DUBLIN, Jan. 22, 2019 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The wearable materials market is projected to register a CAGR of 15.0%, in terms of value, between 2018 and 2023.
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.
Wearable materials possess a set of mechanical properties such as strength, stiffness, and toughness. These biocompatible materials are resistant to a broad range of temperatures and chemicals. Different types of wearable materials, such as silicones, polyurethanes, and fluoroelastomers, are used to manufacture various wearable devices.
The increase in demand for smart wearables and the growing popularity of the Internet of Things (IoT) are fueling the growth of the wearable materials market. However, the lack of long-lasting and supple wearable materials is negatively affecting the market growth. Although high cost is associated with the manufacturing of wearable materials, the growing adoption of wearables in multiple application areas is expected to provide growth opportunities for the market players.
APAC is the largest wearable materials market, followed by North America and Europe, and is expected to grow rapidly during the forecast period, driven by the steady economic development in the region. In addition, the rapidly growing consumer electronics, industrial, and medical applications in developing countries, such as China and India, of APAC are having a positive influence on the wearable materials market.
The wearable materials market is dynamic and competitive owing to the presence of large and mid-sized players who have a strong foothold. The established market players have high cash reserves and invest heavily in R&D. In addition, the majority of wearable materials have already been trademarked by the major players in the industry. New players are however able to compete with the established players by developing newer forms of materials which are used in wearables.
Regional markets, especially APAC, have a number of local participants who are part of an unorganized sector. Market participants are continuously looking to obtain a competitive advantage over their rivals through product innovation. The number of end users of wearable materials is higher than manufacturers. This increases the intensity of competition amongst the market players. Moreover, these manufacturers also undertake various strategies to maintain their position in the market.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Wearable Materials Market
4.2 Wearable Materials Market, By Application
4.3 Wearable Materials Market, By Region
4.4 APAC Wearable Materials Market, By Application and Country
4.5 Wearable Materials Market, By Key Countries
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Increased Demand for Wearables With Higher Functionality
22.214.171.124 Growing Popularity of Internet of Things
126.96.36.199 Lack of Long-Lasting and Supple Materials
188.8.131.52 Adoption of Wearables in Multiple Application Areas
184.108.40.206 Increased Manufacturing Cost of Wearable Materials
5.3 Porter's Five Forces Analysis
6 Wearable Materials Market, By Type
6.2.1 Silicones are Biocompatible and Versatile Materials
6.3.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches
6.4.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products
7 Wearable Materials Market, By Application
7.2 Consumer Electronics
7.2.1 Fitness & Sports
220.127.116.11 Rising Health Consciousness Among Consumers to Increase the Demand in the Fitness & Sports Application
7.2.2 Infotainment & Multimedia
18.104.22.168 Increasing Use of Smartwatches to Drive the Market in the Infotainment & Multimedia Application
22.214.171.124 Wellness Trends Among Users of Wearables to Drive the Multifunction Application
7.2.4 Garments & Fashion
126.96.36.199 E-Textile to Support the Growth of the Market in the Garments & Fashion Application
188.8.131.52 New Variants of Wearable Sensors to Propel the Growth of the Clinical Application
184.108.40.206 Routine Care of Acute Diseases to Support the Nonclinical Application
7.4.1 Logistics, Packaging & Warehouses
220.127.116.11 Research and Prototyping of Wearables is Expected to Fuel the Growth of the Wearable Materials Market
8 Wearable Materials Market, By Region
9 Competitive Landscape
9.2 Market Ranking
9.3 Competitive Scenario
9.3.2 New Product Launch
10 Company Profiles
10.3 Wacker Chemie
10.6 Eastman Corporation
10.9 Momentive Performance Materials
10.11 Other Companies
10.11.1 Emerald Performance Materials
10.11.2 Daikin Chemicals
For more information about this report visit https://www.researchandmarkets.com/research/3d5pgb/global_wearable?w=5
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