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The market globally for Cooling Fabrics is expected to register a CAGR of more than 10% during the forecast period. The major factor driving the market studied is the growing demand for synthetic fibers globally.
- Sportswear application is the largest consumer of cooling fabrics, owing to their features like thermoregulation and the comfort of the fabric.
- The major hindering factor to this market is the cost of the cooling fabric that is relatively higher when compared to traditional fabric.
Key Market Trends
Increasing demand from sportswear application
- Sportswear is a major consumer for cooling fabrics market. Other than cooling characteristics, cooling fabrics have excellent strength, high elasticity, and smooth texture, due to which, the demand for synthetic cooling fabrics is expected to grow during the forecast period. Consequently, there is a major demand for cooling fabrics from the sportswear application.
- The sports apparel market globally was around USD 170 billion in 2018 and has been growing steadily year on year. It is expected to touch approximately USD 205 billion by 2025. Considering that the sports apparel market was about USD 130 billion in 2012, it is expected that the growth rate will continue to follow the trend over forecasting period.
- All the aforementioned factors, in turn, are expected to increase the demand for cooling fabrics market in the sportswear segment during the forecast period.
North America to Dominate the Market
- Presently, North America is the largest market for cooling fabrics.
- The presence of major cooling fabrics manufacturing companies has helped the North American region to develop into the largest market.
- The overall sports industry is the largest in North America and a large proportion of the share is occupied by sportswear.
- Sports Products manufacturers sales in the US has been observing a growing trend, in 2008 the wholesale sales were about USD 75 billion out of which almost USD 30 billion was attributed to Sports apparel, in 2018, the wholesale sales combined were approximately USD 95 billion, sports wear segment contributed about USD 37 billion. Manufacturers have been shifting their focus more towards performance oriented products in order to meet the consumer requirements in the country over the past few years.
- Thus, the rising demand from various applications is expected to drive the market in the region, during the forecast period
The Global Cooling Fabrics market is partially fragmented with many healthy competitions in the market. Asahi Kasei Corporation, Burlington, Coolcore, Nan Ya Plastics Corporation, NILIT Ltd and Polartec, among others
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