SMART AND INTERACTIVE TEXTILES MARKET ANALYSIS
Global smart and interactive textiles market was valued at US$ 3242.4 Million in 2021, in terms of revenue, exhibiting a CAGR of 12.15 % during the forecast period (2022 to 2030).
Market Trends
The establishment of a new facility by key manufacturers for meeting the rising demand for smart fabrics around the globe is one of the current trends. For instance, in February 2021, DuPont, a producer of chemicals and science-based products, acquired Tex Tech’s Core Matrix Technology, a monolithic fabric structure that can significantly reduce back face trauma, while increasing ballistic and fragmentation performance for military and law enforcement personnel. This acquisition will add to the company’s already robust portfolio of life protection solutions, enabling the most flexible, lightweight ballistic solutions to meet new standards of National Institute of Justice (NIJ) for enhanced durability.
Increasing demand for smart fabrics as leisurewear is expected to be one of the trends in the market. This is also attributed to the growing disposable income of consumer which is encouraging them to spend on leisure products. Also, changing lifestyles of consumers coupled with the growth in the urban population around the globe due to the gradual shift from rural to urban areas is further projected to propel the market growth
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