Jeff Rasmussen, IFAI market research director, presented a brief overview of the advanced textiles market at IFAI’s Expo 2018 in Dallas this week. His research reveals that steady growth should be expected at 8.8 percent for 2018 (the same as 2017). In his Advanced Textiles Market Update, Rasmussen pointed to the overlay between the smart fabrics and the advanced textile products (ATP) markets.
“The smart fabrics market has made more progress in the last two years than it has in the last fifteen years,” he said. The positive side of this is that the crossover effect supports growth for many of the market segments and sub-segments within ATP. This is especially important in keeping industry momentum going when considering the length of time that it takes to gain FDA approval. The largest market segment in the U.S. ATP market for 2017 was performance clothing with a massive 72 percent share, with composites in second place but trailing at just 13 percent.