Cooling Fabrics Market - Forecast(2023 - 2028)

The Cooling Fabrics Market size is projected to reach US$2.5 billion by 2027, after growing at a CAGR of 8.5% during the forecast period 2022-2027. Cooling fabrics help to maintain a comfortable body temperature during hot weather and physical performance. The cooling fabrics industry is based on a cooler microclimate to remove heat between humans and the environment. The major factor for producing cooling fabrics include fabric construction and weight, moisture management, mesh panels and air vent and fitting of the garments. The synthetic cooling fabrics segment is the largest type used in this market which includes nylon, polyester, linen and rayon. According to the Ministry of Industry and Information Technology, from January to September 2021, the combined operating revenue of 12,557 major Chinese garment companies was US$163.9 billion, showing a 9% increase. Thus, the growth of the textile industry is propelling market growth. Many industries across the globe have faced several challenges due to the COVID-19 pandemic. According to Cotton Textile Export Promotion Council, in 2020, the textile and garment export of India was US$29 billion showing a 13% decrease compared to US$34 billion in 2019. With the pause in industrial production and distribution, the demand and consumption of the cooling fabrics market have been hampered to an extent.

Report Coverage

The “Cooling Fabrics Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Cooling Fabrics industry.

Key Takeaways

• The North American region is expected to augment the growth of the target market, owing to the high demand for cooling fabrics in sports and lifestyle. The presence of major cooling fabrics manufacturers such as Coolcore LLC, Polartec and Hexarmoris projected to drive the growth of the market.
• The notable use of synthetic fabrics is expected to provide significant growth opportunities to increase cooling fabrics market size in coming years. Synthetic fabrics materials include nylon, polyester, rayon and spandex. According to Textile Exchange, more than 65% accounted for synthetic fiber in the global fiber production market. 
• The increasing demand for knitted fabric in a range of applications, such as fashion and apparel. Knitted fabric is having a high degree of elasticity and is more comfortable compared to others fabrics.
• Growing demand for cooling fabrics in sports apparel is the key factor accelerating the market growth as it easily eliminates sweat from wearable clothes and shoes.

Cooling Fabrics Market Segment Analysis – by Type

The synthetic segment held the largest Cooling Fabrics Market share in 2021, followed by natural fabrics and is estimated to grow at a CAGR of 6.5% during the forecast period 2022-2027. Synthetic fabrics such as nylon, polyester and rayon are fibers made through chemical synthesis. The synthetic fabrics market shows growth across the globe as growth in sports apparel and protective wearing. Thus, the growth in applications with the use of synthetic fabrics is boosting the growth and is expected to account for significant cooling fabrics market share.

Cooling Fabrics Market Segment Analysis – by Application

The sports apparel segment is expected to grow at the fastest CAGR of 6.7% during the forecast period in the Cooling Fabrics Market. Sports apparel application is growing due to growth in health awareness and the rise in adoption of fitness activities which include running, swimming, aerobics and yoga. Cooling fabrics protect sports people from the environment by keeping the body cool, driving the demand for the sports apparel fabrics market. Nylon, polyester and rayon are commonly used in sports apparel. According to the India Brand Equity Foundation, the Indian sporting apparel market was US$14 billion in 2020 and is expected to reach an estimated value of US$21 billion by 2023 with a CAGR of 14.5%. Thus, the growth in sports apparel applications is boosting the growth of the cooling fabrics market.

Cooling Fabrics Market Segment Analysis – by Geography

North America held the largest Cooling Fabrics market share in 2021 up to 36.2%. Cooling fabrics is an innovative product that provides cooling, warmth, feels comfortable, circulation of evaporation and regulates evaporating and soft texture. Growing physical activities and sports in the USA is the key driving factor for the growth of cooling fabrics in the North American market. After the 2020 pandemic, the demand for fitness, sports and leisure activities is rising due to health awareness among the population. For instance, according to the World Federation of Sporting Goods Industry, the United States contributed around 36% to the global sportswear market. Thus, the growth in North American sportswear in this region also boosts the growth of the cooling fabrics market.

Cooling Fabrics Market Drivers

Growth in Sporting Apparel Market:

Sportswear or apparel includes clothing and footwear, worn for physical or sports exercise. People are adopting physical activities for health-conscious such as cycling, exercising, yoga and other sports to stay healthy. The rising number of health-conscious people/ population leads to interest in sports and will drive the demand for different types of sporting goods and equipment which will ultimately lead to rising demand in the cooling fabrics market. For instance, according to China’s Ministry of Industry and Information Technology, in 2020, textile and garment exports from China increased by 9.6% to US$291.22 billion. Also, according to the US Department of Commerce, in January-September 2021, apparel exports increased by 28.94% to US$4.385 billion, while textile mill products rose 17.31% to US$12.365 billion. Thus, the global growth in demand for sporting apparel is propelling the growth and is expected to account for a significant share of the cooling fabrics market size.

Government Encouraging Participation in Sports:

Government support is becoming a crucial role in healthier and getting involved in sports. Also, by promoting young talent, countries are hoping to assist a more active lifestyle that will have far-reaching positive effects. This will drive the growth of the cooling fabrics industry. There is a rising number of sporting events across the globe and these activities are projected to encourage more people to participate in various sports, thus propelling demand for fabrics in sports as well as cooling fabrics market. For instance, India’s International Olympic Committee launched the first Olympic Value Education Programme (OVEP) at Odisha, India. This will help children to learn sports with education and it facilitated around 32,000 children to enroll in 90 schools in the first year of commencement. Thus, the government encouraging sports is boosting the growth of the cooling fabrics industry.

Cooling Fabrics Market Challenge

High Material Cost and Low Penetration:

The key challenges preventing the growth of the cooling fabrics market are high cost, domination of traditional fabrics in sports, lifestyle and protective wearing, particularly in developing and under-developed countries is hampering growth of the cooling fabrics market. The cost of cooling fabrics is more when compared to the normal wear fabrics. As per textile technology, the cost of cooling fabrics is more than double as compared to standard fabrics as it needs research and development and lightweight materials for manufacturing cooling fabrics. Low penetration in the cooling fabrics market due to lack of awareness and resources within the industry, particularly in developing nations. Thus, the adverse impact of the cooling fabrics industry may hamper the market growth.

Cooling Fabrics Industry Outlook

The top 10 companies in the Cooling Fabrics Market are -

1. Tex-Ray Industrial
2. NILIT
3. AHLSTROM-MUNKSJÖ
4. Nan Ya Plastics
5. Formosa Taffeta
6. Coolcore LLC
7. Polartec
8. Hexarmor
9. Nanostitch
10. Asahi Kasei Corporation

Recent Developments

• In April 2022, LifeLabs launched a cool T-shirt with sustainable fabric. This T-shirt is made from recycled materials which makes them more effective in cooling with less environmental impact. 
• In May 2020, H&M launched a new collection based on Coolmax technology. This new collection wicks moisture and keeps the body dry and cool. The Coolmax technology allows air to pass and move the moisture from the fabric.
• In December 2020, Brr launched Brr Pro, a cooling fabric. This product is specially made for the athletic and fitness market. This product helps to athletes to perform their best and speedy recovery.

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