Cooling Fabrics Market Opportunity: Rising demand from medical and defense applications

Cooling Fabrics Market Opportunity: Rising demand from medical and defense applications

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Cooling Fabrics Market by Type (Synthetic, Natural), Textile Type (Woven, Nonwoven, Knitted), Application (Sports Apparel, Lifestyle, Protective Wearing), Region (North America, Europe, APAC, South America, MEA)

The global cooling fabrics market size in 2020 is estimated to be USD 2.0 billion and projected to reach USD 2.6 billion by 2025, at a CAGR of 6.0% from 2020 to2025. The key factor driving the growth of the cooling fabric market is due to the increasing demand for sports apparel, lifestyle, protective wearing, and other applications. Increasing research and development for cooling fabrics is the main factor anticipated to drive the cooling fabrics market.    

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Demand for cooling fabrics in military applications is rising due to benefits such as temperature regulation, resistance from harmful ultraviolet (UV) rays and pollutants, as well as the protection they provide to wearers in excessive heat exposure. The cooling effect can contribute to the safety as well as the performance of the wearer. Further, cooling fabrics are also are gaining demand in the medical industry for the treatment of heat-related illnesses, infections, and chronic illnesses, which can cause elevated body temperatures and fever. As per the National Health Expenditure Accounts (NHEA), there was an approximate 4.6% rise in US healthcare spending (including hygiene products) in 2019. Such an increase in awareness among individuals in developed regions to enhance their health and the quality of their daily life is expected to accelerate the demand for cooling fabrics in healthcare applications. In some cases, cooling fabrics can also be used to increase blood flow and reduce swelling. These technological advancements in cooling fabrics offer opportunities for manufacturers to strengthen their product portfolios and cater to new markets. 

Based on type, the synthetic segment is projected to lead the cooling fabrics market by 2025

The synthetic type of cooling fabrics is expected to account for the largest share of the cooling fabrics market in 2020. Synthetic cooling fabrics are made from synthetic fibers as raw materials, including nylon, polyester, and spandex, among others. Synthetic fabrics are most suitable for outdoor sports activities that regulate the temperature of the wearer through superior evaporative characteristics. Other than cooling, this type has high strength, high elasticity, and smooth texture, due to which the demand for synthetic cooling fabrics is expected to grow during the forecast period.

The knitted segment is projected to lead the cooling fabrics market by 2025

Based on textile type, knitted cooling fabrics are expected to account for the largest share of the cooling fabrics market in 2020. The knitted textile type has a high degree of elasticity due to the looseness of the fabric yarn when compared to woven fabrics. Knitted fabrics are more comfortable to the wearer due to its properties, such as better breathability, and fit the shape of the body in the best possible way. Thus, knitted fabrics are used majorly for manufacturing sports apparel, which triggers the demand for knitted cooling fabrics during the forecast period.

North America is expected to lead the cooling fabrics market during the forecast period

North America is estimated to account for the largest share of the cooling fabrics market in 2020, 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.Key market players covered in this report include 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), Hexarmor (US) and among others

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