Wearable Materials Market by Type (Silicones, Polyurethanes and Fluoroelastomers), By Application (Consumer Electronics, Medical, Industrial, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis and Forecast till 2034

Report Code: PMI114119 | Publish Date: July 2023 | No. of Pages: 187

Global Wearable Materials Market By Overview

Wearable Materials Market Size was valued at US$ 3.3 billion in 2024 and is projected to grow at a CAGR of 14.9%to reach US$ 11.7 billion by 2034.

Wearable Materials Market textiles are specially created and built to fit comfortably on the body are referred to as wearable materials. The selection of these materials is based on their capacity to offer convenience and practicality across a range of wearable applications, including electronic gadgets, clothes, and accessories. They frequently have attributes like stretchability, water resistance, durability, breathability, and moisture-wicking qualities. Occasionally, they even have more sophisticated features like stretchability and antibacterial qualities. Cotton, polyester, nylon, spandex, leather, silicone, conductive textiles, and a variety of advanced textiles with interactive or smart characteristics are a few examples of materials that can be worn. In a variety of industries, including technology, sports, fashion, and healthcare, wearable materials are essential to improving wearable product performance and user experience.

The wearable technology industry is thriving, and behind every elegant wristwatch or fitness tracker lurks a hidden hero: the wearable materials market. This active business is dedicated to creating and delivering the specialized materials that make these gadgets pleasant, useful, and effective.
Consider a smart watch strap that feels like an extension of your skin, or fitness trackers that merge effortlessly with your apparel. These are just a few instances of how novel wearable materials are influencing the future of wearable technology.

The continuous wearable technology revolution is greatly aided by the wearable materials business. This business sets the stage for a time when wearable technology will be effortlessly integrated into daily life, enabling communication, health monitoring, and even industrial uses. It does this by producing creative and useful materials.

Global Wearable Materials Market By Dynamics

Wearable Materials Market Drivers:   

Technological Innovation:

  • Advances in materials science, nanotechnology, and flexible electronics are driving the development of wearable materials. These advancements lead to materials that are lighter, more durable, and more comfortable—ideal for wearable technology.
  • Wearable technology that may be utilized for wellness management, fitness tracking, and health parameter monitoring is becoming more and more popular as consumers become more conscious of their health and fitness. Wearable materials considerably improve the comfort and use of these devices.

 Fashion and Lifestyle:

  • Wearables are becoming standard lifestyle goods, moving beyond fitness and health due to the convergence of technology and design. The demand for wearable technology that is compatible with consumers' daily routines is driving the market for cozy and stylish materials.

Regulatory Support:

  • Standards and regulations promote the use of wearable medical devices by ensuring their efficacy, security, and compatibility. Regulatory assistance incentivizes investment in wearable materials research and development to ensure compliance.

Restrains in the Wearable Materials Market:

High Cost: 

  • Wearable materials can be expensive, particularly if they have sophisticated features like biocompatibility, elasticity, and durability. This may restrict their uptake, especially in consumer groups where cost is a concern.

Limited Battery Life: 

  • Since many wearable gadgets run on batteries, their limited battery life can be a major drawback. The wearable’s practicality and usability are limited by consumers’ frequent frustration with the inconvenience of having to replace or recharge their batteries.

The market's expansion may be hampered by changes in the price of raw materials:

  • Petroleum-based raw materials including polyethylene terephthalate and polyurethane are used in the market. The market's potential expansion may be hampered by the fact that the prices of these commodities fluctuate in tandem with the price of petroleum. According to statistics provided by ourworldindata.org, the price of a barrel of crude oil was US$54.19 in 2017 and US$64.21 in 2019. In 2020, the price of oil dropped once again, to US$41.84 per barrel. The price of raw materials fluctuated as a result of these changes in oil prices, which also caused volatility in petroleum prices. Throughout the course of the projected year, the market's growth may be impacted by this volatility in raw material costs.

Key Opportunities in Wearable Materials Market:

  • There are a lot of chances in the wearable technology market due to technological improvements. New opportunities for growth are created by innovations including longer-lasting batteries, better connection features, and more advanced sensors that can provide deeper insights into health parameters.
  •  For instance, the accuracy and customisation of health-tracking features are improved by the integration of AI and machine learning, increasing user appeal.
  • Furthermore, non-invasive monitoring technologies that can measure blood sugar levels or identify irregularities in the heart without the need for medical intervention have the potential to completely transform the healthcare sector.
  • The potential for wearable to become seamlessly integrated into daily life while providing significant health and lifestyle benefits keeps growing as technology advances, opening up profitable opportunities for industry.

