Smart Fabrics Market size was valued at USD 4,748.6 million in 2021, growing at a CAGR of 14.2% during the forecast period 2022 to 2028. The market provides a detailed overview and that can be segmented by Product Type, by Functionality, by Application. By Product Type, the global Smart Fabrics Market has been segmented into Active, Passive, and Very Smart. The Active segment is likely to be the largest and fastest-growing segment in terms of product type. Based on Functionality, the market is segmented into Sensing, Energy Harvesting, Thermoelectricity, Luminescence & aesthetics, and Others. Among these, the Luminescence & aesthetics segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on Application, the global market is segmented into Protection & military, Sports & Fitness, Medical, Fashion & Entertainment, Transportation, Architecture Others. The Protection & military segment accounts for the largest share in 2021. The Sports & Fitness segment is the second-largest share during the forecast period 2022-2028.
In October 2022, The New York Textile Act was signed by Governor Hochul to support the state’s manufacturing sector.
In July 2021, Laird Performance Materials, a well-known provider of high-performance electromagnetic shielding and thermal management solutions, was acquired by DuPont.