Wearable Materials Market By Type (Fluoroelastomers, Silicones, Polyurethanes, Bioplastics, Polyester, Polyethylene Terephthalate, Polyamide, Polyaniline, & Others), By Application (Electronic Devices (Smart Watches, Headsets, Activity Trackers, Earbuds, AR/VR Accessories, Others), Medical Devices (Health Monitors, Fitness Trackers, Others), Industrial, & Others) - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 48220 Report Format: PDF + Excel

Wearable Materials Market Overview

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. A broad spectrum of wearable materials such as fluoroelastomers, silicones, polyurethanes, and polyethylene terephthalate are used in the manufacturing of several high-end products. Wearable materials are extensively utilized in multiple electronic devices such as smartwatches, activity trackers, earbuds, and headsets. The demand for electronic products is increasing globally with increasing production and sales of electronic items and this is expected to drive the market’s growth during the forecast period. For instance, according to the July 2021 stats by China.org.cn, consumer electronics export in South Korea had a growth trajectory for 12 months in a row. Furthermore, wearable materials are found in medical devices such as fitness trackers, hearing aids, and health monitors. The healthcare sector is expanding globally with increasing investments and this is anticipated to influence the market’s growth during the forecast period. For instance, Europe’s healthcare expenditure increased in 2019 with Germany (11.7%) witnessing the highest expenditure relative to GDP. The fluctuation in the prices of raw materials might hamper the market’s growth during the forecast period.

COVID-19 Impact

The wearable materials market was influenced due to the COVID-19 pandemic. The arrival of the pandemic increased awareness about health and fitness, increasing the demand for various electronic and medical devices. As per the data by the National Institutes of Health (NIH), smartwatches played a key role in gathering information regarding the impact of COVID-19 on people’s health in the US. Researchers collected important health data with the help of Fitbits and Apple fitness trackers. Going forward, the market is expected to witness robust growth owing to the increasing demand for electronic and medical devices.

Report Coverage

The report: Wearable Materials Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the wearable materials industry. 

By Type: Fluoroelastomers, Silicones, Polyurethanes, Bioplastics, Polyester, Polyethylene Terephthalate, Polyamide, Polyaniline, and Others
By Application: Electronic Devices (Smart Watches, Headsets, Activity Trackers, Earbuds, AR/VR Accessories, Others), Medical Devices (Health Monitors, Fitness Trackers, Others), Industrial, and Others 
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • 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.
  • 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.
  • 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

Figure: Asia Pacific Wearable Materials Market Revenue, 2021-2027 (US$ Billion)

Wearable Materials Market

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Wearable Materials Market Segment Analysis - By Type

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. Owing to such a diverse portfolio, market players and research organizations are focused on the higher use of silicones. For instance, as per the December 2021 journal by the American Chemical Society (ACS), a wearable sweat glucose sensor was successfully developed by using silicon material. Such high use of silicon material is expected to increase their demand in the market during the forecast period.

Wearable Materials Market Segment Analysis - By Application

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. The wearable materials come with robust properties such as exceptional UV and chemical resistance, high toughness, lightweight, and soft-touch comfort, allowing their high usage in the manufacturing of smartwatches, headsets, earbuds, and AR/VR accessories. The demand for electronic devices is increasing globally owing to the rising interest among consumers for advanced technologies and this is expected to drive the market’s growth during the forecast period. For instance, as per the August 2020 report by Fitbit, consumer demand for Fitbit devices was strong in the second quarter of 2020, with Fitbit trackers accounting for the highest share (56%) in the overall revenue. Similarly, as per the January 2022 report by Apple, net sales in the wearables segment stood at US$14,701 million in December 2021 which was US$12,971 million in December 2020. Such high demand for electronic devices is expected to increase the higher use of wearable materials, in turn driving the market’s growth during the forecast period

Wearable Materials Market Segment Analysis - By Geography

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. The demand for electronic products in the region is increasing robustly and this is expected to increase the demand for wearable materials during the forecast period. For instance, as per the data by India Brand Equity Foundation, the consumer electronics and appliance industry is projected to grow twice the current market size, reaching a market value of US$21.18 billion by 2025. Similarly, as per the March 2022 stats by china.org.cn, shipments of China’s wearable devices increased by 25.4% in 2021. Such massive growth in the demand for electronic products is anticipated to stimulate the demand for wearable materials during the forecast period.