Global Wearable Materials Market By Segmentation

Wearable Materials Market is segmented based on based on by Type, by Application and Region.

By Type

  • Silicones - Increasing demand for silicone across a range of end-use sectors, such as consumer items, construction, industrial operations, and personal care. It is anticipated that ongoing technical advancements and constant product innovation would encourage silicone use in emerging economies. Because silicone is weather resistant, extremely stable, inert, and highly water repellent, it is utilized extensively in the construction sector. In both residential and commercial structures, it is used with a variety of materials, including marble, glass, concrete, aluminium, steel, and plastics. They are also utilized in the building of industrial buildings, pipelines, highways, bridges, and oil rigs. Globally, there is an increasing need for infrastructure development and construction due to factors including population expansion, urbanization, and rapid industrialization.
  • Polyurethanes - Polyurethane consumption is predicted to rise during the projection period due to growing building insulation demand brought on by sustainability concerns. The field of sustainability in building developments is broad and includes a number of measures that need to be taken during the initial stages of construction because of the potential for major environmental effect. Prices for polyurethane are heavily impacted by variables like labour and shipping expenses, changes in exchange rates, and trade-related levies because of the Middle East's ongoing unrest and depletion of crude oil reserves. Additionally, the growth potential has been expanded by rising end-user industry demand, technological developments, and regulatory assistance.
  • Fluroelastomers - Fluoroelastomer rubber, also known as Viton, functions effectively in a wide range of conditions, including weather, high temperatures, strong acids, ozone, various oils and petroleum compounds, and high vacuum settings. This substance is frequently used to seal pumps, valves, and leaks. Viton, a fluoroelastomer, has an extremely low compression set and a great resistance to petroleum products. They are therefore a wise option for managing and moving fuels and chemicals possesses a broad range of chemical compatibility.

By Application

  • Consumer Electronics - Wearable technology is a state-of-the-art technical solution used in electronic devices that can be worn comfortably on the body to track biometric data in real time. These devices can also be sewn into the user's clothes or implanted into their body. Among the often-utilized wearable technology-integrated goods are fitness trackers, smart jewellery, head-mounted displays, smart watches, and implantable gadgets. These devices give the user the ability to monitor their pulse and respiration rates in addition to their heart rate, steps, and amount of sleep. Without requiring the user to use their hands, these devices use microprocessors and sensors to collect and track information in real time.
  • Medical -. Because wearable medical devices can enhance both patient and general public lifestyles, the market for these devices is expanding more quickly than it was previously due to increased technical developments and advancements. A variety of medical solutions are available through wearable technology, which provide a handy way to monitor physiological conditions. In addition to being simple for consumers to use, these gadgets provide real-time data that doctors can evaluate. The healthcare business has a wide range of possible uses for wearable medical technologies, ranging from new continuous glucose monitoring systems to the EKG capabilities of the Apple Watch.
  • Industrial – Industrial wearable are useful instruments made to improve workplace safety, productivity, and efficiency in industries like manufacturing, logistics, healthcare, and lifestyle. Comprising of extremely advanced electronic components, these devices track actions, gather data, and offer personalized experiences based on the preferences and needs of its users. Additionally, they are designed to lessen work-related hazards and let an employee do the task at hand more easily. Sensors on gadgets gather and process information about the wearer's surroundings and health. Wearable technology can monitor workers' vital signs, identify potentially dangerous environmental circumstances, and even offer real-time feedback to avert mishaps in the context of industrial manufacturing safety.

Wearable Materials Market Regional Insights:

On region the Wearable Materials Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

  • North America particularly the United States and Canada, is a significant market for Wearable Materials due to strong regulatory frameworks and increasing investor demand for transparency in sustainability practices.
  • Asia Pacific region is rapidly growing in the Wearable Materials market due to increasing regulatory developments, investor interest, and corporate sustainability efforts. Countries like Japan, South Korea, and Australia are enhancing their ESG reporting requirements. China is also beginning to emphasize ESG reporting as part of its broader economic reforms.
  • Europe is expected to dominate the target market growth and this region is also considered a leader in the Wearable Materials market, driven by rigorous regulations and a strong cultural emphasis on sustainability and corporate responsibility.
  • Latin America is emerging as a promising market for Wearable Materials, driven by increasing awareness and regulatory initiatives. There is a growing awareness of the importance of ESG factors among businesses and investors in Latin America. This has led to increased adoption of ESG reporting practices.
  • Middle East & Africa region is a growing interest from both regional and international investors in ESG factors, driving companies to adopt ESG reporting tools to enhance transparency and attract investment.  

