PERFORMANCE FABRIC MARKET Challenges and Opportunities

One of the major challenges faced by participants operating in the market is the high costs associated with research and development. Developing new performance fabrics that can offer enhanced functionalities, such as moisture wicking, anti-microbial properties, UV resistance, etc., requires extensive research and testing. Participants have to invest huge capital in setting up R&D facilities with advanced laboratories and hiring talented workforce including engineers and scientists. The R&D process is also time consuming involving several stages of material development, testing, analysis, and commercialization which increases the overall costs.

Market Opportunity - Growth in smart textiles and wearable technology

One of the key opportunities for players in the market is the rising demand for smart textiles and fabrics catering to wearable technology. The convergence of clothing and digital technology has opened new growth avenues. Several sports and fashion brands such as Nike and Adidas are innovating performance fabrics integrated with sensors, batteries and electronic components. The demand for smart textiles is witnessing growth from its usage in wearable devices, healthcare, and military. Fitness trackers, smart watches, and other wearables are driving volume uptake of performance fabrics that can sustain harsh environments while being lightweight and comfortable.