The worldwide market for smart fabrics is projected to be US$2.2 billion in 2016 and is growing at an 18% clip annually, according to topline numbers presented by the Industrial Fabrics Association International (IFAI), at the Smart Fabrics Summit held in Washington DC on April 11. The event was co-organised by the IFAI and the US department of commerce. Jeff Rasmussen, the market research manager of the IFAI, said the US sector, which currently comprises about 45% of the global market, is also poised for strong growth of 27% this year. Both the US and global markets have been spurred by increasing populations, rising global GDP, and China's rapid industrialisation, Rasmussen said in his introductory address.
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