The demand within the global market for conductive textiles has been rising on account of the popularity of heating elements across range of industries, finds Transparency Market Research (TMR). Conductive textiles are capable of conducting electricity, and are woven via metal strands. The market vendors in the global conductive textiles market focus on manufacturing high-quality textiles that exhibit commendable electrical conductivity. The vendors have realised that their success lies in producing high-quality materials that can benefit the end-users. Henceforth, the key players in the global conductive textiles market are expected to invest in improving their manufacturing standards. These vendors could also invest in research and development of improved conductive materials to manufacture better textiles.
The global conductive textiles market is highly fragmented due to the presence of a humongous number of players without an outright dominance of any. However, the marker share of some of the key players in the global conductive textiles market is expected to expand in the years to come. Furthermore, formation of strategic alliances and establishment of collective entities could bring down the level of fragmentation in the global conductive textiles market. The small and insignificant vendors in the global conductive textiles market are expected to be acquired by the larger manufacturers in the years to come.
Transparency Market Research (TMR) finds that the global conductive textiles market would expand at a stellar CAGR over the period between 2017 to 2022. The global market for conductive textiles is expected to accumulate revenues worth US$2.1 bn by 2022, rising up from a value of US$1.7 bn in 2017. On the basis of fabric type, the global demand for nylon and cotton has been on a rise. Based on geography, the market for conductive textiles in North America shall expand at a robust rate in the years to come.
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Use of Conductive Textiles in Military and Defense Sector to Aid Market Growth
The military and defense sector has emerged as a key consumer of conductive textiles in recent times. The voluminous amounts of investments made in the defense sector have trickled down to the global conductive textiles market as well. Hence, the global market for conductive textiles is projected to earn a humongous opportunity over the forecast period. Furthermore, the electronics industry has also emerged as a sound consumer of conductive textiles in recent times. This factor, coupled with the use of these textiles for manufacturing fitness apparel, has aided the growth of the global conductive textiles market.
Popularity of Nylon to Propel Demand for Conductive Textiles
The global market for conductive textiles has been expanding at a stellar pace over the past decade. Advancements in the healthcare industry have played a crucial role in the growth of the global conductive textiles market. Moreover, popularity of nylon while manufacturing conductive textiles has also surfaced as a key trend in the global market. Besides this, easy availability of polyester and cotton is amongst other drivers of demand within the global conductive textiles market. Therefore, the cumulative revenues within the global conductive textiles market are expected to reach unprecedented heights in the years to come.