The cooling fabrics market in 2019 is estimated to be USD 2.4 billion and is projected to reach USD 3.7 billion by 2024, at a CAGR of 9.1% during the forecast period. Growth in this market is attributed mainly to the increasing demand for cooling fabrics in sports apparel, lifestyle, and protective wearing.
North America is estimated to account for the largest share of the cooling fabrics market in 2019, followed by Europe and Asia Pacific. The US is one of the significant consumers of cooling fabrics in North America. Increase in technological advancement, R&D investments, and the presence of a wide range of end-use application market drives the North America cooling fabrics market.
Cooling fabrics lowers the body temperature of the wearer when the wearer gets sweaty. Cooling fabrics generally have the property to adapt to the environmental conditions and regulate the temperature of the body by managing heat and moisture. These fabrics distribute the body heat and cool the body by evaporating sweat. The fibers used to make cooling fabrics can pull the sweat and moisture very quickly from the skin and extend the wet area of the surface as much as possible. Major companies operating in the cooling fabrics market are Coolcore LLC (US), Ahlstrom-Munksjö (Finland), NILIT (Israel), Polartec (US), , Nan Ya Plastics Corporation (Taiwan), Tex-Ray Industrial Co., Ltd. (Taiwan), Formosa Taffeta Co., Ltd. (Taiwan), Asahi Kasei Corporation (Japan), and Hexarmor (US), among others.
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In recent times, key companies have adopted various strategies, such as new product launches, expansions, acquisitions, and partnerships. These companies are also investing in R&D activities to strengthen their sales & distribution networks, enhance their market visibility, and strengthen their position in the cooling fabrics market.
Coolcore LLC (US), is one of the leading manufacturers of cooling fabrics. The company is focusing on business expansion strategies such as new product launch and partnership to strengthen its market position and consolidate its financial position in the cooling fabrics market.
- In March 2018, the company launched single strand yarn Fibr-X which possess the same thermoregulation characteristics as the original fabrics. Fibr-X yarn can be woven with other natural and synthetic fibers, which provides some additional characteristics to the final products. With this new product launch, the company strengthened its product portfolio.
- In March 2018, Coolcore LLC partnered with Fuze BioTech, LLC based in Salt Lake City to add nonionic, nontoxic, and molecular alloy technology which will help control the odor from the fabric. This type of fabric also helps in reducing the contact of bacteria with fabric, which reduces odor. With this partnership and its offering, the company would be able to meet the market demand for odor regulated cooling fabrics.
NILIT (Israel) is another key player in the cooling fabrics market. In December 2014, the company acquired the production facilities of INVISTA Americana in Sao Paulo, Brazil that produces nylon 6.6. This acquisition helped the company increase its presence and market share in Brazil and the South American nylon market. Further, the company met the demand for garments in the local market of Brazil.
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