Conductive Textiles Market Driven by Increasing Demand From Military and Defense Sector, Finds TMR
ALBANY, New York, September 4, 2017 /PRNewswire/ --
Conductive textiles are an emerging class of textiles beginning to gain demand in a number of sectors. Conductive textiles are made by combining conventional textiles such as cotton with conductive materials to produce textiles that can conduct electricity, but can still be worn safely by users. The conductivity of conductive textiles can be put to use in various sectors due to the increasing incorporation of electronics and body sensors. The healthcare sector is thus likely to remain a key contributor to the global conductive textiles market in the coming years, with healthcare innovation emerging as a major expenditure avenue across the world due to rising awareness about its importance to maintaining the health of a country's population, which has led to government support and significant private investment in several countries.
According to Transparency Market Research, the global conductive textile market [http://www.transparencymarketresearch.com/conductive-textiles-market.html ] was valued at more than US$1.6 bn in 2017 and is likely to rise to a valuation of more than US$2.1 bn by 2022. The market is likely to exhibit a steady CAGR over the forecast period due to the steady prospects for the conductive textiles market in a number of booming industrial sectors such as defense equipment and clothing, healthcare, and sports and fitness apparel.
Major Highlights of the Conductive Textiles Market:
The others product type is likely to rise at a robust 5.4% CAGR from 2017 to 2022. The others segment is likely to benefit from the growing demand for innovative conceptions in the conductive textiles market and the availability of several methods to incorporate conductive materials into textiles. Conductive wires and coatings are the conventional methods of producing conductive textiles and are likely to remain in vogue over the coming years.
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The North America conductive textiles market is likely to remain the strongest regional contributor to global market figures thanks to the steady presence of several leading players in the textiles industry as well as the electronics industry. North America is also home to key innovators in the technological sector, which has led to easy availability of the technological framework required for the production of advanced and innovative conductive textiles. The North America market for conductive textiles was valued at US$340.4 mn in 2017 and is expected to rise to US$445 mn by 2022.
Players in the Asia Pacific market for conductive textiles could make significant inroads into the global market in the coming years due to the rising prominence of the textiles industry in countries such as China and India. Advanced production technologies are steadily becoming the norm in the textile industry in emerging countries in Asia Pacific, which could lead to Southeast Asian countries emerging as key producers in the conductive textiles market in the coming years. Japan is likely to dominate the Asia Pacific market in the coming years due to the presence of several leading electronics industry players in the region and the steady acceptance of technological innovations in the healthcare sector.
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The rising demand for military modernization efforts across the world is likely to entail significant thrust for the global conductive textiles market. Military modernization presents significant scope for conductive textiles industry players, as it is likely to present a steady rise in demand over the coming years. The rising use of electronic sensors in military clothing is likely to ensure a steady stake of the military and defense sector in the global conductive textiles market in the coming years.
Competitive Dynamics
Leading players in the global conductive textiles market include Bekaert Inc., Seiren Co. Ltd., Toray Industries, Inc., Laird Plc, and Parker Chomerics.
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