Wearable Materials Market to reach $2.9 billion by 2023 : Adoption of Wearables in Multiple Application Areas and Growing Popularity of Internet of Things are Major Drivers
The report "Wearable Materials Market by Application (Consumer Electronics, Medical, Industrial), Type (Silicones, Polyurethanes, Fluoroelastomers), Region (APAC, North America, Europe, South America,and Middle East & Africa) - Global Forecast to 2023" The wearable materials market size is projected to grow from USD 1.5 billion in 2018 to USD 2.9 billion by 2023, at a CAGR of 15.0% between 2018 and 2023. Increasing consumer preference for sophisticated gadgets, growing popularity of connected devices, and rising disposable income are driving the wearable materials market. Volatility in raw material prices and lack of durable, supple materials restrain the growth of the wearable materials market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209491780
"Consumer electronics is estimated to lead the overall wearable materials market in 2018"
Consumer electronics is the largest application for wearable materials. The market for wearable consumer electronics encompasses a number of wearable devices related to fitness & sports, entertainment & multimedia, and garments & fashion. Factors such as increasing consumer demand and rapid miniaturization of sensor technology have contributed to the growth of the wearable market, which in turn, has increased the demand for wearable materials.
"APAC is estimated to be the largest market for wearable materials in 2018"
APAC is the fastest-growing market for wearable materials. This region has huge growth potential for the wearables industry. Demand for wearables is increasing with innovations in the industry and expansion of manufacturing facilities. All these factors have accelerated the growth of the wearables materials market. China and Japan are the major markets for wearable materials in the region, owing to the growing demand for low-cost wearables and new in health and wellness. China is the leading manufacturer of wearable materials. The presence of a strong customer base and gradually maturing wearable technology are propelling the demand for wearable materials in the region. In October 2017, Arnitel developed by DSM was used by Zhongxing Telecommunication Equipment Corporation (ZTE) in the manufacture of their new smartwatch, ZTE Quartz. Arnitel was used in the manufacture of the soft strap of the smartwatch as increased safety, resistance to UV rays, and design flexibility. The development helped the company to cater to the increasing demand for wearable materials, globally.
Companies Profiled in the Report:
Key players profiled in this report include BASF (Germany), DowDuPont (US), Wacker Chemie (Germany), DSM (Netherlands), Arkema (France), Eastman Corporation (US), Shin-Etsu (Japan), Elkem (Norway), Momentive performance materials (US), and Lubrizol (US).
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209491780
With Wearables devices expected to join mainstream personal computing, it is projected that compact wearable devices would drive the demand for wearable materials. In addition, internet of things (IoT) technologies, which plays a major role in a wide range of healthcare applications, ranging from managing chronic diseases to preventing diseases, is expected to impact the wearable materials market.
"Consumer electronics is estimated to lead the overall wearable materials market in 2018"
Consumer electronics is the largest application for wearable materials. The market for wearable consumer electronics encompasses a number of wearable devices related to fitness & sports, entertainment & multimedia, and garments & fashion. Factors such as increasing consumer demand and rapid miniaturization of sensor technology have contributed to the growth of the wearable market, which in turn, has increased the demand for wearable materials.
 |
Wearable Materials Market |
APAC is the fastest-growing market for wearable materials. This region has huge growth potential for the wearables industry. Demand for wearables is increasing with innovations in the industry and expansion of manufacturing facilities. All these factors have accelerated the growth of the wearables materials market. China and Japan are the major markets for wearable materials in the region, owing to the growing demand for low-cost wearables and new in health and wellness. China is the leading manufacturer of wearable materials. The presence of a strong customer base and gradually maturing wearable technology are propelling the demand for wearable materials in the region. In October 2017, Arnitel developed by DSM was used by Zhongxing Telecommunication Equipment Corporation (ZTE) in the manufacture of their new smartwatch, ZTE Quartz. Arnitel was used in the manufacture of the soft strap of the smartwatch as increased safety, resistance to UV rays, and design flexibility. The development helped the company to cater to the increasing demand for wearable materials, globally.
Companies Profiled in the Report:
Key players profiled in this report include BASF (Germany), DowDuPont (US), Wacker Chemie (Germany), DSM (Netherlands), Arkema (France), Eastman Corporation (US), Shin-Etsu (Japan), Elkem (Norway), Momentive performance materials (US), and Lubrizol (US).
Comments
Post a Comment