Market Synopsis
According to the MRFR analysis,
the Global Cooling Fabrics Market size was valued at around USD 2 Billion in
2019 and is expected to reach around USD 3.5 Billion by 2027 at a CAGR of
around 9%.
Cooling fabrics are functional
fabrics with thermoregulating characteristics that maintain body temperature
during hot weather and physical activities. The growing demand for sports
apparel and protective wearing, rising disposable income, consumer awareness
about the benefits of functional fabrics, and an increase in R&D
investments propel the growth of the global cooling fabrics market. Moreover,
rising demand for cooling fabrics in healthcare and marine applications is
likely to bring lucrative growth opportunities for the global market.
Furthermore, with the outbreak of COVID-19, various countries have undergone
preventive measures, which led to a lockdown of factories and disruptions in
trade. Therefore, the demand for global cooling fabrics is expected to decrease
during 2020.
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Competitive Landscape
Global Cooling Fabrics Market is highly consolidated with the presence of
global, regional, and local players. Manufacturers focus on the R&D of new
technologies to maintain a high quality of their products and the innovation of
new products to maintain a strong position in the market. Producers are
increasingly focusing on a strategic alliance with stakeholders to gain maximum
market share in the global market. Furthermore, researchers are increasingly
focused on developing fabric with automatic cooling or insulating properties as
per the conditions. For instance, the University of Maryland researchers have
developed such fabric with high-tech thermal properties.
Segmentation
By Type
- This segment is further divided into natural and
synthetic.
- The natural segment is projected to be the
fastest-growing segment during the assessment period. This is due to
rising inclinations towards biodegradable, breathable, and natural
fabrics. This includes fabrics that include cotton, silk, etc.
- The synthetic segment holds the largest market share
in the global cooling fabrics market. They offer outstanding physical
properties such as endurance, high strength, and stretchability.
Furthermore, they give a wide scope for innovation.
By Textile Type
- This segment is further divided into woven,
non-woven, and knitted.
- The woven segment is projected to witness moderate
growth in the coming decade. Woven fabrics are generally used in
protective wearing and have high dimensional stability and strength.
- The non-woven segment is projected to witness notable
growth during the assessment period. This is attributed to its low cost
and demand in lining fabrics.
- The knitted segment holds the major the share of the
global market due to the high stretch properties, fitting, and
breathability. Furthermore, this is the fastest-growing segment owing to
an increase in R&D investments in knitted cooling fabrics.
By Application
- This segment is further segmented into sports
apparel, lifestyle, protective wearing, and others.
- Sports apparel holds the largest share of the global cooling
fabrics market owing to the growing demand for functional fabrics
in sports and activewear. Many researchers are focusing on developing
high-tech cooling fabrics for Olympics players and marathon runners.
- The lifestyle segment is expected to witness moderate
growth in the assessment period due to rising disposable income and
increasing awareness among end-users about the benefits of cooling
fabrics.
- Protective wearing is expected to witness the fastest
growth in the global cooling fabrics market owing to the rising
investments in the biotechnology and pharmaceutical industries globally.
- The others segment is projected to witness the
fastest growth in the global market. This segment includes applications
such as marine, health apparel, and other leisure-related activities.
By Region
- North America: Market growth is driven by the
presence of advanced technologies, growing demand for sports apparel and
protective wearing, and large-scale end-users.
- Europe: Growing demand for comfortable clothing, an
increase in the number of sports events, and the presence of global
producers in Europe are driving the market in the region.
- Asia-Pacific: It is the fastest-growing regional
market due to the large textile industry and escalating economies.
- Latin America: High temperature and rising awareness
among consumers about the benefits of cooling fabrics are driving the
regional market.
- Middle East & Africa: Demand for sports apparel
and protective wear and growing economies are the key factors driving the
market in the region.
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