ALBANY, New York, Feb. 13, 2019 /PRNewswire/ -- The global conductive textiles market has a highly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This can be attributed to the presence of a large number of small- and large-scale companies in the market. Seiren Co., Toray Industries, Bekaert, Parker Chomerics, and Laird Plc are the top companies working in the global conductive textiles market.
Among the various business strategies adopted by the players in the global conductive textiles market to stay ahead of competitors, merger and acquisition with smaller firms has paid off the most. The global conductive textiles market is expected to grow steadily due to the existence of medium-sized players who are collaborating with larger firms to receive better business opportunities. These players are highly investing in various forms of apparels to stay abreast with the propensities and latest trends of the market.
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According to experts from TMR, the global conductive textiles market is expected to gain revenue worth US$2.1 bn by the end of 2022. Experts project this growth to occur at a promising CAGR during the forecast period from 2017 to 2022.
Among the various end-use industries in the global conductive textiles market, growing demand for conductive textiles from military and defense is expected to boost the global conductive textiles market. This is because of the increasing use of electronic sensors in latest military outfits. Region wise, North America is expected to account for the leading share in the global conductive textiles market in the coming years. This is attributed to a flourishing semiconductor and electronics industries in the region and also the rapid technological advancements.
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Demand for Sports and Fitness Apparel with Sensory Apparatus to Boost Conductive Textiles Market
They are the fabric which are usually made from metal strands woven. The conductive metals such as silver, titanium, gold, nickel are extensively used in these textile. Such textiles can shield electromagnetic interference and helps in controlling static electricity. Increasing use of electronics in various industries, and growing adoption of such textiles in fitness apparel industry are the factors driving the global conductive textiles market. Along with these, increasing demand for clothing which can sense several biomarkers, and growing demand for special clothing in order to monitor physical and exercise fitness activities in urban consumers are also propelling the growth of the global conductive textiles market.
Furthermore, growing use of electronic sensors in military outfits, and rapid incorporation of advanced technology in military apparel are boosting the demand in the global conductive textiles market. Apart from all these, conductive textiles are light weight, durable, flexible, and provide high strength. Such factors are also boosting the global conductive textiles market.
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High Cost of Finished Product Hinders Global Conductive Textiles Market Growth
A few challenges hindering the growth of the global conductive textiles market are high costs of the apparel, various complications and risks associated with these use, and difficulties associated with the maintenance. Nonetheless, the persistent demand from the athletes, and growing adoption of conductive textiles for monitoring body temperature and heart rate are trends believed to help overcome these challenges in the near future.
The review is based on a market research report by TMR, titled, "Conductive Textiles Market (Product Type - Woven, Non-woven, Knitted, and Wool; End-use Industry - Healthcare, Military & Defence, Sports & Fitness, Consumer Electronics, Aviation, and Automotive; Fabric Type - Cotton, Nylon, Polyester, and Wool) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022."
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The Segmentation of global Conductive Textiles Market is based on:
- Military and defense sector
- Sports and Fitness
- Consumer Electronics
- Automotive Industry
- Aviation Sector
- North America
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