September 13, 2022 14:38 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Sept. 13, 2022 (GLOBE NEWSWIRE) -- According toFacts and Factors has published a new research report titled “Conductive Textile Market Size, Share, Growth Analysis Report By Fabric (Cotton, Polyester, Wool, and Nylon), By Product (Woven Conductive Textiles, Non-Woven Conductive Textiles, and Knitted Conductive Textiles), By Industry Vertical (Military and Defense, Healthcare, Consumer Electronics, Sports and Fitness, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Conductive Textile Market size & share in terms of revenue was valued at USD 2.01 billion in 2021 and it is expected to surpass around USD 12.5 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 15.8% during the forecast period 2022 to 2028.”
A conductive textile is a fabric that is manufactured from the metal strands that are blended, coated, or woven during the creation. Conductive metals such as titanium, gold, silver, carbon, and nickel are made by textile. Cotton, nylon, wool, and polyester are the base materials of fabric. Conductive textiles employ the property which can conduct electricity and thus, are utilized in various applications by different industries. It is estimated that vehicles in the future will wear an expanded number of textiles and the key drivers to this expanded demand are need for more fuel-efficient and lighter vehicles, the rising usage of passive safety devices, rising disposable incomes in all emerging economies, adoption of solid safety norms by populous and growing countries.
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The COVID-19 pandemic has had a noticeable impact on the industry forecast for conductive textiles. During the first quarter of the pandemic, a decreased production of wearables and consumer electronics was witnessed in many parts of the globe. The suspension of major aerospace, electronics, and automotive production facilities came out as a key factor behind the sluggish product supply. The producers of conductive fabrics observed numerous roadblocks owing to supply chain issues, restrictions on movement, and logistics disruption. However, the conductive textile market has witnessed definite opportunities due to expanded expenditure on military & defense and healthcare.
The rising awareness about the robust application and functionality of conductive fabrics would lead to the extensive adoption of conductive textiles and related goods. The increase in concern for health awareness among consumers and higher disposable income in emerging nations boosts the global conductive textile market growth. The bent towards modern procedures to maintain lifestyle and fitness propels the demand for the market and ensures good value in the market in the coming years. A wide variety of usage among different industries, including the defense and military sectors is rising the conductive textile market size globally. Moreover, these textiles are strong and have a longer life span; these factors will expand the smart fabrics market value, which will eventually augment the share of the conductive textile market. Conductive textiles are recyclable, and this benefit will boost growth industrially.
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The outbreak of the COVID-19 virus was beneficial to the expansion of the worldwide market since it compelled healthcare providers to increase the scope of their services. Hospitals across the world were at capacity, and there were no openings available in any of the world's hospitals. As a result of the development of new manufacturing technologies and fibers for textiles and yarns, the final applications of textile materials in a number of different domains have expanded dramatically. In the field of medical textiles, one of the most significant applications for textile materials can be found. Wearable technologies that are able to capture multiple types of physiological information are gradually becoming more commonplace in people's day-to-day activities.
Monitoring physiological markers, which are important health indicators, could facilitate the early and efficient diagnosis of disease. This would help reduce the number of other serious health concerns, as well as lower the overall cost of health care provided by the public sector and aid in disease prevention. The majority of what is sold as "industrial" or "technical" apparel in today's market is intended to provide personal protection. The person who wears it will hopefully be protected from harsh environmental factors that could kill or hurt them.
The global conductive textile market is segmented based on type, product, industry vertical, and region.
Based on product, the global market is segmented into woven conductive textiles, non-woven conductive textiles, and knitted conductive textiles. Non-woven textiles are likely to hold a significant share which is estimated to register a noticeable growth with respect to its superior water repellent, flame resistant, and abrasion resistant characteristics. In addition, development in the product demand in the medical sector is likely to drive the growth of the market over the forecast period. Rising demand for these non-woven items in numerous sectors such as healthcare, automotive, and military has resulted in the rapid-paced development of these items.
Based on type, the global market segments are cotton, polyester, wool, and nylon. The polyester segment is likely to hold a significant market share. Polyester fabric is used widely as it is strong, and resistant to many chemicals, as well as shrinking; therefore, to make conductive wearables such as sportswear and jackets, it is used as a raw material, which is likely to drive the growth of the market. Moreover, cotton exhibits properties like easier breathability and provides admirable wearing comfort, making it well suited for conductive textiles manufacturing.
Based on industry vertical, the global market segments are military & defense, healthcare, consumer electronics, sports & fitness, and others. The military & defense segment held the largest share in the market owing to the increase in demand for performance-improving garments. Furthermore, the healthcare segment is likely to register substantial growth in the forecast period.
The global Conductive Textile market is segmented as follows:
Browse the full “Conductive Textile Market Size, Share, Growth Analysis Report By Fabric (Cotton, Polyester, Wool, and Nylon), By Product (Woven Conductive Textiles, Non-Woven Conductive Textiles, and Knitted Conductive Textiles), By Industry Vertical (Military and Defense, Healthcare, Consumer Electronics, Sports and Fitness, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/conductive-textile-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Some of the main competitors dominating the global Conductive Textile market include -
Key Insights from Primary Research:
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Europe is likely to dominate the global conductive textile market during the coming years. This high growth can be ascribed to advancements in technology on account of wearable technologies, combined with high research & development expenditure, and constant innovations in this market. Moreover, North America is the other market that is prominent in terms of increasing demand for conductive textiles.
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