Published: Jun, 2018
The global market for conductive textiles is expected to grow at a robust rate over the forthcoming years. This is due to the awakening of several industries about the uses of conductive textiles for a variety of industrial, commercial, and residential activities. Since the market for conductive textiles is closely aligned with the clothing industry, the market players are expected to capitalise on producing various forms of apparels to fit the needs of the customers. The global market for conductive textiles is highly fragmented as a number of market players with differing sizes, scales, and portfolios coexist in the market. Furthermore, there is cutthroat competition amongst the leading market players as each of them is continually introducing newer and better business strategies. It is anticipated that these leading market players would either acquire or partner with the smaller firms in order to reap the benefits of strategic expansion. Collaborations with larger firms are expected to benefit the medium-sized players too who will be at the receiving end of better business chops. In order to sustain in the global market for conductive textiles, the new entrants are required to stay abreast with the latest trends and propensities of the market. Some of the leading market players in the global conductive textiles market are Laird Plc, Seiren Co. Ltd., Bekaert Inc., Toray Industries, Inc., and Parker Chomerics. These market players have been making strides in the global market over the past decade and are expected to continue on their trail of excellence over the coming years.
A report prepared by the analysts at Transparency Market Research (TMR) predicts that the global market for conductive textiles would touch a value of US$2.1 bn by 2022 from a total worth of over US$1.7 bn in 2017.
Utility of Conductive Textiles across Multiple Industries to Propel Demand
The primary driver of demand within the global market for conductive textiles is the military and defense industry. Owing to the momentous size of the industry, the use of conductive textiles by the military personnel accelerates the growth of the global market. The properties of conductive textiles make them extremely useful for the electronics industry, which further enhances the growth prospects of the global market. Fitness apparels fitted with special sensors to monitor an individual’s body temperature and heart rate are made up of conductive textiles. Hence, the rising inclination towards sports, fitness, and strenuous activities has also proved to be a boon for the global market for conductive textiles.
North America to Emerge as Leading Regional Segment
The global market for conductive textiles market is expected to reap the highest revenues from the North American region. The presence of a large number of manufacturers in the electronics and semiconductor industry has been the primary accelerator of growth across the region. Furthermore, a large number of application segments exist in North America, which has further given a push to the demand for conductive textiles. The CAGR of the market for conductive textiles in North America is expected to be 5.5% over the period between 2017 and 2022.
The review is based on TMR’s report titled, “Conductive Textiles Market (Product Type - Woven, Non-woven, Knitted, Wool; End-use Industry - Healthcare, Military & Defence, Sports & Fitness, Consumer Electronics, Aviation, Automotive; Fabric Type - Cotton, Nylon, Polyester, Wool) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”.
Global Conductive Textile Market Segmentation
- Military and defense sector
- Sports and Fitness
- Consumer Electronics
- Automotive Industry
- Aviation Sector
- North America
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