Wearable Materials Market Report Scope:

Attribute

Details

Market Size 2024

US$ 3.3 million

Projected Market Size 2034

US$ 11.7 million

CAGR Growth Rate

14.9%

Base year for estimation  

2023

Forecast period       

2024-2034

Market representation       

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Type- Silicones, Polyurethanes, Fluroelastomers

By Application – Consumers Electronics, Medical, Industrial

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Wearable Materials Market report based on By Type, by Application and Region:

Wearable Materials Market, By Type:

  • Silicones
  • Polyurethanes
  • Fluroelastomers

Wearable Materials Market, By Application:

  • Consumers Electronics
  • Medical
  • Industrial

Wearable Materials Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Wearable Materials Market By Key Players

The key players operating the Wearable Materials Market includes, BASF SE, DowDuPont Inc., Wacker Chemie AG, Koninklijke DSM N.V., Arkema S.A., Eastman Chemical Company, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Momentive Performance Materials, and the Lubrizol Corporation. Product launch is a key strategy adopted by the companies to strengthen their position in the wearable materials market.

Global Wearable Materials Market By Key Issues Addressed

  • In March 2024, during its Galaxy Unpacked event earlier this year, Samsung formally announced the release of a new smart wearable device called Galaxy Ring. The ring—which is anticipated to go on sale in late summer 2024—will be able to track the wearer's health parameters and offer insights based on the health measurements noted, much like a wristwatch.
  • In February 2024, The Samsung Galaxy Fit 3 will have a 1.6-inch AMOLED display with 256 x 402 pixels and 302 PPI. The leaked material suggests the fitness tracker might come with an aluminium body and IP68 rating with 5ATM water resistance. Samsung Galaxy Fit 3 price and launch date is yet to be revealed.
  • In August 2023, The International Data Corporation (IDC) India Monthly Wearable Device Tracker reports that 57.8 million devices were shipped in the first half of 2023, marking a robust 53.3% YoY (year-over-year) growth. There was a 128.6% YoY surge in smart watch sales as a result of brands releasing multiple models with new features and variations in terms of shape, design, material, and finish.

Global Wearable Materials Market By Company Profile

  • BASF SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategy Overview
  • DowDuPont Inc.,
  • Wacker Chemie AG
  • Koninklijke DSM N.V.
  • Arkema S.A.
  • Eastman Chemical Company
  • Shin-Etsu Chemical Co., Ltd
  • Elkem ASA
  • Momentive Performance Materials
  • Lubrizol Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Global Wearable Materials Market By Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings
    • Key Questions this Study Will Answer
    • Market Snippet, By Type
    • Market Snippet, By Application
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Silicones
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Polyurethanes
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Fluroelastomers
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Consumer Electronics
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Medical
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Industrial
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • Brazil
      • Mexico
      • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • BASF SE
  • DowDuPont Inc.,
  • Wacker Chemie AG
  • Koninklijke DSM N.V.
  • Arkema S.A.
  • Eastman Chemical Company
  • Shin-Etsu Chemical Co., Ltd
  • Elkem ASA
  • Momentive Performance Materials
  • Lubrizol Corporation

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

Wearable Materials Market was valued at US$ 3.3 billion in 2024 and is projected to grow at a CAGR of 14.9%to reach US$ 11.7 billion by 2034.

Wearable Materials Market is segmented into on the basis of type, application, and region.

Factors driving the Wearable Materials Market include Technological Innovation, Fashion and Lifestyle, Regulatory Support.

Restraints of the Wearable Materials Market include Expensive, Limited Battery Life, the market's expansion may be hampered by changes in the price of raw materials.

By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the Wearable Materials Market includes, BASF SE, DowDuPont Inc., Wacker Chemie AG, Koninklijke DSM N.V., Arkema S.A., Eastman Chemical Company, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Momentive Performance Materials, and the Lubrizol Corporation.