Wearable Material Market Scope
Wearable material is used in manufacturing of various types of wearable devices produced in different sectors like medical, consumer electronics and industrial. Growing demand for wearable electronics in emerging countries is leading to the increasing consumption of wearable materials. The factors such as increasing demand for low-cost wearables and rising disposable income, drives the growth of wearable material market. On the flipside, volatility in raw material prices and lack of durable, supple materials restrain the growth of the Wearable Materials Market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF (Germany), DowDuPont (United States), Wacker Chemie (Germany), DSM (Netherlands), Arkema (France), Eastman Corporation (United States), Shin-Etsu (Japan), Elkem (Norway), Momentive performance materials (United States) and Lubrizol (United States) |
CAGR | % |
Key companies have adopted various organic as well as inorganic growth strategies to strengthen their position in the market. New product launch was among the key growth strategies adopted by leading players to enhance their regional presence and meet the growing demand for wearable electronics in emerging economies. Research Analyst at AMA estimates that United States and European Vendors will contribute to the maximum growth of Global Wearable Material market throughout the predicted period.
BASF (Germany), DowDuPont (United States), Wacker Chemie (Germany), DSM (Netherlands), Arkema (France), Eastman Corporation (United States), Shin-Etsu (Japan), Elkem (Norway), Momentive performance materials (United States) and Lubrizol (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Emerald Performance Materials (United States), Daikin Chemicals (Japan), Solvay (Belgium), 3M (United States) and Covestro (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Wearable Material market by Type , by Application (Consumer Electronics, Medical and Industrial) and Region with country level break-up.
On the basis of geography, the market of Wearable Material has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In February 2023, Eastman Chemical Company (NYSE: EMN) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
In September 2023, Huawei today held its landmark "Wearable Strategy and New Product Launch" event in Barcelona, unveiling their next step into the wearables industry with its "Fashion Forward" proposition, taking integration between technology and fashion to the next level.
Influencing Trend:
Availability of innovative wearable consumers electronic products and Growing trend for smart watches
Market Growth Drivers:
Increasing demand for high functionality wearable devices and Growing popularity of connected devices
Challenges:
ensuring accurate and reliable data collection.
Restraints:
High manufacturing cost and Variations in the prices of raw material
Opportunities:
Increasing demand for internet of things and Rising disposable income
Key Target Audience
Manufacturer, Raw material supplier, Distributors/Traders/Wholesalers, Industry Association, Downstream Vendors, Governments and investment communities and Research organizations and associations