GIA announces the release of a comprehensive global report on Smart Fabrics and Interactive Textiles market. World Smart Fabrics and Interactive Textiles market is forecast to reach US$1.8 billion by the year 2015. Revival of economic growth, resurgence of consumer confidence, and product innovations will help put growth back on track. The future remains bright for smart fabrics and interactive textiles, especially products that incorporate new generation fibers, such as, nanofibers and other hybrid materials.
San Jose, CA (Vocus/PRWEB) February 08, 2011
The market for smart fabric and interactive textile technologies, although in embryonic stages, is poised for tremendous growth. Despite slow adoption rates in several markets, demand for SFIT technology is expected to escalate driven by emergence of advanced products and new application areas with significant potential. Years of refining technology innovation have helped smart fabrics progress steadily towards achieving successful commercialization in key end-use industries, such as, biomedical, and consumer electronics. The market witnessed substantial growth in the past largely because of the product’s interactive properties and unique features such as ballistic resistance, electrical conductivity and climate control. In the coming years, demand for smart fabric materials is likely to increase further driven by their capability to react to environmental stimuli. Biophysical monitoring solutions and phase change materials are expected to be major growth sectors. The level of seamless integration between electronics and fabrics will drive the adoption of electro-active smart fabrics in future applications.
The recession has inflicted a staggering blow to textile demand worldwide. Additionally, together with apparel, demand for home textiles, such as, curtains, tufted carpet backing, and wall covering, among others, also receded as depreciation in home/property values resulted in moderating investments in home improvement. As a result home décor and interiors took a hurting blow. With the level of economic activity slowing down, the recession has made a disproportionate impact on industrial production as a result of reduced manufacturing and commercial activity. This decline in manufacturing output, brought in reduced demand for industrial textiles like fabrics used in filters, and conveyor belts, among others. The final destabilizing blow, however, has been extended by the faltering automotive industry, which is the largest end-user of industrial textiles and which has been especially roughed up by the recession. Punishing falls in automotive production and sales resulted in plant closures, capacity idling, scaling back of operating capacity in the auto industry sending ripples of broad based declines across all of the upstream raw material markets including automotive textiles. With most end-use industries collapsing like a pack of cards, transportation fabrics, environmental fabrics, construction textiles, thermal insulation fabrics, machine clothing, packaging fabrics, medical fabrics, geotextiles, and protective fabrics, among others witnessed unprecedented weakening in demand patterns.
A part of the performance textiles sector, smart fabrics and interactive textiles has been ruffled by the upheaval in the textile industry. Passion for expensive, high-end, engineered textiles, such as, flame retardant furnishings and “breathable” leisurewear, among others witnessed significant cooling, as end-users focused solely on surviving the crisis, thus reducing temporarily the importance of these products. Smart fabrics and interactive textiles are garments, which incorporate sensors, electronics or any other technology into the fibers of the garment for added performance and functionality and are expensive relative to ordinary workwear or fashion apparel because, by necessity, it is more sophisticated in terms of technologies employed and materials used. The widespread reduction in purchasing power in both the consumer and industrial sectors as a result of high unemployment rates, and low consumer spending therefore negatively impacted the market.
However, with the recession currently at its tail end, optimism prevails over a quick recovery in market prospects. Technical textiles, especially, are up for a quick and rapid rebound largely because the business case of technical textiles extends far beyond the textile industry, since it wields an economic and strategic impact on industrial operations/development, unlike the traditional clothing and furnishing sectors. Developing countries with high levels of industrialization underway will therefore lead recovery in this sector. Development in nanotechnology, chemistry, and biochemistry will help further the potential of intelligent textiles. Defense, healthcare, followed by the consumer sector will emerge into important markets for intelligent textiles. Continued miniaturization of non-textile technologies especially from the field of information and communication technologies (ICT) and growing commoditization of computing systems will help enable easy integration of the same into textiles and clothing for superior functions and features. For instance, miniaturization of capacitive fabric sensors enables easy integration into substrate fabrics. In this regard, wearable computing technology is already rising in popularity.
Given the high-end futuristic, potential laden technology benefits of smart fabrics & interactive textiles, a sharp and quick recovery in R&D investments is forecasted, and the ensuing technological refinements in terms of improved efficiency and performance, as a result will help drive growth in the market. Investments, including venture capital funds, in smart textile technologies are also expected to increase in the upcoming years, as commoditization in the conventional textile industry begins to clog distribution networks and supply chains, and narrow profit margins forcing textile manufacturers to look for newer ways to beat competition. Revenues in the Biomedical end-use application market in United States are expected to surge at a CAGR of 47% during the next few years, as stated by the new market research report.
Major players in the marketplace include Du Pont, Exmovere Holdings, Peratech Limited, Foster-Miller, Intelligent Clothing, Interactive Wear AG, International Fashion Machines, Kimberly-Clark Health Care, Marktek Inc, Milliken & Company, Noble Biomaterials, Outlast Technologies Inc, Royal Philips Electronics, Schoeller Textiles, Smartex, Textronics, and Toray Industries, among others.
The research report titled “Smart Fabrics and Interactive Textiles: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, product profile, end-use analysis, product introductions, mergers, acquisitions, and other strategic industry activities. Market estimates and projections are presented for United States and Rest of World. The US market is further analyzed by end-use verticals, such as, Consumer Products, Military & Homeland Defense/Public Safety, Computing, Biomedical, Vehicle Safety and Comfort, and Others.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Smart_Fabrics_and_Interactive_Textiles_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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