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Wearable Materials Market Trends

Report ID: GMI8894
Published Date: Apr 2024
Report Format: PDF

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Wearable Materials Market Trends

The wearable materials sector is witnessing notable trends. The demand for materials that offer flexibility, lightness, and durability is driving innovation. The integration of advanced sensors and electronics into textiles is giving rise to intelligent fabrics serving fashion, fitness, and healthcare sectors. Sustainability is gaining traction, evident in the shift towards eco-friendly and biodegradable materials. Collaborations among material experts, electronics firms, and fashion designers are driving the development of fashionable and functional wearables. Anticipated expansion in 5G coverage is poised to elevate the capabilities and adoption of wearable technology, influencing future market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Wearable materials industry size was valued at USD 2.95 billion in 2023 and will record a 14.2% CAGR between 2024 and 2032, attributed to rising trend of fitness and health monitoring coupled with the increasing adoption of wearable devices and advancements in material science.

The fitness trackers segment secured 40.7% market share in 2023 and will record 42% by 2032, owing to the increasing health consciousness among consumers and the growing trend of monitoring fitness and wellness metrics.

Asia Pacific industry registered USD 0.9 billion in 2023 and will hold a market size of USD 3.1 million by 2032, primarily due to the region's booming consumer electronics industry, rapid technological advancements, and increasing adoption of wearable devices.

Major companies, including Arkema S.A., BASF SE, DSM, Dow DuPont, Eastman Corporation, Elkem, Lubrizol, Koninklijke, Momentive Performance Materials, Solvay, Shin-Etsu, and Wacker Chemie AG are operating in the wearable materials market.