The Wearable Materials Market Report has been segmented on the basis of product type, application, and region.
Wearable Materials Market: Overview
“The Wearable Materials Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Wearable materials are majorly used to make wearable devices owing to their properties such as flexibility, and lightweight nature.
Wearable materials have wide applications in the healthcare sector in order to monitor wide-ranging symptoms of the body with comfort and ease.
In addition, wearable materials are used to manufacture batteries, sensors, and other electronic components.
Wearable Materials Market: Dynamics
Increasing demand for wearable materials in consumer electronics with higher functionality owing to their lightweight nature and comfortability to individuals is a major factor expected to drive the growth of the global wearable materials market over the forecast period.
In addition, the growing popularity of the Internet of Things coupled with rising demand for smart technology devices, which in turn increase demand for wearable materials, is another factor expected to fuel the growth of the target market during the forecast period.
Moreover, increasing the adoption of wearable materials in the medical sector in order to monitor and detect different symptoms of the body, is among some factors expected to propel the growth of the potential market in the next coming years.
However, high manufacturing costs and lack of abiding and supple materials are among the factors which may hamper demand for wearable materials and restrain the growth of the target market during the forecast period.
Increasing adoption of wearable devices in various application areas is expected to create a lucrative opportunity for the growth of the potential market over the long run.
Wearable Materials Market: Segment Analysis
On the basis of product type, the silicones segment is expected to register the highest share in terms of revenue in the target market in the next coming years, owing to the material's biocompatibility and versatility.
Among applications, the consumer electronics segment is expected to register a significant growth rate in terms of revenue in the target market over the forecast period.
Wearable Materials Market: Regional Analysis
The Asia Pacific wearable materials market accounted for a major share in terms of revenue and is expected to dominate the target market over the forecast period.
Increasing demand for wearable materials in consumer electronics coupled with rising disposable income and spending power in countries in the region are some factors anticipated to fuel the growth of the Asia Pacific wearable materials market over the forecast period.
The market in the Asia Pacific is projected to witness the fastest growth rate in the target market in the next coming years, owing to increasing investments by governments for smart technology in countries which in turn increase demand for smart devices, supporting revenue growth of wearable materials in the region.
China is expected to hold a major share in terms of revenue in the Asia Pacific market over the forecast period whereas India and Japan are anticipated to account for a significant share over the long run.
The wearable materials market in North America is expected to register significant growth in terms of revenue in the target market over the forecast period, due to the presence of prominent manufacturers and growing medical applications in countries in the region.
Wearable Materials Market Segmentation:
Segmentation on the basis of Product Type:
Segmentation on the Basis of Application:
- Consumer Electronics
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BASF SE
- DowDuPont Inc.
- Wacker Chemie AG
- Koninklijke DSM N.V.
- Arkema S.A.
- Eastman Chemical Company
- Shin-Etsu Chemical Co., Ltd.
- Elkem ASA
- Momentive Performance Materials
- The Lubrizol Corporation
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