Tech-Trends | December 2014
Smart fabric sector offers vast scope
Smart fabrics market is worth $1.6 billion, according to IFAI estimates. Jeff Rasmussen, Market Research Manager at IFAI, USA in speaking recently at the IFAI´s Advanced Textile Expo in Minneapolis stated that the annual growth rate of smart fabrics sector worldwide is 18 per cent. The market size worldwide for this sector in 2013 was $1.37 billion and is projected to be $1.6 billion in 2014.
In the United States, safety and protective textiles sector is valued at $4.8 billion and is estimated to grow at 6 per cent per annum. Developing nations such as India are promoting investments in technical textiles to increase their textiles and clothing sector´s value.
By: Seshadri Ramkumar, Texas Tech University, USA