The market size for wearable materials is estimated at USD 1.5 billion in 2018 and is projected to reach USD 2.9 billion by 2023, at a CAGR of 15.0% between 2018 and 2023. Increasing demand for low-cost wearables, rise in chronic health conditions, and increasing disposable income is expected to drive the demand for wearable materials during the forecast period.
With wearable 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.
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The industrial sector is the fastest-growing application of wearable materials. Industrial wearable devices include compact, mobile, and wireless computing systems that can be worn on the body. They also include various image scanners that find applications in industrial processes. As wearables have become more inexpensive, there has been a spurt in research and prototyping of these wearables, which is expected to drive the wearable material market in the industrial segment.
Consumer electronics is the largest application for wearable materials. Consumer wearable electronics encompass 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.
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The key players in the wearable materials market 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). The wearable materials market report analyzes the key growth strategies adopted by leading market players such as expansion, new product launch, and acquisition between 2015 and 2018.
DSM is among the key players in the wearable materials market. It has adopted organic strategies such as new product launch to increase its share in the wearable materials market. The company is involved in the manufacture of nutritional and health products. The company operates through four business segments-nutrition, materials, innovation center, and corporate activities. The company offers Arnitel through its materials business segment. The materials business segment also manufactures engineering plastics. The company has its operations in 98 countries in Asia, Africa, the Americas, and Europe. 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 offers increased safety, resistance to UV rays, and design flexibility.
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BASF is one of the major chemical companies. It functions through six business segments, chemicals, performance products, functional materials solutions, agricultural solutions, oil & gas, and others. BASF operates globally through its subsidiaries in 80 countries with six verbund sites and approximately 376 production sites. It chiefly operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East countries. In November 2016, the thermoplastic polyurethane brand, Elastollan, developed by BASF was incorporated in Paiband, a wearable device manufactured by Putao Technology. Ellastolan offers properties such as design flexibility, haptic optimization, and UV resistance.
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The Wearable Materials market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the wearable materials market include Arkema, Athersys, BASF, DowDuPont, DSM, Eastman Corporation, Elkem, Lubrizol, Momentive performance materials, Shin-Etsu., and Wacker Chemie.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Wearable Materials Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/wearable-materials-market/download-sampleMarket DynamicsThe increasing demand for wearable devices with enhanced functionality is driving market growth.
Additionally, increasing disposable income in emerging economies pushing individuals towards wearables is further accelerating market growth.
Whereas, the adoption of wearables in multiple application areas is anticipated to augment demand over the forecast period .The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
The Wearable Materials Market Research Report consists of all the essential information in regards to the global market.
This report presents an in-depth analysis of various industry factors, such as the market trends, dynamics, production, estimates, industry development drivers, size, share, investigation, supply, forecast trends, sales, industry demand, as well as several other factors.
The report has been generated leveraging a target amalgamation of the primary and secondary data including commitments from key participants in the market.
Thus, the Global Wearable Materials Market Research Report is a basic hold of all the data generated by qualitative and quantitative analysis of the industry, essentially for the industry pioneers.Wearable Materials Market Prominent Players:BASF, DSM, Eastman Chemical Company, Elkem, Covestro AG, Wacker Chemie, Arkema, Momentive Performance Materials, DAIKIN INDUSTRIES, Ltd., The Lubrizol Corporation, Shin-Etsu Chemical Co., Ltd., and Solvay, Sekisui Chemical Co Ltd. among othersGet a Sample Copy of Report @ https://www.alltheresearch.com/sample-request/182Wearable Materials Market Segmentations:Wearable Materials Market By Material TypeSiliconesFluoroelastomersPolyurethanesOthersWearable Materials Market By ApplicationConsumer ElectronicsHealthcareIndustrialOthersOn the basis of the geographical analysis, the market research report has been segmented into some of the major regions, with production, generation, utilization, revenue, market share and the development rate of the market in these regions during the forecast period, covering:North America (US and Canada)Europe (UK, Germany, France and Rest of Europe)Asia Pacific (China, Japan, India and Rest of Asia Pacific)Latin America (Brazil, Mexico and Rest of Latin America)Middle East & Africa (GCC and Rest of Middle East & Africa)Get Report UPTO 30% Discount @ https://www.alltheresearch.com/customization/182The Wearable Materials Market Research Report consists of the following points:An overall outlook of the market that helps in picking up the essential data about the Wearable MaterialsThe market has been segmented on the basis of the product types, applications, end-users, as well as the industry verticals, in light of numerous factors.
For better understanding and an in-depth analysis of the market, the key segments have further been partitioned into sub-segments.In the next portion, factors responsible for the growth of the Wearable Materials market have been included.
This information has been collected from the primary and secondary sources and has been approved by the industry specialists.
The global wearable materials market is forecast to reach USD 4.52 Billion by 2026, according to a new report by Reports and Data.
These materials are unique materials that are used in the medical, and aviation industry for various purposes such as for making batteries, sensors, and many other electronic components.The market for such materials is influenced by the rising industries due to urbanization.
The wearable technology has specific characteristics such as adhesion, permeability, transparency, and peel strength which are helping in the market growth of this material.
The lack of durable supply materials are acting as a market restraint.Request Free Sample: https://www.reportsanddata.com/sample-enquiry-form/2143The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of manufacturing these products add limitations in the market.
Consistent developments in the market of materials used for industrial purposes owing to innovative efforts have improved the efficiency of wearable products.In the Asia Pacific region due to the sudden rise in population and rapid urbanization, the market for such technologically advanced wearable materials are propelling at a swift rate.
The rising economy in counties like China and Japan due to favorable political, social, and economic conditions are helping the market to grow.
In the world of technology, smartphones, tablets, wearable watches are the big things in the consumer technology industry.
If we add more to the buzz of wearable technology is the anticipation that the wearable market is predicted to grow up to $18.9 billion in revenues by 2020.
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