The global cooling fabrics market size is expected to be worth $3.24 billion by 2025, propelled by growing focus on fitness, sports, and leisure activities coupled with increasing health consciousness, according to a new report. Increasing research and government incentives are projected to accelerate production of such fabrics, thereby triggering demand.
The market for such fabrics is expected to record a compound annual growth rate (CAGR) of 11.1% from 2017 to 2025, the report by San Francisco-based based market research and consulting company Grand View Research, Inc, said. Benefits offered by cooling garments like 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 exposure. The augmenting demand from healthcare and fashion industries is likely to accelerate the market growth, a press release from the company said citing the report.
Sports apparel segment is expected to denote a CAGR of 11.8% from 2017 to 2025 owing to high product demand from developed as well as emerging nations and may account for 44.5 per cent of the global cooling fabrics market in 2025.
The North American market for such fabrics was valued at $557.7 million in 2016 and is likely to witness a significant development on account of rising demand in sports apparel as well as protective wear applications.
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 Ltd, Polartec LLC, Nan Ya Plastics Corporation, Tex-Ray Industrial Co Ltd, Formosa Taffeta Co Ltd, HexArmor, Adidas AG and Nike.