Introduction
Wearable
devices are smart electronic devices incorporated with the clothing or worn on
the person as accessories or implants. They are made of bio-compatible
materials and possess properties such as durability, flexibility, strength,
stiffness, toughness, lightness of weight, color stability, chemical and stain
resistance, sweat resistance, UV resistance, and resistance to cracking.
Materials used in the manufacture of wearable devices include fluoroelastomers,
polyurethanes, and silicones.
Global Wearable Materials Market: Trends & Developments
The global
wearable materials market has been expanding due to the rise in
disposable income in emerging economies and increase in demand for low-cost
wearables. Rise in popularity of Internet of Things (IoT) and connected
devices is expected to be another key factor expected to boost the global
wearable materials market during the forecast period. Volatility in prices of
raw materials and fluctuation in supply and demand are estimated to restrain
the wearable materials market.
Global Wearable Materials
Market: Segmentation
Based on
the type, the global wearable materials market can be segmented into
polyurethanes, fluoroelastomers, silicones, and others. Silicones are known for
their biocompatibility and wide range of skin care applications, including peel
and stick technology for wearable skin applications. Silicone adhesives are
used in a wide range of applications such as wound care products, wearable
monitoring devices, specialty cosmetic applications, medical device
attachments, and external prosthetic devices. Polyurethane conformal coatings
are used to protect sensitive micro-electronics, circuitry components,
micro-controllers, sensors etc. Polyurethane optical fibers are employed in
wearable breath monitoring sensors, owing to their mechanical flexibility to
measure inhalation and exhalation motions through optical transmission
variations of the fiber induced by bending and stretching. Fluoroelastomers are
commonly used in the manufacture of wristbands. They are used in various
wearable devices, as they provides luxurious look and feel, and increased
durability and comfort.
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Global Wearable Materials Market: Regional Outlook
In terms
of region, the global wearable materials market can be divided into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is the major region of the global wearable materials market. The
market in the region is projected to expand at a significant pace during the
forecast period. Additionally, rapid growth in electronics and semi-conductor
industries in China and Japan is likely to positively influence the wearable
materials market. China, South Korea, and Japan are the key countries for
wearable materials in Asia Pacific. Emerging economies such as India and
Vietnam are also expected to contribute substantially to the wearable materials
market. North America is a vital region of the wearable materials market. The
wearable materials technology in the U.S. is rapidly gaining popularity owing
to the increase in demand for wrist-wear, fitness-wear, and health and wellness
monitoring applications. Growth in popularity of wearable devices in the U.S.
is estimated to drive the global wearable materials market.
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Global Wearable Materials Market: Key Players
Key
players operating in the global wearable materials market are BASF SE, Wacker
Chemie AG, Arkema, Eastman Chemical Company, Elkem ASA, Koninklijke DSM N.V.,
The Lubrizol Corporation, Momentive, DowDuPont, Shin-Etsu Chemical Co., Ltd.,
Emerald Performance Materials, Covestro AG, Sumitomo Chemical Co., Ltd.,
Solvay, 3M, Sekisui Chemical Co Ltd., and DAIKIN INDUSTRIES, Ltd.
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