The global cooling fabrics market is forecast to reach $3.24 billion by 2025, driven largely by growing attention on fitness, sports, and leisure activities along with increasing health consciousness, says a new report by San Francisco-based market research and consulting company Grand View Research, Inc. Increasing R&D and government incentives are expected to accelerate production of such fabrics.
The market for such fabrics is expected to record a compound annual growth rate (CAGR) of 11.1 per cent from 2017 to 2025, the report disclosed. Value addition offered by cooling garments such as moisture wicking, sweat evaporation, breathability, and ventilation have enhanced the use of such fabrics among athletes.
The demand for such fabrics in military and industrial applications is increasing because of their benefits like temperature regulation, resistance from harmful UV rays and pollutants and protection from excessive heat. The above along with an increased demand from the healthcare and fashion industries is expected to propel market growth.
Sports apparel segment is expected to denote a CAGR of 11.8 per cent from 2017 to 2025 owing to high product demand from developed as well as emerging nations and is expected to account for 44.5 per cent of the international cooling fabrics market in 2025.
These fabrics also address sustainability issues by saving energy required to heat or cool the environment around the wearer. North America is the leading market for cooling fabrics owing to the early adoption and augmenting sports and outdoor activities in the region. Key market players included in the report are Coolcore LLC, Kraton Corporation, Invista, Ahlstrom Corporation, Nilit, Polartec LLC, Nan Ya Plastics Corporation, Tex-Ray Industrial, Formosa Taffeta Co Ltd., HexArmor, Adidas AG and Nike.
