It is projected that the global conductive textiles market will reach at US$ 2.11 billion by 2021 at a CAGR of 15.6% (The Compound Annual Growth Rate) whereas it was only US$ 1.02 billion in 2016. The key users of conductive textiles are the military and the workers of defense sector. However, it is estimated that the popularity is low because of its high cost of finished products controlling the growth of the global conductive textiles market significantly.
A conductive textile is a fabric, which can conduct electricity and it can be made with metal strands woven into the construction of the textile. There is also an interest in semiconducting textiles, made by impregnating normal textiles with carbon- or metal-based powders. Conductive textile has played a vital role in this fast growing market since 2015 because of its various end-use industries, such as fitness, sports, healthcare, medical science, military and defense.
The military & defense segment is the largest user of conductive textiles all around the world. Functional textile-based materials equipped with nanotechnology and electronics play major role in the development of technologically advanced military uniforms and other handy products. The conductive textiles demand is increasing day by day because a soldier requires protection against extreme weather conditions, like heat, cold, wind, and rain; ballistic impact
and nuclear, biological or chemical threats. Additionally, these textiles also find applications in parachutes, safety harnesses, ropes and tenting.
Europe is anticipated to lead the global conductive textiles market around the world. The growth of European conductive textiles market is mainly driven by technological advancements in wearable technologies. The conductive textiles market in the Asia-Pacific region is expected to grow at the highest CAGR from 2016 to 2021. This growth is primarily attributed to the high demand for conductive textiles from the sports and fitness and healthcare sectors in the Asia-Pacific region.
Bangladesh is the second largest textile and apparel exporter all over the world after China, however, recently Bangladesh is facing several problems and losing its competitiveness in global market and industry experts are urging to develop value added product to survive. So Bangladesh can be a major conductive textile manufacturer, a value added product, focusing on nanotechnology development. Already Bangladesh has been producing functional jacket for sports brands like Decathlon, Nike, Puma, Adidas, luanvi etc. but for military and defense division, production is not begun yet.