Neoprene is a synthetic rubber, used in the production of wetsuits and various types of utility clothing for athletes engaged in sports and fitness activities. It helps enhance the performance of athletes, owing to its various advantages such as enhanced grip, wicking function, and bi-stretchable characteristics.
Surge in health awareness among people and increment in sports and wellness eagerness among consumers foster the adoption of neoprene-based outfits. The rise in demand for neoprene-based outfits is attributed to its various properties such as quick drying, static resistance, and thermal resistance. Moreover, ascend in interest of consumers in sports & fitness related activities fuel the fitness & sports apparel industry, thus generating demand for various types of quality fabrics such as polyester, nylon, neoprene, and spandex. For instance, increase in participation of people in fitness related activities leads to surge in sales of sport shoes and running shorts & t-shirts.
Furthermore, holistic approach of the population especially the youth toward athleisure wear positively impacts the growth of the overall market. In addition, growth in coastal tourism significantly generates high demand for swim wears. Surge in the demand for swim wear is anticipated to foster the growth of various fabrics including neoprene, polyester, and nylon.
High cost involved in designing of quality neoprene-based performance wear and the volatile cost of raw materials associated with the industry is anticipated to hinder the market growth among price-sensitive consumers. Similarly, increase in infiltration of the counterfeit products in the market is anticipated to cause inconvenience & safety issues for consumers and thus further shrink the market growth.
Conversely, rise in promotional activities of various sports & fitness apparel is anticipated to create product & brand awareness, which is projected to accelerate the market growth. In addition, initiatives by various organizations such as rise in number of fitness-related campaigns and women empowerment in various activities including sports are anticipated to expand the consumer base. Moreover, development of green textile and its use in formulation of fitness wear is expected to attract green consumers, which is anticipated to provide lucrative opportunities for the market expansion.
The report segments the global neoprene fabric industry based on type, end use, and region. Based on type, it is bifurcated into polychloroprene rubber and circular knit. Based on end use, the market is categorized into outerwear; ready-to-wear; swim wear, wet suit, &rash guard; footwear; and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the neoprene fabric market include Rivertex Technical Fabrics Group, Colmant Coated Fabrics, Fabric House S.R.L., Sheico Group, Lomo UK, Techneopro Ltd., Xcel Hawaii, Inc. (Boardriders, Inc.), Rip Curl Group Pty Ltd., Brunotti Europe BV, and Johnson Outdoors Inc.
Other prominent players in the market include Active Foam Products, Inc., Sky Industries Limited, Eastex Products, Inc., and Auburn Manufacturing, Inc.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging market trends and opportunities in the global neoprene fabric market.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists in evaluating the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By End Use
Swim Wear, Wet Suit, & Rash Guard
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA