Analysis of Asia-Pacific Smart Textiles Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia-Pacific smart textile market is estimated at USD XX billion in 2016 and is forecasted to reach USD XX billion by 2021, at a CAGR of XX%. Asia-Pacific smart textile market accounts for XX% of global smart textile market in the year 2015. It is fastest-growing market, compared to the other regions. The market is driven mainly due to the high technology-based applications of smart textile in the fields like sports & fitness, military & defense, medical industry, etc. Application in sports & fitness clothing is the leading driver of the smart textile market in Asia-Pacific. The other drivers are growing applications in the military & defense industry and also the medical industry.  

Drivers

The two major drivers of the market are the growing demand of smart textile in the sport & fitness industry, along with its application in the military & defense industry. Due to the cheap labor in India and China, sport & fitness apparel manufacturing plants are set up in these countries. The sport & fitness industry accounts for XX% of the total smart textile industry in the APAC region, and it is expected to grow at XX% CAGR. The increase in budget allotted to the military & defense industry by few countries like China, India, etc., will drive the smart textile industry in the region.

Restraints and Challenges

The major restraining factors for the growth of the smart textiles market are the slow rate of adoption and the lack of extensive standards and regulations. Compatibility issues and high-cost of production of smart textiles are also some of the factors affecting the growth of this market. Smart textiles are highly complex and require high-end materials. Hence

, the perfect cost-price balance has been difficult to achieve. Incompatibility issues among different types of smart textiles and electronic systems are also common, further making it difficult for the global smart textiles market to achieve a steady growth.

Opportunities

The advances in nanotechnology are expected to boost the overall smart textile market in the Asia-Pacific region. Incorporating nanotechnology into fabrics helps to change or enhance the properties like fire resistance, electronic capability and monitoring. This textile has many applications in the health and military sector. For example, lightweight uniforms that can detect the blood flow in the body, lightweight battle suits, uniforms that can change the color to match the surrounding, etc.

Key Players:

AiQ Smart Clothing is a major player in the Asia-Pacific smart textile market.

About the Market

• PESTLE Analysis (Overview): Macro market factors pertinent to this region.

• Market Definition: Main, as well as, associated/ancillary components constituting the market.
• Key Findings of the Study: Top headlines about market trends & numbers.
• Market Dynamics:

• Drivers: What are the key factors driving growth in the market?
• Restraints: Most relevant threats and restraints which hinder the growth of the market?
• Opportunities: Sectors of high return or quick turn around on investment?
• Market Concentration: Porter’s 5 Forces Analysis quantified by a comprehensive list of parameters.

• Chain Analysis:
• Competition:

• Market Share Analysis: Top players in the market (by value and volume).
• Company Profiles: Pertinent details about leading, high growth, and innovation-motivated stakeholders with contact, operations, product/service offerings, financials and strategies & insights.