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The cooling fabrics market is projected to grow at a CAGR of 9.1% between 2019 and 2024
The cooling fabrics market is estimated to be USD 2.4 billion in 2019 and is expected to reach USD 3.7 billion by 2024, at a CAGR of 9.1% from 2019 to 2024. Increasing demand for sports apparel, protective wearing and growing research & development for cooling fabrics are the main factors that have led to the growth of the cooling fabrics market. Initial investment and high manufacturing cost of cooling fabrics are restraining the growth of the cooling fabrics market.
The synthetic segment is projected to grow at the highest CAGR in the cooling fabrics market during the forecast period
Based on type, the synthetic segment is the largest type in 2019. This segment is projected to grow at the highest CAGR during the forecast period. Synthetic cooling fabrics market account for the larger market share owing to better moisture-wicking properties and provides an enhanced cooling effect to the wearer compared to natural cooling fabrics. The synthetic fabrics have other qualities, such as high strength, endurance, high elasticity, and smooth texture, which are sometimes not achievable with natural fabrics.
The knitted textile type is expected to lead the cooling fabrics market during the forecast period
Based on textile type, knitted cooling fabrics are expected to account for the largest share of cooling fabrics market in 2019. The knitted textile type has a high degree of elasticity due to the looseness of the fabric yarn when compared to woven fabrics. The knitted fabrics are more comfortable to the wearer due to its properties such as better breathability and fits the shape of the body in the best possible way. Due to this, knitted fabrics are used majorly for manufacturing sports apparel, which triggers the demand for knitted cooling fabrics during the forecast period.
Sports apparel is expected to lead the cooling fabrics market during the forecast period
Based on application, the sports apparel accounted for the largest share of the cooling fabrics market in 2018. This growth is mainly attributed to the increasing use of cooling fabrics while performing sports activities without hampering the performance of the wearer. The cooling fabrics increase the skin breathability of the wearer by letting the heat to escape from the body, providing a cool and comfortable feel.
Based on the region, North America is projected to grow at the highest CAGR in the cooling fabrics market between 2019 and 2024
The North America cooling fabrics market is expected to grow at the highest CAGR between 2019 and 2024. Growth in the North America cooling fabrics market is attributed mainly to the advancement in technology and the presence of a wide range of end-use application market. Further, increasing awareness towards health and wellness, growing sports & leisure activities, and changes in lifestyle has also contributed to the growth of cooling fabrics market in North America.
Breakdown of primary interviews for the report on the cooling fabrics market
- By Company Type – Tier 1 – 11%, Tier 2 –33%, and Tier 3 – 56%
- By Designation – C-Level – 20%, D-Level Executives – 10%, and Others – 70%
- By Region –Asia Pacific – 14%, Europe – 29%, North America – 36%, Middle East & Africa – 14% South America – 7%,
The leading manufacturers of cooling fabrics profiled in this report. Coolcore LLC (US), Ahlstrom-Munksj (Finland), NILIT (Israel), Polartec (US), Nan Ya Plastics Corporation (Taiwan), Tex-Ray Industrial Co., Ltd. (Taiwan), Formosa Taffeta Co., Ltd. (Taiwan), Asahi Kasei Corporation (Japan), Hexarmor (US) and among others.
The report covers the cooling fabrics market by type, textile type, application, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the cooling fabrics market.
The report provides insights on the following:
- Market Penetration: Comprehensive information on various raw material and processes of cooling fabrics offered by top players operating in the market
- Product Development/Innovation: Detailed insights into upcoming developments in cooling fabrics, R&D activities, and new applications in various end-use industries in the market
- Market Development: Comprehensive information about lucrative and emerging markets across different regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cooling fabrics market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the cooling fabrics market