Market Trends of Conductive Textiles Industry
This section covers the major market trends shaping the Conductive Textiles Market according to our research experts:
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.
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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).
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