Wearable Materials Market Drivers

Expanding healthcare sector is driving the market’s growth

Healthcare is on an important market for wearable materials where they are used in the production of multiple healthcare devices such as wearable blood pressure monitors, hearing aids, biosensors, contact lenses, and various other components. The healthcare sector globally is expanding with increasing expenditure by governments and this is expected to propel the market’s growth during the forecast period. For instance, according to the October 2021 stats by America's Debt Help Organization, total healthcare spending in the US went past USD4 trillion in 2020 out of which US$1.24 trillion was recorded for expenditure on hospital services. Similarly, as per the March 2021 data by India Brand Equity Foundation, the Indian healthcare sector is projected to witness a three-fold rise, reaching US$372 billion in 2022. Such massive expansion in the healthcare sector globally is expected to bolster the use of wearable materials in the manufacturing of healthcare devices which will contribute to the market’s growth during the forecast period.

Increasing demand for electronic devices is influencing the market’s growth

Wearable materials such as fluoroelastomers, silicones, and polyurethanes are widely used in the production of several electronic devices. Smartwatches, headsets, and earbuds, among others, are manufactured with the use of various wearable materials. The demand for electronic devices is increasing and this is expected to augment the market’s growth during the forecast period. For instance, as per the October 2021 report by Apple, net sales of wearables amounted to US$38,367 million in 2021 which was US$30,620 in 2020. Similarly, as per the January 2022 report by Samsung Electronics, the company’s revenue increased in the fourth quarter of 2021 owing to the expanded sales of wearables. Such high demand for electronic products is expected to catapult the demand for wearable materials, in turn propelling the market’s growth during the forecast period.

Wearable Materials Market Challenges

The fluctuation in raw materials prices might hamper the market’s growth

The market involves raw materials such as polyethylene terephthalate and polyurethane which are petroleum-based. The prices of these materials are fluctuating with the fluctuation in the price of petroleum and this might hinder the market’s growth. As per the stats by ourworldindata.org, the crude oil price was recorded at US$54.19 per barrel in 2017 which surged to US$64.21 per barrel in 2019. The oil price again went down, reaching US$41.84 per barrel in 2020. Such fluctuations in oil prices created volatility in petroleum prices, in turn fluctuating the price of the raw materials. This fluctuation in the prices of raw materials might affect the market’s growth during the forecast period.

Wearable Materials Market Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the wearable materials market. Global wearable materials top 10 companies include:

  1. BASF SE
  2. Shin-Etsu
  3. Wacker Chemie
  4. Covestro
  5. DSM
  6. Eastman Corporation
  7. Arkema
  8. Momentive Performace Materials
  9. Solvay
  10. Sekisui Chemical Co., Ltd.

Recent Developments

  • In December 2021, Shin-Etsu Chemical announced the development of electrophysiological dry electrodes and high-elasticity wiring materials for advanced wearable devices.
  • In October 2021, Elkem announced its investment plan to expand the production of specialty silicones by 20,000 metric tons at its upstream plant in France. This expansion of silicones will contribute to the needs of healthcare and medical devices.
  • In June 2019, DSM announced the launch of its new production line for Arnitel in the Netherland. This new production line helped DSM to meet the growing demand for Arnitel high-performance thermoplastic copolyesters in the consumer electronics sector.

Relevant Reports

Wearable Fitness Technology Market - Forecast(2022 - 2027)

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Wearable Medical Devices Market – Forecast (2022 - 2027)

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Wearable Sensors Market - Forecast(2022 - 2027)

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1. Wearable Materials Market- Market Overview
    1.1 Definitions and Scope
2. Wearable Materials Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by Geography
3. Wearable Materials Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Wearable Materials Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Wearable Materials Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Wearable Materials Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Wearable Materials Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Wearable Materials Market – By Type (Market Size -US$ Million, Billion)
    8.1 Fluoroelastomers
    8.2 Silicones
    8.3 Polyurethanes
    8.4 Bioplastics
    8.5 Polyester
    8.6 Polyethylene Terephthalate
    8.7 Polyamide
    8.8 Polyaniline
    8.9 Others
9. Wearable Materials Market – By Application (Market Size -US$ Million, Billion)
    9.1 Electronic Devices
        9.1.1 Smart Watches
        9.1.2 Headsets
        9.1.3 Activity Trackers
        9.1.4 Earbuds
        9.1.5 AR/VR accessories
        9.1.6 Others
    9.2 Medical Devices
        9.2.1 Health Monitors
        9.2.2 Fitness Trackers
        9.2.3 Others
        9.3 Industrial
        9.4 Others 
10. Wearable Materials Market - By Geography (Market Size -US$ Million / Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of Asia Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 ROW
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Wearable Materials Market-Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Wearable Materials Market- Industry/Segment Competition Landscape Premium
    12.1 Company Benchmarking Matrix- Major Companies
    12.2 Market Share at Global Level- Major companies
    12.3 Market Share by Key Region- Major companies
    12.4 Market Share by Key Country- Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category- Major companies
13. Wearable Materials Market- Key Company List by Country Premium Premium 
14. Wearable Materials Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies*"

