According to Stratistics MRC, the Global Conductive Textiles Market is accounted for $1.07 billion in 2017 and is expected to reach $4.65 billion by 2026 growing at a CAGR of 17.7% during the forecast period.
Factors such as growing awareness of the advantages of conductive textiles, high demand from the military and defense sector and increased health awareness among consumers are fuelling the market growth. However, high cost of finished products can affect adoption is hampering the market.
A conductive textile can be defined as a fabric which is made from the strands of metal that are woven, blended, or coated during the creation of the textile.
Conductive metals such as silver, titanium, gold, nickel, and carbon are utilized by the textile. Conductive textiles inhabit the property that it can conduct electricity and thus is used in several applications by different end-use industries.
The primary function of the conductive textile is controlling the static electricity and protecting from the electromagnetic interference.
Based on type, the woven textile segment has significant growth during the forecast period. Woven textiles are widely utilized by various end-use industries such as military & defense, healthcare, and sports & fitness.
As these textiles offer high standard performance in shielding and conductivity, they are considered to be the preferred type of conductive textiles utilized across the globe, thereby boosting the growth of the woven textile segment.
By Geography, The conductive textile market in the Asia Pacific is expected to grow at the significant market share during the forecast period. Factors such as the increasing urbanized population in China and India and the increasing awareness about the benefits and functionality of conductive textiles in these countries are expected to fuel the growth of conductive textiles market in the region.
Some of the key players in global conductive textiles market are Hitek Electronic Materials Ltd., 3M Company, Seiren Co. Ltd., Holland Shielding System, Toray Industries Inc., Emei Group, HFC Shielding, Sheildex Trading, Inc., Parker Chomerics, AiQ Smart Clothing, Bekaert, Swift Textile Metalizing LLC, Laird PLC, MarKTek Inc., Jarden Applied Materials and Coatex Industries.