Wearable Materials Market Growth Analysis | 2023-2028

Market Insights

The wearable materials market was estimated at USD 2.4 billion in 2022 and is likely to grow at a CAGR of 14.02% during 2023-2028 to reach USD 5.28 billion in 2028.

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What are wearable materials?

Wearable materials are fabrics, textiles, and other substances designed to be incorporated into wearable technology, such as smart clothing, accessories, and fitness trackers. These materials are engineered to be lightweight, flexible, and durable, allowing them to seamlessly integrate with the human body while providing comfort and functionality. They often feature properties such as stretchability, moisture-wicking, and breathability to enhance user experience.

Segments Analysis

By Material Type

The wearable materials market is segmented into silicones, polyurethanes, and fluoroelastomers. Silicone is expected to remain the largest and fastest-growing type in the wearable material market during the forecast period. Silicone is regarded as biocompatible and has a wide range of skincare uses, including peel-and-stick technology for wearable skin applications and biomedical-grade silicones for wearable medical devices. They are also significantly more permeable than any other organic polymer, which results in greater patient comfort. These fabrics provide more comfort and a better fit by molding well to the body's contours.

By Application Type

The market is segmented into consumer electronics, medical, and industrial. The consumer electronics segment is expected to remain the dominant as well as the fastest-growing material type in the market during the forecast period. The rising popularity of fitness and wellness trackers is driving this market's growth. The industrial application segment of the market is anticipated to develop at the fastest rate during the forecast period.

Regional Insights

Asia-Pacific is expected to remain the largest wearable materials market during the forecast period. The market for wearable materials is primarily driven by the growing demand for fitness-tracking wearable devices and the rising popularity of the Internet of Things (IoT).

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The wearable materials market is segmented into the following categories.

By Material Type

• Silicones
• Polyurethane
• Fluoroelastomers

By Application Type

• Consumer Electronics
• Medical
• Industrial

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Key Players

The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the wearable materials market. Most of the major players providing wearable materials are:

• Arkema
• BASF
• Daikin Industries Ltd.
• DowDuPont 
• DSM
• Eastman Corporation
• Lubrizol
• Momentive performance materials
• Shin-Etsu
• Wacker Chemie

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s wearable materials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.