PUBLISHER: Allied Market Research | PRODUCT CODE: 1344301
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344301
According to a new report published by Allied Market Research, titled, "Conductive Textiles Market," The conductive textiles market was valued at $2.1 billion in 2022, and is estimated to reach $6.3 billion by 2032, growing at a CAGR of 11.8% from 2023 to 2032.
The properties of conductive textiles include electrical conductivity, flexibility, durability, and compatibility with textile manufacturing processes. They can be woven, knitted, or non-woven, offering versatility in terms of fabric structures and designs. Conductive textiles are typically lightweight, breathable, and comfortable to wear, making them suitable for applications in wearable technology and smart textiles.
Conductive textile materials are utilized extensively in applications such as smart fabric, particularly those that monitor bodily functions. Communication, sensors, electrostatic discharge garments, and heating textiles are widespread applications for smart textiles. These intelligent fabrics have significant applications in the military, defense, and healthcare sectors. As they can acquire, transmit, and detect physiological signals by medical devices and wearable fitness, smart fabrics produced from these conductive textiles are primarily employed in the healthcare industry to monitor patients and communicate information about their conditions. Moreover, it has extensive applications in the military and defense sectors to provide safety, protection, and durability in hostile environments and to integrate high-tech materials and devices into uniforms. Hence, the demand for conductive textiles is increasing from the healthcare, defense, and military sectors which is driving the market for conductive textiles.
The global market for conductive textiles is seriously concerned about the high cost of producing conductive textiles. Cotton, nylon, polyester, and wool are conductive fabrics that are expensive to manufacture. Polyester, for example, is derived from crude oil. As a consequence, the price of raw materials for conductive textiles is affected by the volatility of crude oil prices. According to the report of BP Statistical Review of World Energy 2021, the price of crude oil has fluctuated over the past several years. In particular, the price of Brent crude oil decreased from US$52.39/bbl in 2015 to US$43.73/bbl in 2016, increased from US$54.19/bbl in 2017 to US$71.31/bbl in 2018, and then declined to US$41.84/bbl in 2020. In addition, the high manufacturing cost of conductive textiles resulting from extensive research and developments is expected to hamper the growth of the market as a whole. Due to factors such as price volatility and expensive R&D, the market for conductive textiles confronts an important hurdle.
Nanotechnology is the solution to all market setbacks in conductive textiles due to its remarkable advancements in conductive textiles, such as the creation of antistatic, oil- and water-repellent, and flame-retardant textiles. In addition to inhibiting ultraviolet light, nanotechnology also provides self-cleaning, flame-retardant, and wrinkle-resistant properties. Nanotechnology will create new opportunities in the market for conductive textiles. The production of nanoengineered textiles can be accomplished through a variety of methods. In one procedure, nanoparticles are woven into the fabric, while in another, they are applied to the surface of the finished product. The uniform distribution of nanoparticles in the polymer matrix provides the fabric with strength and resistance.
The conductive textiles market is segmented into fabric type, product type, end-use industry, and region. Depending on the fabric type, the market is divided into nylon, cotton, polyester, and wool. On the basis of product type, it is categorized into woven textile, non-woven textile, and knitted textile. As per end-use industry, it is categorized into military and defense, healthcare, sports and fitness, consumer electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global conductive textiles market are UBE Corporation, 3M, TORAY INDUSTRIES, INC., Kolon Industries, Inc., Saint Gobain, KANEKA CORPORATION, Shinmax Technology Ltd., DuPont, Shieldex, and Coatex Industries.