LIST OF TABLES

1.Global Wearable Materials Market, By Type Market 2019-2024 ($M)
1.1 Silicones Market 2019-2024 ($M) - Global Industry Research
1.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
1.2 Polyurethanes Market 2019-2024 ($M) - Global Industry Research
1.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
1.3 Fluoroelastomers Market 2019-2024 ($M) - Global Industry Research
1.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)
2.Global Wearable Materials Market, By Type Market 2019-2024 (Volume/Units)
2.1 Silicones Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 (Volume/Units)
2.2 Polyurethanes Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 (Volume/Units)
2.3 Fluoroelastomers Market 2019-2024 (Volume/Units) - Global Industry Research
2.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 (Volume/Units)
3.North America Wearable Materials Market, By Type Market 2019-2024 ($M)
3.1 Silicones Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
3.2 Polyurethanes Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
3.3 Fluoroelastomers Market 2019-2024 ($M) - Regional Industry Research
3.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)
4.South America Wearable Materials Market, By Type Market 2019-2024 ($M)
4.1 Silicones Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
4.2 Polyurethanes Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
4.3 Fluoroelastomers Market 2019-2024 ($M) - Regional Industry Research
4.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)
5.Europe Wearable Materials Market, By Type Market 2019-2024 ($M)
5.1 Silicones Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
5.2 Polyurethanes Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
5.3 Fluoroelastomers Market 2019-2024 ($M) - Regional Industry Research
5.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)
6.APAC Wearable Materials Market, By Type Market 2019-2024 ($M)
6.1 Silicones Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
6.2 Polyurethanes Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
6.3 Fluoroelastomers Market 2019-2024 ($M) - Regional Industry Research
6.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)
7.MENA Wearable Materials Market, By Type Market 2019-2024 ($M)
7.1 Silicones Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Silicones are Biocompatible and Versatile Materials Market 2019-2024 ($M)
7.2 Polyurethanes Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Polyurethanes are Used in Wearable Skin Patches, Soft-Touch Bands in Smartwatches Market 2019-2024 ($M)
7.3 Fluoroelastomers Market 2019-2024 ($M) - Regional Industry Research
7.3.1 Fluoroelastomers Enhance the Look and Feel of Wearable Products Market 2019-2024 ($M)

LIST OF FIGURES

1.US Wearable Materials Market Revenue, 2019-2024 ($M)
2.Canada Wearable Materials Market Revenue, 2019-2024 ($M)
3.Mexico Wearable Materials Market Revenue, 2019-2024 ($M)
4.Brazil Wearable Materials Market Revenue, 2019-2024 ($M)
5.Argentina Wearable Materials Market Revenue, 2019-2024 ($M)
6.Peru Wearable Materials Market Revenue, 2019-2024 ($M)
7.Colombia Wearable Materials Market Revenue, 2019-2024 ($M)
8.Chile Wearable Materials Market Revenue, 2019-2024 ($M)
9.Rest of South America Wearable Materials Market Revenue, 2019-2024 ($M)
10.UK Wearable Materials Market Revenue, 2019-2024 ($M)
11.Germany Wearable Materials Market Revenue, 2019-2024 ($M)
12.France Wearable Materials Market Revenue, 2019-2024 ($M)
13.Italy Wearable Materials Market Revenue, 2019-2024 ($M)
14.Spain Wearable Materials Market Revenue, 2019-2024 ($M)
15.Rest of Europe Wearable Materials Market Revenue, 2019-2024 ($M)
16.China Wearable Materials Market Revenue, 2019-2024 ($M)
17.India Wearable Materials Market Revenue, 2019-2024 ($M)
18.Japan Wearable Materials Market Revenue, 2019-2024 ($M)
19.South Korea Wearable Materials Market Revenue, 2019-2024 ($M)
20.South Africa Wearable Materials Market Revenue, 2019-2024 ($M)
21.North America Wearable Materials By Application
22.South America Wearable Materials By Application
23.Europe Wearable Materials By Application
24.APAC Wearable Materials By Application
25.MENA Wearable Materials By Application
26.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Dowdupont, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Wacker Chemie, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.DSM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Arkema, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Eastman Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Shin-Etsu, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Elkem, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Momentive Performance Materials, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Lubrizol, Sales /Revenue, 2015-2018 ($Mn/$Bn)