The global conductive textiles market is experiencing growth due to several factors, such as increased demand from end industries and rising demand from the automotive industry.
PORTLAND, Ore., June 26, 2023 /PRNewswire/ -- Allied Market Research published a report titled, "Conductive Textiles Market by Fabric Type (Nylon, Cotton, Polyester, and Wool) by Product Type (Woven Textile, Non-Woven Textile, and Knitted Textile) by End-use Industry (Military and Defense, Healthcare, Sports and Fitness, Consumer Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032." According to the report, the global conductive textiles market was valued at $2.1 billion in 2022 and is projected to reach $6.3 billion by 2032, growing at a CAGR of 11.8% from 2023 to 2032.
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Prime Determinants of Growth-
The global conductive textiles market is experiencing growth due to several factors, such as increased demand from end industries and rising demand from the automotive industry. However, the high manufacturing costs hinder market growth to some extent. Moreover, increasing demand for nanotechnology in conductive textiles offers remunerative opportunities for the expansion of the Conductive textiles market.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $2.1 Billion |
Market Size in 2032 | $6.3 Billion |
CAGR | 11.8 % |
No. of Pages in Report | 580 |
Segments Covered | Fabric Type, Product Type, End Use Industry, and Region |
Drivers | Increased demand from end-use industries |
Increasing demand from the automotive sector | |
Opportunities | Nanotechnology in conductive textile |
Restraints | High manufacturing costs |
Impact of Russia-Ukraine War on the Conductive Textiles Market:
- The conflict disrupted the supply chains of conductive textile materials, as both Russia and Ukraine played significant roles in their production and export. Disruptions in the supply of raw materials or components from these countries led to shortages and increased prices, affecting the overall market.
- The conflict disrupted regional trade dynamics, causing shifts in demand and supply patterns for conductive textiles. Industries in the affected regions sought alternative suppliers or adjusted their sourcing strategies to mitigate risks. This led to a reconfiguration of supply chains and changes in market dynamics. Overall, the Russia-Ukraine conflict caused disruption and uncertainty in the conductive textiles market. Businesses in this sector had to closely monitor the situation, diversify their supply chains where possible, and adapt their strategies to mitigate risks.
The nylon segment is expected to lead the trail by 2032-
Based on fabric type, the nylon segment held the highest market share in 2022, accounting for nearly two-fifths of the global conductive textiles market revenue and is expected to lead the trail by 2032. The same segment is estimated to register the fastest CAGR of 12.2% from 2023 to 2032. This can be attributed to the fact that conductive nylon textiles can be utilized to develop wearable fitness trackers, smart clothing with embedded sensors for monitoring vital signs, or even interactive garments with touch-sensitive capabilities.
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The woven textile segment to maintain its leadership status throughout the forecast period-
Based on the product type, the woven textile segment held the highest market share in 2022, accounting for nearly half of the global conductive textiles market revenue and is expected to maintain its leadership status throughout the forecast period. This can be attributed to the fact that woven textiles are incredibly versatile and can be used in a wide range of applications, including clothing, home furnishings, industrial textiles, and technical textiles. Their ability to be woven into various patterns, densities, and textures makes them suitable for different purposes, from lightweight and breathable fabrics to heavy-duty and durable materials. However, the non-woven textile segment is projected to manifest the highest CAGR of 12.1% from 2023 to 2032. The growth is attributed to non-woven conductive textiles, which can offer a cost-effective solution compared to traditional woven or knitted conductive fabrics. Their efficient manufacturing processes and the ability to produce them in large volumes make them suitable for disposable or low-cost healthcare applications, where cost considerations are important.
The military and defense segment to maintain its lead position during the forecast period-
Based on the end use industry, the military and defense segment held the highest market share in 2022, accounting for one-third of the global conductive textiles market revenue and is expected to maintain its lead position during the forecast period. The same segment would also cite the fastest CAGR of 12.3% from 2023 to 2032. This is due to the fact that conductive textiles have several potential applications in the military and defense industries due to their unique properties. Conductive textiles can be integrated into military uniforms to enhance soldier's capabilities.
Europe to maintain its dominance by 2032-
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global conductive textiles market revenue and is expected to maintain its dominance in terms of revenue throughout the forecast timeframe. In Europe, the market for conductive textiles is growing both in terms of usage and production, owing to the expanding medical industry, technological advancements, and rising consumer demand for smart fabric wearables. Germany has the greatest share of the European market because it has modern infrastructure and technology, a long history of making cars, and a highly skilled workforce. On the other hand, the Asia-Pacific region is projected to register the fastest CAGR of 12.4% from 2023 to 2032. Countries in the Asia-Pacific region, particularly China, India, and Southeast Asian nations, have been experiencing rapid industrialization in the automotive sector. This industrial growth has led to an increase in the growth of the conductive textiles market in automotive wiring and cables, which are making automobiles lighter and more fuel-efficient. All of these factors are anticipated to drive the conductive textiles market.
Leading Market Players:
- TORAY INDUSTRIES, INC.
- DuPont de Nemours, Inc.
- Kaneka Corporation.
- Saint-Gobain
- Shieldex
- Shinmax Technology Ltd
- UBE Corporation
- 3M Company
- Coatex Industries
- Kolon Industries Inc.
The report provides a detailed analysis of these key players in the global conductive textiles market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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