Global Smart Fabric Market - WishTree Insight

Global Smart Fabric Market by Type (Passive, Active, Smart), Function (Thermo-Electricity, Luminescence & Aesthetics, Sensing, Energy Harvesting), End-User (Military, Medical, Sports & Fitness, Fashion, Building & Construction, Automation) and Regions (Latin America, North America, Europe, Asia Pacific, and The Middle East & Africa) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Global Smart Fabric Market size was valued at USD 4.3 billion in 2021 and is expected to surpass USD 15.32 billion by 2031, expanding at a CAGR of 5.8 % during the forecast period, 2021–2031. The growth of the market is attributed to the advancement and implementation of technologies like the internet of things (IoT) and artificial intelligence (AI) in smart textiles.

INTRODUCTION

Smart fabric is a landmark in the global textile and garment industry. Smart fabrics are different from traditional fabrics it provides various functionalities. Smart fabrics are built with technologies that provide the wearer advance functionality.

Smart fabric market sights opportunities in various sectors like the pharmaceutical industry, medical, military, building construction automation sports & fitness, and others. Smart fabrics can be used in electrocardiograms, infant monitoring, and pressure sensing in wheelchairs and beds. These fabrics accumulate energy from the surroundings by extracting vibrations, heat & sound. It senses and reacts to environmental conditions. Smart fabrics have the ability to light up and change their color so it has wide application in the Fashion industry.

Market Trends, Drivers, Restraints, and Opportunities

• The smart textiles market has witnessed significant growth over the past years, owing to the advancement and implementation of technologies.
• Due to their expanding base of applications in end-user industries, the demand for smart fabrics has accelerated the market.
• High cost of production is predicted to hamper the market.

Scope of the Report

Market Segment Insights

Active Smart Fabric is expected to expand at a rapid pace

Based on Type, the Global Smart Fabric Market is divided into Passive, Active, and Smart. The Active segment is expected to expand at a rapid pace during the forecast period. Active smart fabric is embedded with electronic components such as actuators and sensors which can sense and react to the environment.

The sensing segment holds a large share in the market

Based on Function, the Global Smart Fabric Market is divided into Thermo-Electricity, Luminescence & Aesthetics, Sensing, and Energy Harvesting. The sensing segment is expected to hold a large share in the market as the ability of sense related to changes in environment, temperature, and feelings is a vital attribute of any smart fabric. It is used in various sectors like medicine, sports, and the military. However, the energy harvesting segment is anticipated to hold a key share of the market in the coming years.

Military smart fabric is anticipated to grow the market

Based on End-User, the Global Smart Fabric Market is divided into Military, Medical, Sports & Fitness, Fashion, Building & Construction, and Automation. The military smart fabric segment is anticipated to grow the market at a rapid pace during the forecast period. Smart fabrics in this segment provide different features such as ballistic protection, waterproof, bulletproof, health monitoring, motion trackers, GPS system, and advanced insulation properties.

North America is anticipated to propel the market

In terms of regions, the Global Smart Fabric Market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to propel the market during the projected period. The high demand for smart fabric for military, sports & fitness, and healthcare has propelled the market in the region. However, the market of the Asia Pacific is anticipated to expand at a rapid pace during the forecast period because of the availability of low-cost raw materials and labor.

Competitive Landscape

Key players competing in the Global Smart Fabric Market are Schoeller Textil AG; Dupont de Nemours & co; Nike Inc.; Oneill Wetsuits L.L.C.; Adidas AG; Gentherm inc.; Milliken & Company; Toray Industries.Inc.; Textronics

FAQs

What are the key strategies adopted by key companies in the smart fabric market?

The acquisition of textiles adopted by the key players to grow in the smart fabric market.

What is the estimated market growth during the forecast period?

The Global Smart Fabric market size was valued at USD 4.3 billion in 2021 and is expected to surpass USD 15.32 billion by 2031, expanding at a CAGR of 5.8 % during the forecast period, 2021–2031.

What are the key players in the market?

Schoeller Textil AG; Dupont de Nemours & co; Nike Inc.; Oneill Wetsuits L.L.C.; Adidas AG; Gentherm inc.; Milliken & Company; Toray Industries.Inc.; Textronics

Which segment constitutes a key share of the market?

The military segment is likely to constitute a key share of the market.

Which region accounted for a large market share?

North America region accounted for a large market share.