Wearable Materials Market worth $5.1 Billion by 2027 at a growth rate of 14.5 % - IndustryARC

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The demand for electronic products is increasing globally with increasing production and electronic items expected the Wearable Materials Market growth

HYDERABAD, TELANGANA, INDIA, January 19, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Wearable materials are extensively utilized in multiple electronic devices such as smartwatches, activity trackers, earbuds, and headsets. The Wearable Materials Market size is forecast to reach US$5.1 billion by 2027 after growing at a CAGR of 14.5% during the forecast period 2022-2027.electronic products is increasing globally with increasing production and sales of electronic items, The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Wearable-Materials-Market-Research-510233

Key takeaways:


This IndustryARC report on the Wearable Materials Market highlights the following areas -

1. The silicone material dominated the wearable materials market in 2021. This type of material provides greater comfort and adapts well to the body contours, making it a suitable option in the market.

2. The medical device application is projected to drive the market’s growth during the forecast period. According to the October 2021 stats by trade.gov, the healthcare sector in Italy will receive an investment of US$1.60 billion in 280 hospitals.

3. The Asia-Pacific region is expected to witness the highest demand for wearable materials owing to the increasing demand for electronic products in the region. For instance, according to the Global Electric Market Outlook 2022 report by the German Electro and Digital Industry Association, China exhibited decent growth in the electric sector despite the pandemic.For More Details on This Report - Request for Sample.

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Segmental Analysis:

1. The silicone segment accounted for approximately 21% of the market share in 2021 and is estimated to grow at a high CAGR during the forecast period. This type of wearable material possesses superior breathable properties, durability, permeability, biocompatibility properties, and offers better adhesion.Moreover, silicones are skin-friendly and allow modification according to requirements, making them the go-to option in the market.

2. The Asia-Pacific region held the largest share in the wearable materials market in 2021, up to 38%. The high demand for wearable materials is attributed to the expanding electronic sector in the region. A wide range of wearable materials such as fluoroelastomers, silicones, and polyurethanes are utilized in large quantities for the manufacturing of several electronic products in the region.

3. The electronic devices application dominated the wearable materials market in 2021 and is expected to grow at a CAGR of 15.9% during the forecast period. A wide variety of wearable materials such as fluoroelastomers, silicones, and polyurethanes find their extensive use in the manufacturing of several medical devices.

Competitive Landscape:

The top 5 players in the Wearable Materials Industry are -

1. BASF SE
2. Shin-Etsu
3. Wacker Chemie
4. Covestro
5. DSM


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Related Reports:

A. Wearable Fitness Technology Market
https://www.industryarc.com/Report/15471/wearable-fitness-technology-market.html

B. Wearable Medical Devices Market
https://www.industryarc.com/Report/205/Wearable-medical-devices-Market-Analysis-Report.html

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