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Definition of Market/Industry:

Smart and interactive textiles are capable of actuating, sensing, storing or generating power, and communicating. These textiles are widely used across various applications such as industrial purpose, sportswear, automotive & entertainment, healthcare, and military. These textiles are also used in the fashion industry due to their ability to change color and light up the property.

Market Statistics:

The global smart and interactive textile market is expected to surpass US$ 6,455.0 Mn in terms of value by the end of 2028.

Drivers:

The growing demand for smart textiles from the transportation industry is propelling the market growth of smart and interactive textiles. The transportation industry is one of the emerging sectors as it encompasses different markets which include automotive, aerospace, and railroads. These fabrics are widely used across the automotive industry for designing a car and its accessories such as heating of the seat. Hence, the growing demand for smart textiles from transportation industry is augmenting the market growth of smart and interactive textiles.

Market Opportunities

Increasing application of the smart fabrics in wearable is projected to provide enormous market opportunities in the near future. This is also attributed to the technological advancement in the wireless and electronic segment. Increasing incorporation of Bluetooth Low Energy (BLE) technology that provides advanced features such as connectivity with mobile phones, headphones, and tracking devices. Thus, the growing demand for smart fabrics in wearable is expected to propel the market growth over the forecast timeframe.

Global Smart and Interactive Textile Market: Recent Developments

  • On 04 March 2021, Milliken & Company announced that Cindy Boiter has been promoted to executive vice president and president of Milliken’s Chemical Division. Effective March 15, she will step into the role currently held by David Moody as he transitions to a role outside of Milliken.
  • On 01 March 2021, Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of materials science expertise, has formally acquired Zebra-chem GmbH (“Zebra-chem”), a global chemicals company known for its peroxide and blowing agent masterbatches.
  • On 12 January 2021, Milliken & Company recognized more than 150 associates in its Milliken Honors awards celebration on January 12, held virtually this year to accommodate COVID-19 precautions. Across 18 categories, re-aligned to coordinate with the company’s values, the annual Milliken Honors program highlights the very best of Milliken.

Market Restraints

The high cost of smart fabrics as compared to conventional textiles is projected to hinder the market growth of the smart and interactive textiles. Raw materials used in the manufacturing of smart fabrics are different from the raw materials used in the manufacturing of conventional fabrics. Iron oxide, ceramics, metals, and silver nanocomposites are some of the key materials used in the development of smart fabrics.

Global Smart and Interactive Textile Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on smart and interactive textiles market.

Key Takeaways:

  • The global smart and interactive textile market was valued at US$ 3,007.8 Mn in 2020 and is forecast to reach a value of US$ 6,455.0 Mn by 2028 at a CAGR of 12.2% between 2021 and 2028.
  • The Military and defence segment was valued US$ 764.93 Mn in 2020 and is expected to witness a CAGR of 14.3% over the forecast period. Textile-based materials equipped with nanotechnology and electronics have a key role in the development of technologically advanced military uniforms and materials. Active and intelligent textiles, integrated with electronics, have the capacity of improving soldiers’ performance by sensing, adapting themselves to the preset state, and responding to a situational need allowing the fighting soldiers to continue their mission.

To know the latest trends and insights prevalent in the Global Smart and Interactive Textile Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/smart-and-interactive-textiles-market-4764

Market Trends

Increasing investment in the military and defense sector for improving the safety of the serving person is a growing trend in the market. Smart fabrics are rapidly gaining demand from the military sector due to their high-performance properties and safety. They are used to produce an army uniform and equipment. Moreover, the energy harvesting segment is also emerging as one of the largest segments for smart fabrics as they are used for improving the protection and safety of workers.

Increasing production capacity of the smart textile by key players for business expansion on global as well regional level is one of the major trends in the market. For instance, In April 2020, Milliken & Company, a manufacturer of textile, has increased domestic production of its BioSmart fabric, which integrates anti-microbial protection into medical products like scrubs, lab coats, and privacy curtains.

Competitive Section:

Company Names 

  1. E.I du Pont de Nemours and Company 
  2. Fibretronic Limited 
  3. Globe Manufacturing Company, LLC 
  4. Heapsylon LLC 
  5. Intelligent Clothing Ltd.
  6. Interactive Wear AG 
  7. Koninklijke Ten Cate nv 
  8. Milliken & Company 
  9. Outlast Technologies, Inc.
  10. Performance Fibers, Inc.
  11. Schoeller Textil AG
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