Cooling Fabrics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Cooling Fabrics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Cooling Fabrics Market size is estimated at USD 2.42 billion in 2024, and is expected to reach USD 3.43 billion by 2029, growing at a CAGR of 7.21% during the forecast period (2024-2029).

The market was negatively impacted by COVID-19 in 2020, as the outbreak halted production activities and restricted the mobility of textile goods. The pandemic caused a delay in textile production due to containment measures and economic disruptions. Currently, the market has recovered from the pandemic and is growing at a significant rate. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.

Key Highlights

• Sportswear application is the largest consumer of cooling fabrics, owing to their features like thermoregulation and the comfort of the fabric. The increasing demand for cooling fabric for sportswear applications has been a driving factor for the studied market.
• The higher cost of the cooling fabric compared to traditional fabric stands as one of the major factors hindering the market growth.
• However, the increasing use of cooling fabrics in defense, healthcare, and medical sectors is expected to provide opportunities for the market to flourish.
• The North American region dominated the market worldwide, with countries like the United States and Canada being the biggest consumers.

Cooling Fabrics Market Trends

Increasing Demand from Sportswear Application

• Sportswear is the major application segment for the cooling fabrics market. These fabrics are highly used in sportswear applications owing to their cooling characteristics, excellent strength, high elasticity, and smooth texture.
• Cooling fabrics used in sports apparel provide increased comfort to sports persons during physical activities that are designed for specific sports such as cycling, running, and basketball, among others.
• Further, the increasing focus on sports and personal fitness activities, along with surging technological advancement to develop more efficient cooling fabrics are anticipated to boost the market growth over the forecast period.
• The sports apparel market globally has been growing steadily year on year. The United States has a significantly large sports apparel market. According to the Skills Framework for the Information Age (SFIA), the wholesale sales of athletic apparel accounted for about USD 45 billion, reflecting an increase of 6.4 % in 2022 compared to the previous year.
• Therefore, all such factors mentioned above are expected to play an instrumental role in driving the demand for the cooling fabrics market from the sportswear segment over the forecast period.

North America to Dominate the Market

• The North American region dominated the global cooling fabric market in terms of demand, owing to increasing consumption of sportswear, protective wear, and apparel, among others.
• The presence of major cooling fabrics manufacturing companies has helped the North American region to develop into the largest market.
• Sports products manufacturers in the United States have been shifting their focus more towards performance-oriented products in order to meet consumer requirements in the country over the past few years.
• In Canada, according to Trendex North America, the market value of the athletic leisure apparel market in the country is forecasted to reach nearly USD 3.6 billion by 2024.
• Further, the United States is a globally competitive manufacturer of textiles, including fabrics, apparel, and other textile-finished products. The United States imports of textiles and apparel have continued to grow in value terms and rose by 16.03% to USD 132.20 billion in 2022, compared to USD 113.94 billion in 2021, as per the latest Major Shippers Report released by the US Department of Commerce.
• Therefore, all such aforementioned factors are expected to have a positive influence on the demand for cooling fabric market in North America over the forecast period.

Cooling Fabrics Industry Overview

The Cooling Fabrics Market is partially fragmented in nature. The major players in the studied market (not in any particular order) include Asahi Kasei Corporation, Coolcore, NAN YA PLASTICS CORPORATION, NILIT, and Polartec, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support