The industry suppliers are developing more skin-sensitive processes and material
Posted by rohan on January 9th, 2020
The innovation of technology has encouraged investments in the Wearable Materials market in the past year. This has a serious effect on the growth of the evolution of wearable materials. The market for wearable materials is on a storming 15% CAGR globally, making it a profitable industry to invest.The Global Wearable Materials market size was around .5 billion by the end of 2018. It is expected to grow at CAGR of 15% to reach .02 billion by 2023.Dow Corning is focusing more on silicone adhesives for both wound dressings and wearable monitoring devices. The company launched a new set of four silicone pressure-sensitive
Market Drivers and Restraints:
Technology on a broad scale is a major driver to this market. Improvement in technology leads to newer and innovative methods to manufacture the wearable’s mainly the consumer electronics.The large investments in the R&D for medical wearable is also a driving factor which is the reason for the market’s high CAGR.Although, there are also some restraints to the market like environmental damage by the material used for wound dressing. The single use materials which are thrown away causes serious damage to the environment.Also, high price of the electronic wearable may decelerate the growth of the market in low GDP countries.
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Report segmented as
By geography the Global Wearable Materials market is segmented as Latin America, Europe, Asia Pacific, Middle-East & Africa, and North America. Asia Pacific had the highest percentage of the Global Wearable Materials market share in 2018, owing to its high customer demand for electronic wearable and medical requirements. It is expected to be the fastest-growing market, attributed to its high CAGR and increasing industrialization of healthcare and electronics sector and a wide customer base in the regions like India and China.North America had the second highest Wearable Materials market share in 2018, and has a moderately growing market when compared to Asia Pacific region.
Important Market Players:
By the end of 2018 companies like BASF, DowDuPont, Wacker Chemie, DSM, Arkema, Eastman Corporation, Shin-Etsu., Elkem, Momentive performance materials, Lubrizol, Analog Devices, Broadcom Corporation, Freescale Semiconductor Inc., Infineon Technologies AG, InvenSenseInc.,Panasonic Corporation and NXP Semiconductors N.V. are the leading shareholders of the Global Wearable Materials Market among other key players.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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