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With robust growth and flourishing applications across major industries such as automotive,aerospace & others,the Conductive Textiles Market is growing rapidly
HYDERABAD, TELANGANA, INDIA, January 2, 2023 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that The Conductive Textiles Market size is estimated to reach US$5.2 billion by 2027 after growing at a CAGR of 16.1{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} during the forecast period 2022-2027. A conductive textile is a type of fabric that can conduct electricity. Conductive textiles are made from a variety of fabrics, including cotton, nylon and polyester. Conductive fabrics are known for providing both softness and electrical properties. Major factors expected to drive the growth of the conductive textiles market during the forecast period include increased awareness of the benefits of conductive textiles and increased demand from the military and defense sectors. Moreover, the expansion of the smart fabrics market is expected to fuel the growth of the conductive textiles market size. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways:
This IndustryARC report on the Conductive Textiles Market highlights the following areas –
1. Asia-Pacific dominates the Conductive Textiles market size, the increase in demand from end-user sectors, such as electronics, aerospace and medical equipment, is the main factor driving the region’s growth.
2. The conductive textiles market is expected to expand during the forecast period due to lower maintenance costs and rising demand from the defense & military and healthcare sectors.
3. The increased use of such products for health monitoring in the medical industry is expected to bode well for industry growth.
4. The high manufacturing cost of conductive textiles due to extensive research & development activities is expected to hinder overall industry growth.
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Segmental Analysis:
1. Polyester held a significant share in the Conductive Textiles market share in 2021 and is projected to grow at a CAGR of 15.9{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} during the forecast period 2022-2027, owing to increasing demand from various end-use industries and extensive characteristics provided by polyester over other fabrics such as nylon, cotton and wool. Polyester fabric is popular because it is sturdy, resistant to most chemicals and shrinks less than cotton. As a result, it is used as a raw material to create conductive wearables like jackets and sportswear, which are predicted to drive growth.
2. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), automotive production and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019. In November 2020, Boeing forecasted that China’s airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years.
3. Automotive held a significant share in the Conductive Textiles market share in 2021 and is expected to grow at a CAGR of 16.5{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} during the forecast period 2022-2027, owing to extensive demand from the automotive sector. Conductive textiles like smart fabrics are quickly gaining traction in modern vehicle engineering. They are widely used in interior ceilings, interior door panels, seat belt webbings, gear shift covers and steering wheels, which drive the conductive textile market in the automotive industry.
Competitive Landscape:
The top 5 players in the Conductive Textiles Industry are –
1. AiQ Smart Clothing
2. Arville
3. Bekaert
4. Coatex Industries
5. Hitek Electronic Materials Ltd.
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