Conductive Textile Market Set to Witness a Steady CAGR Value through 2019-2027

Posted by Arslan on March 9th, 2020

Worldwide sales of conductive textiles reached ~US$ 1,700 million in 2018, unveils the new research study by FactMR. According to the report, the conductive textile market is estimated to rise with a single digit CAGR, primarily influenced by the demand for smart conductive textile for a wide range of applications in various end-use industries. Usage of conductive textiles can revolutionize healthcare monitoring, treatment, and widespread use in the battlefield to monitor health and provide sustained treatment without the necessity of any heavily burdened healthcare services. Additionally, the growing aging population and rising instances of chronic diseases such as diabetes, heart disease, cancer, and respiratory disorders will create substantial demand for smart clothing or e-textiles, which is set to spur the growth of the conductive textile market.

According to the report, increasing focus on sustainable and cost-effective conductive textile materials is expected to contribute to the build-up of the conductive textile market throughout 2027. Furthermore, significant demand from military and defense, healthcare, sports, and fitness industries, along with additional functionality added by smart fabrics infused with electronic devices, will also continue to provide a fillip to the sales of conductive textiles in 2019 and beyond.

According to the report of Stockholm International Peace Research Institute, published in April 2019, the global military spending was estimated at around US$ 1822 billion, and geopolitical tensions are continuing to intensify the demand for advanced military equipment. Increasing military expenditure for advanced army suits will propel the conductive textile market growth during the forecast period. Furthermore, the global aerospace industry has experienced significant growth over the last few years, and the demand for lightweight conductive materials is projected to continue.

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FactMR’s study observed the adoption of conductive textile in place of copper wires, attributed to their lightweight, durable, and cost-effective features. The emerging need for lightweight and advanced aerospace suits will also propel the conductive materials market over the forecast period. The conductive textile market is expected to continue its growth over the forecast period, led by growing sectors of defense, aviation, aerospace, and the rising need for more advanced fabrics infused with electronic gadgets to provide more functions.