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Introduction

Wearable devices are smart electronic devices incorporated with the clothing or worn on the person as accessories or implants. They are made of bio-compatible materials and possess properties such as durability, flexibility, strength, stiffness, toughness, lightness of weight, color stability, chemical and stain resistance, sweat resistance, UV resistance, and resistance to cracking. Materials used in the manufacture of wearable devices include fluoroelastomers, polyurethanes, and silicones.

Global Wearable Materials Market: Trends & Developments

The global wearable materials market has been expanding due to the rise in disposable income in emerging economies and increase in demand for low-cost wearables. Rise in popularity of Internet of Things (IoT) and connected devices is expected to be another key factor expected to boost the global wearable materials market during the forecast period. Volatility in prices of raw materials and fluctuation in supply and demand are estimated to restrain the wearable materials market.

Global Wearable Materials Market: Segmentation

Based on the type, the global wearable materials market can be segmented into polyurethanes, fluoroelastomers, silicones, and others. Silicones are known for their biocompatibility and wide range of skin care applications, including peel and stick technology for wearable skin applications. Silicone adhesives are used in a wide range of applications such as wound care products, wearable monitoring devices, specialty cosmetic applications, medical device attachments, and external prosthetic devices. Polyurethane conformal coatings are used to protect sensitive micro-electronics, circuitry components, micro-controllers, sensors etc. Polyurethane optical fibers are employed in wearable breath monitoring sensors, owing to their mechanical flexibility to measure inhalation and exhalation motions through optical transmission variations of the fiber induced by bending and stretching. Fluoroelastomers are commonly used in the manufacture of wristbands. They are used in various wearable devices, as they provides luxurious look and feel, and increased durability and comfort.

Global Wearable Materials Market: Regional Outlook

In terms of region, the global wearable materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the major region of the global wearable materials market. The market in the region is projected to expand at a significant pace during the forecast period. Additionally, rapid growth in electronics and semi-conductor industries in China and Japan is likely to positively influence the wearable materials market. China, South Korea, and Japan are the key countries for wearable materials in Asia Pacific. Emerging economies such as India and Vietnam are also expected to contribute substantially to the wearable materials market. North America is a vital region of the wearable materials market. The wearable materials technology in the U.S. is rapidly gaining popularity owing to the increase in demand for wrist-wear, fitness-wear, and health and wellness monitoring applications. Growth in popularity of wearable devices in the U.S. is estimated to drive the global wearable materials market.

Global Wearable Materials Market: Key Players

Key players operating in the global wearable materials market are BASF SE, Wacker Chemie AG, Arkema, Eastman Chemical Company, Elkem ASA, Koninklijke DSM N.V., The Lubrizol Corporation, Momentive, DowDuPont, Shin-Etsu Chemical Co., Ltd., Emerald Performance Materials, Covestro AG, Sumitomo Chemical Co., Ltd., Solvay, 3M, Sekisui Chemical Co Ltd., and DAIKIN INDUSTRIES, Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wearable Materials Market

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