Cooling Fabrics Market Expected To Reach $3.2 Billion by 2027

According to a new report published by Allied Market Research titled, “Cooling Fabrics Market by Type, Textile Type and Application:  Opportunity Analysis and Industry Forecast, 2020–2027,” the global cooling fabrics market size was valued at $1.9 billion in 2019, and is projected to reach $3.2 billion by 2027, growing at a CAGR of 8.6% from 2020 to 2027.

The cooling fabrics market globally is expected to experience significant growth over the upcoming years, owing to increase in demand for cooling fabrics, rise in global population base, and rapid advancements witnessed in the technology sector. Rising global consumer purchasing power on luxury products such as designer clothes, advanced textiles and branded apparel is also expected to fuel the demand for cooling fabrics over the projected period. In the years ahead, the growing perception among individuals about comfortable clothing materials is expected to further increase the demand for cooling fabrics. However, high cost of producing these fabrics and the lack of suitable technologies can hamper the global demand for cooling fabrics. Alternatively, in demand for comfortable apparel in sports, the economic development, and the growing culture of sports in developing countries are projected to generate new market growth opportunities.

In the year 2019, the synthetic segment retained a large share in the cooling fabric industry. Synthetic fabrics are simpler to take care of than natural cooling fabrics and are less costly. Also, they can be engineered to obtain required qualities.

In 2019, the knitted segment garnered the largest cooling fabrics market share. Compared to woven fabrics, greater elasticity of knitted fabrics and their growing use in sports apparel propels the segment. 

The people's propensity to preserve better health and increase in the Earth temperature is generating high demand in lifestyle application for cooler clothing. During the forecast era, the capacity of these garments to decrease stress and heat is anticipated to propel the lifestyle application category.

Due to increase in the disposable income of people in developing countries and the high level of promotion by market players in the region, the cooling fabric market in Asia-Pacific is expected to see significant growth in the near future.

Some of the key players operating in the global cooling fabrics market are Ahlstrom-Munksjö, Asahi Kasei Corporation, Burlington, Coolcore LLC, Formosa Taffeta Co., Ltd., Hexarmor, Nan Ya Plastics Corporation, Nilit, Polartec, and Tex-Ray Industrial Co., Ltd.

Key Findings Of The Study:

• Based on type, the synthetic segment emerged as the global leader with more than 72.6% share in 2019.   
• Based on textile type, the knitted segment dominated the global cooling fabrics market with around 43.9% global market share in 2019.
• By application, the sports apparel segment dominated the global cooling fabrics market with around 54.5% global market share in 2019. 
• Countries such as the U.S., China, and India, are emerging as an investment centric hub due to wide scope in the manufacturing sector.

Impact Of Covid-19 On The Global Cooling Fabrics Market

• The world is battling the contagious COVID-19 pandemic, which has spread across the globe.  
• Some of the major economies suffering the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. 
• Cooling fabrics is primarily used in sports apparel, lifestyle, protective wearing, others; and as an impact of national lockdown, these sectors were experiencing a slight decline in growth rates.
• Owing to the recent COVID-19 pandemic, the global cooling fabrics market is experiencing a sudden decline in sales. Apart from this, players in this market are facing many issues related to production and transportation. Thus, the industry leaders are focused on strategizing business moves and minimizing the negative impact of COVID-19 pandemic. With many countries starting unlocking processes, the global cooling fabrics market is expected to regain its regular activities in the upcoming period.
• The coronavirus (COVID-19) has caused an exceptional situation globally, creating an incredible demand for healthcare goods in general and specifically for protective medical products.
• Cooling fabrics are also used to manufacture protective wear. Cooling fabrics create a cooler microclimate to remove heat between the user and the environment. Hence, the increasing demand for cooling fabrics in protective clothing is expected to drive the market.