Cooling Fabrics Market Size Expected to Fly High with Increased Demand

The growth of the cooling fabrics market is primarily driven by the increasing demand for sportswear and protective wear, as well as the growing popularity.

WILMINGTON, DELAWARE, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- According to a report published by Allied Market Research, titled "Cooling Fabrics Market by Type (Synthetic and Natural), Textile Type (Woven, Nonwoven, Knitted, and Others), and Application (Sports Apparel, Lifestyle, Protective Wearing, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027," the global cooling fabrics market is projected to reach $3.2 billion by 2027, with a compound annual growth rate (CAGR) of 8.6% from 2020 to 2027. In 2019, the market was estimated to be worth $1.9 billion.

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The growth of the cooling fabrics market is primarily driven by the increasing demand for sportswear and protective wear, as well as the growing popularity of cooling fabrics. However, the high cost of the products acts as a restraint to market growth. Nonetheless, the market is expected to present new opportunities in the coming years due to the rising demand for cooling fabrics in medical and defense applications.

The COVID-19 pandemic had a negative impact on the manufacturing activities and supply chain of cooling fabrics, resulting in a decline in demand. However, as the market gradually recovers, the demand for cooling fabrics is expected to rise.

In terms of textile type, the knitted segment accounted for over two-fifths of the global cooling fabrics market revenue in 2019 and is projected to retain its dominance throughout the forecast period. Knitted fabrics are preferred for their comfort, breathability, and ability to conform to the body shape. The woven segment is expected to witness the fastest growth, with a CAGR of 9.2% from 2020 to 2027, owing to their superior functionality and physical properties.

Among the various applications, the sports apparel segment held the largest market share in 2019 and is expected to maintain its dominance until 2027. Cooling fabrics used in sports apparel absorb sweat and provide a cooling effect, driving the segment's growth. The lifestyle segment is projected to exhibit the fastest CAGR of 9.1% by 2027, fueled by collaborations among major market players and advancements in lifestyle offerings.

North America dominated the cooling fabrics market in 2019, accounting for over two-fifths of the global market share. The region's market growth is attributed to technological advancements, investments in research and development, and a wide range of end-use applications. The Asia-Pacific region is expected to witness the highest CAGR of 9.2% from 2020 to 2027, driven by the increasing consumer focus on fitness, health consciousness, and government support.

Key players in the cooling fabrics industry include Asahi Kasei Corporation, Coolcore LLC, Formosa Taffeta Co., Ltd., Burlington, Hexarmor, Nan Ya Plastics Corporation, Polartec, Nilit, and Tex-Ray Industrial Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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