Wearable Materials Market 2020 Will Emerge Globally And Grow at 16% of CAGR by 2026 | Top Players: BASF, DSM, Eastman Chemical Company, Elkem, Covestro AG, Wacker Chemie, Arkema, Momentive Performance Materials and more.... | Know the Impact Analysis of C

The Global Wearable Materials Market was valued at US$ 3.2 bn by the year 2023, growing at a CAGR of approximately 16% by 2027.
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Wearable materials are bio-compatible materials which are used in the wound dressing and skin patches, drug delivery devices, medical implants, and medical smart electronic devices. Wearable materials are available in many forms such as silicones, polyurethanes, fluoroelastomers, polyaniline etc. These wearable materials have characteristics such as flexibility, durability, strength, chemical resistance, UV resistance, and sweat resistance.

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Market Segmentation:
Following Top Key players are profiled in this Market Study:
BASF, DSM, Eastman Chemical Company, Elkem, Covestro AG, Wacker Chemie, Arkema, Momentive Performance Materials, DAIKIN INDUSTRIES, Ltd., The Lubrizol Corporation, Shin-Etsu Chemical Co., Ltd., and Solvay, Sekisui Chemical Co Ltd. among others

Based on application, the healthcare application segment is expected to grow at a CAGR of around 16% throughout the forecast period
Based on application, the market has been segmented into consumer electronics, healthcare, industrial and others. The consumer electronics application segment accounts of the largest share in the market and accounting 37% market share in 2018. While the healthcare segment is expected to hold the highest CAGR of nearly 16% during the forecast period. The growing popularity of wearable electronic devices, such as health fitness tracker or bands, and the availability of such device are affordable cost contributes to the growth of consumer electronic segment during the forecast period. Also, the increasing innovation in the healthcare industry and the growing popularity of artificial intelligence would contribute to the growth of healthcare application segment in the near future.

Regional Analysis:
North America
Europe
Asia Pacific
LATAM
Middle East Africa

North America to dominate the wearable materials market throughout the forecast period
North America accounted for the largest market share nearly 39% of the global Wearable materials market in 2018 and is expected to dominate the market throughout the forecast period. The growth is mainly attributed to the high disposable income and purchasing power, high demand for fitness tracking gadgets and higher adoption of technologically advanced devices.

Asia Pacific is expected to register the highest CAGR in the global market during the forecast period. Growing awareness regarding fitness activities, increasing purchasing power and availability of mid-end to low-end fitness devices contributes to the growth of Asia Pacific wearable materials market throughout the forecast period. Also, increasing healthcare expenditure in Asia Pacific regions is likely to contribute to the growth of this segment during the forecast period.

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