected to reach USD 2.11 Billion by 2021, at a CAGR of 15.6% from 2016 to 2021.
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Increasing awareness of the advantages of conductive textiles, high demand from the military & defense sector, and growing smart fabrics market are the key factors driving the growth of the conductive textiles market.
Woven textile is the fastest-growing type segment of the global conductive textiles market
Based on type, the woven textile segment is projected to grow at the highest CAGR from 2016 to 2021. Woven textiles are widely utilized by various end-use industries such as military & defense, healthcare, and sports & fitness. As these textiles offer high standard performance in shielding and conductivity, they are considered to be the preferred type of conductive textiles utilized across the globe, thereby boosting the growth of the woven textile segment.
Browse and in-depth TOC on "Conductive Textiles Market"
84 - Tables
44 - Figures
130 - Pages
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Sports & fitness is the fastest-growing end user segment of the global conductive textiles market
Based on end user, the sports & fitness segment is anticipated to grow at the highest CAGR from 2016 to 2021. Increased awareness about health, fitness, and wellness, globally has led to a high demand for wearable devices, as they are mainly used to monitor sleep, calories consumed, heart rate, and blood pressure, among other health parameters. Conductive textiles are used in the manufacture of products, such as smart shirts that record heart rates, intelligent bands that track physical activities, and other fitness monitoring devices. Thus, increase in demand for such health monitoring devices has contributed to the growth of the conductive textiles market.
Asia-Pacific is the fastest-growing regional segment of the global conductive textiles market
The conductive textiles market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are key countries contributing to the high demand for conductive textiles in the Asia-Pacific region. Increasing awareness regarding the benefits and functionalities of conductive textiles has boosted the growth of the market in this region.
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Key players operating in the conductive textiles market include Parker Chomerics (U.S.), Toray Industries, Inc. (Japan), Laird PLC (U.K.), and Bekaert (Belgium), among others.
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