Cooling Fabrics Market Projected to Reach 2.94 Billion USD by 2021
The cooling fabrics market was valued at USD 1.80 Billion in 2016 and is projected to reach USD 2.94 Billion by 2021, at a CAGR of 10.3% from 2016 to 2021. The growth of the cooling fabrics market is mainly attributed to the growing demand from sportswear and protective wearing market applications.
[UKPRwire, Thu Dec 07 2017] The report "Cooling Fabrics Market by Application (Sports Apparel, Protective Clothing, Lifestyle), Type (Synthetic, Natural), and Region - Global Forecast to 2021", The cooling fabrics market was valued at USD 1.80 Billion in 2016 and is projected to reach USD 2.94 Billion by 2021, at a CAGR of 10.3% from 2016 to 2021.
Browse 45 market data tables and 48 figures spread through 156 pages and in-depth TOC on "Cooling Fabrics Market - Global Forecast to 2021"
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Major reasons fueling the growth of the cooling fabrics market are the increasing demand from sportswear and protective wearing market applications. Innovations in the textile industry and demand for new garments that provide long lasting cooling effect are also expected to drive the cooling fabrics market in the coming years.
The synthetic segment is expected to grow at the highest rate in the cooling fabrics market by 2021
Based on type, the synthetic cooling fabrics segment is estimated to grow at the highest rate in the cooling fabrics market during 2016-2021 due to the increasing demand from and usage in various end-use industries. Durability of synthetic fabrics and cooling provided by them, which are sometimes not achievable with natural fabrics, lead to their higher market share. Easy availability of raw materials used to make these fabrics is another factor that drives the growth of this segment. Hence, synthetic cooling fabrics are widely used in different end-use industries. Hence, synthetic cooling fabrics manufactured from nylon, polyester, and spandex are used widely.
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The sports apparel segment is expected to lead the cooling fabrics market by 2021
By application, the sports apparel segment accounted for the largest share of the cooling fabrics market in 2016. Growth of this segment can be attributed to the growing sportswear market and increasing number of sports enthusiasts around the globe. In sports apparel application, cooling fabrics are used to make T-shirts, headgears, wrist bands, and neck bands, among others.
North America is projected to be the largest market for cooling fabrics by 2021
North America accounted for the largest share of the cooling fabrics market in 2016, followed by Europe. Increasing military expenditure, innovations in cooling fabric products for medical applications, and growing concerns for health and safety of workers are expected to drive the demand for cooling fabrics in the North American market in the coming years. Existing players are planning capacity expansion in the next few years as there is an increasing demand for cooling fabrics from various end-use applications.
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Major market players covered in this report include Ventex (Korea), Nan Ya Plastics (Taiwan), Tex-Ray Industrial Co. Ltd. (Taiwan), Invista (U.S.), Ahlstrom (Finland), Formosa Taffeta Co. Ltd. (Taiwan), Singtex (Taiwan), and Coolcore LLC (U.S.), among others.
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