Cooling Fabrics Global Market Report 2021: COVID-19 Impact and Recovery

Major players in the cooling fabrics market are Coolcore LLC, Ahlstrom-Munksjö, , Formosa Taffeta Co. Ltd., Hong Li Textile Co. Ltd, Nilit, Tex-Ray Industrial Co. Ltd., Formosa Taffeta Co. Ltd., Asahi Kasei Corporation, Hexarmor, Invista, Adidas AG, Sun Dream Enterprise Co. Ltd, Everest Textile Co. Ltd, Nanotex LLC, Singtex Industrial Co. Ltd, and Nike Inc.

The global cooling fabrics market is expected to grow from $1.99 billion in 2020 to $2.35 billion in 2021 at a compound annual growth rate (CAGR) of 18.4%. The growth is mainly due to the growing heath consciousness and thus the increasing participation in regular exercise and sports which increases demand for cooling fabrics based sportswear. The market is expected to reach $3.44 billion in 2025 at a CAGR of 9.9%.

The cooling fabrics market consists of sales of cooling fabrics by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing cooling fabrics. Cooling fabrics are practical fabrics that keep the body temperature at a reasonable level during hot weather and physical activity.

The main types of cooling fabrics are synthetic cooling fabrics, natural cooling fabrics. Synthetic cooling fabrics are manufactured using synthetic fibers such as polyester, spandex, and nylon. Synthetic fabrics are considered as more suitable for outdoor sports activities as it regulates the body temperature of the wearer through its superior evaporative characteristics. Natural cooling fabrics are manufactured using natural fibers like cotton, chambray and linen which allows for air flow and circulation in and out of the fabric. The various types of textile include woven, nonwoven, knitted, others. The cooling fabrics are used in different areas including sports apparel, lifestyle, protective wearing, others.

North America was the largest region in the cooling fabrics market in 2020. Asia Pacific is projected to record fastest growth over the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Scarcity of raw material and labor in the cooling fabrics industry has led to the increase in retail prices lowering the demand for these apparels. Retailers limited the order of garments that required scarce raw material, as they had to pay a higher price. For example, in India, the low availability of cotton due to low water availability, high incidence of pest attacks, and inadequate south-west monsoon, compelled the retailers to increase the prices of cotton apparel as they had to pay a higher price to the manufacturers for procurement. This increase in prices affected the demand for cotton, which in turn impacted the natural cooling fabric manufacturing market.

In June 2019, Milliken & Company, a USA-based manufacturer of textile expertise signed an agreement to acquire Polartec, LLC for an undisclosed amount. The acquisition aims at expanding the product portfolio of Milliken & Company with the addition of Polartec outdoor and fleece textiles expertise. Moreover, the acquisition enables the company to deliver access to a range of performance textiles for industrial workers, consumers, and military personnel worldwide. Polartec, LLC is a USA-based manufacturer of sustainable and innovative textile solutions.

The increasing demand for sports apparel is projected to propel the growth of the cooling fabrics market in the coming years. Sportswear is clothing that is worn during strenuous athletic tasks such as working out or engaging in sports. Sportspeople tend to wear outfits made of cooling fabrics to stay dry when on the field, which enables the wearer to be more relaxed and thus aids success in sporting events. For instance, the global sports apparel industry revenue is expected to increase from $181 billion in 2019 to $208 billion by 2025. Therefore, the increasing demand for sports apparel drives the growth of the cooling fabrics market.

Major firms in the cooling fabrics industry are focused on developing technologically advanced solutions for cooling fabrics. For instance, in December 2020, Brrr, a cooling fabric innovator, has launched the Brrr Pro, an innovative performance textile with improved cooling fibers loaded with micro cooling minerals, as well as hyper wicking and quality drying, all of which operate together to enhance the triple chill effect for optimal comfort and a unique experience. In another instance, in 2019, The University of Maryland developed a new fabric which automatically warms or cools as needed using specially-engineered yarn created with fibers made of two different synthetic materials. The strands are coated with carbon nanotubes and the fibers expand and contract when the temperature changes.

The countries covered in the cooling fabrics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.