Cooling Fabrics Market worth USD 4.45 Billion by 2028, registering a CAGR of 9.37% – Report by Market Research Future (MRFR)
New York, Aug. 17, 2021 (GLOBE NEWSWIRE) — Cooling Fabrics Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Cooling Fabrics Market Research Report: By Type, By Textile Type and By Application – Forecast to 2028” the market size is projected to be worth USD 4.45 Billion by 2028, registering a CAGR of 9.37% during the forecast period (2021 – 2028), The market was valued at USD 2.15 Billion in 2020.
Market Scope:
Cooling fabrics are practical materials that keep the body temperature at a comfortable level during hot weather and physical activity. Air cooling, liquid cooling, phase change cooling, and evaporative cooling are all used. Sports gear, protective clothing, healthcare apparel, and leisure-related activities are just a few of the applications.
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Competitive Landscape:
The notable players of the cooling fabrics industry profiled are
- Coolcore (US)
- Ahlstrom-Munksjö (Finland)
- NILIT Ltd (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)
- Tehrani Industrial Group (Iran)
- Sun Dream Enterprise Co., Ltd (Taiwan)
- Hong Li Textile Co., Ltd (Taiwan)
- Everest Textile Co., Ltd (Taiwan)
- Nanotex LLC (US)
Browse In-depth Market Research Report (147 pages) on cooling fabrics industry
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Market Drives
The increased demand for protective clothing and sportswear is a major element driving the growth of the cooling fabrics market value. The global market is expected to develop further as disposable income rises, consumers become more aware of functional fabrics and their benefits, and R&D spending for cooling fabric innovation rise. Furthermore, the global market is expected to benefit from increased demand for cooling fabrics in healthcare and maritime applications. Cooling fabrics are in high demand in military applications due to benefits such as temperature management, resistance to damaging ultraviolet (UV) radiation and pollutants, and the protection they provide to wearers in extreme temperatures. The demand for cooling fabrics in healthcare applications is predicted to expand as people in developed countries become more conscious of how to improve their health and quality of life.
Market Restraints:
The high cost of cooling fabrics, on the other hand, is expected to stifle market expansion. Consumer choices, oil prices, and global trade patterns are all factors influencing the cooling fabrics market share. The majority of cooling fabric manufacturers are having difficulty maintaining profit margins due of raw material price volatility, which is affecting their financial performance.
COVID-19 Analysis
Furthermore, the global cooling fabrics market growth gr has seen a drop in demand during the first half of 2020 because to the ongoing COVID-19 situation. With the rising number of illnesses and deaths around the world, governments in many nations have taken preventative steps, such as shutting down many plants and reducing cooling fabric production output. The ease of lockdown, on the other hand, is projected to stabilize demand.
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Market Segmentation
The market is divided into two types: natural and synthetic. During the evaluation period, the natural segment is expected to increase at the quickest rate. This is because people are becoming more interested in biodegradable, breathable, and natural textiles. Cotton, silk, and other materials fall into this category. In the worldwide cooling fabrics market, the synthetic category has the greatest market share. They have exceptional physical qualities like endurance, strength, and stretchability. They also provide a lot of room for creativity.
The market is separated into three types of textiles: woven, non-woven, and knitted. Because of its high stretch qualities, fit, and breathability, the knitted segment dominates the global market. Furthermore, due to increased R&D spending in knitted cooling materials, this is the fastest-growing segment.
The market is divided into sports apparel, lifestyle, protective wear, and others based on application. Because of the increased demand for functional textiles in sports and activity, sports apparel has the greatest share of the worldwide cooling fabrics market.
Regional Insights:
The existence of innovative technologies and significant end-users drives the market for cooling textiles in North America.
The market in Europe is being driven by rising demand for comfortable sports gear, rising per capita apparel spending, and shifting consumer preferences for functional clothing.
Because of the region’s vast textile sector, Asia-Pacific is the fastest-growing regional market. Emerging economies like India, China, and Thailand have a lot of development potential.
The market for cooling fabrics is expanding in the Middle East and Africa, owing to a growing emphasis on protective clothing and increased awareness among end users.
Due to the region’s developing economies and exceptionally high temperatures, cooling fabrics are expected to be in great demand in Latin America.
Segmentation of Market covered in the research:
Cooling Fabrics Market Research Report: By Type (Natural, Synthetic), By Textile Type (Woven, Non-Woven, Knitted) and By Application (Sports Apparel, Lifestyle, Protective wearing, Others) – Forecast to 2028
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