Wearable Material Market to Reach $7.4 billion, Globally, by 2032 at 12.2% CAGR: Allied Market Research
WILMINGTON, Del., April 23, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Wearable Material Market by Type (Silicon, Polyurethanes, Fluro elastomers) and Application (Consumer Electronics, Medical, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "wearable material market" was valued at $2.4 billion in 2022, and is estimated to reach $7.4 billion by 2032, growing at a CAGR of 12.2% from 2023 to 2032.
- By type, the polyurethanes segment accounted for the largest share in 2022, contributing to more than half of the global wearable material market revenue.
- Polyurethane (PU) is a highly versatile material that can be tailored to meet various performance requirements.
- By application, the consumer electronics segment accounted for the largest share in 2022, contributing to nearly half of the global wearable material market revenue.
- The large population base provides a substantial market for wearable devices, creating opportunities for manufacturers and suppliers of wearable materials.