The market for Conductive Textiles is expected to grow at a CAGR of about 4% globally during the forecast period. Major factors driving the market studied are increasing application in smart fabrics and growing demand from defence & military, healthcare sectors. High price bar of conductive textile made products and other restraints are expected to hinder the growth of the market studied
Conductive Textiles market is expected to grow during the forecast period owing to the less maintenance cost and its increasing demand from defence & military and healthcare sector.
Asia-Pacific dominated the market across the globe with the largest consumption from the countries such as China, India and Japan.
Key Market Trends
Growing demand from Defense & Military, Healthcare Sectors
- Conductive textile materials are majorly used in smart fabric applications, especially those that monitor body functions. They are widely used in smart textile applications such as sensors, communication, heating textiles and electrostatic discharge clothing.
- Electroconductive materials are required in sensors, actuators and heating panels used in smart fabrics, and the best-suited materials are highly conductive metals such as copper, silver and steel.
- These smart fabrics made of smart textiles find major application in defense & military, healthcare sectors. In healthcare industry these conductive textiles made smart fabrics are mostly used to monitor the patient and communicate conditions of patients, as they can detect, acquire, and transmit physiological signals by wearable fitness and medical devices
- In defense and military sectors, they find wide applications to provide durability, safety, and protection in hostile environments and also to integrate high tech devices and materials into uniforms
- In 2019, eight hospitals including Emory Healthcare, Kaiser Permanente and few others announced, began construction and facility expansion in United States with budget worth USD 1 billion and more increasing the application smart fabrics in patient monitoring thereby increasing the application of conductive textiles
- Growing healthcare, defense & military and other sectors in China, United Kingdom, United States, India, Japan and other countries are playing a major role in this market.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for conductive textiles during the forecast period (2020-2025). In countries like China, India and Japan because of growing application of smart fabrics in different sectors, the demand for conductive textiles has been increasing in the region
- The largest producers of conductive textiles are located in Asia-Pacific region. Some of the leading companies in the production of conductive textiles are TORAY INDUSTRIES, INC, Arrow Technical Textiles Private Limited, HYOSUNG, Bekaert.
- In 2019, China has set its defense spending at 7.5 percent higher than a year ago of about Yuan 1.19 trillion or USD 177.61 billion increasing the application of conductive yarns in smart fabrics as a part of technological advancement.
- In India, the Defense Budget has seen a rise of 6.87% from INR 2.98 lakh crore during FY'18-19 to INR 3.18 lakh crore for the FY'19-20.
- Apart from healthcare, defense & military sectors these conductive textiles are used in industries for static applications and also to prevent electromagnetic interference
- The aforementioned factors coupled with government support are contributing to the increasing demand for conductive textiles market during the forecast period (2020-2025).
The global conductive textiles market is partially fragmented with players accounting for a marginal share of the market. Few companies include are TORAY INDUSTRIES, INC, Arrow Technical Textiles Private Limited, HYOSUNG, Bekaert and Kinetic Polymers among others.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support