Cooling Fabrics Market expected to reach USD 2.94 billion by 2021
NEW YORK, May 15, 2017 /PRNewswire/ -- Highlights
• Cooling fabrics market is projected to reach USD 2.94 billion by 2021.
• The cooling fabrics market was valued at USD 1.80 billion in 2016 and is projected to reach USD 2.94 billion by 2021, at a CAGR of 10.3% from 2016 to 2021.
• The growth of the cooling fabrics market is mainly attributed to the growing demand from sportswear and protective wearing market applications.
• The synthetic cooling fabrics segment is expected to witness the highest growth from 2016 to 2021
• Based on type, the synthetic cooling fabrics segment leads the cooling fabrics market. The growth of the segment can also be attributed to the increasing demand for synthetic cooling fabrics from various end-use applications, such as -protective wearing and sports apparel.
Cooling fabrics market is projected to reach USD 2.94 billion by 2021
The cooling fabrics market was valued at USD 1.80 billion in 2016 and is projected to reach USD 2.94 billion by 2021, at a CAGR of 10.3% from 2016 to 2021. The growth of the cooling fabrics market is mainly attributed to the growing demand from sportswear and protective wearing market applications. Innovations in the textile industry and demand for new garments that provide long lasting cooling effect are also expected to drive the cooling fabrics market in the coming years. The major restraints for the cooling fabrics market are the high manufacturing cost of cooling fabrics and low market penetration and awareness of cooling fabrics among end users.
The synthetic cooling fabrics segment is expected to witness the highest growth from 2016 to 2021
Based on type, the synthetic cooling fabrics segment leads the cooling fabrics market. The growth of the segment can also be attributed to the increasing demand for synthetic cooling fabrics from various end-use applications, such as -protective wearing and sports apparel. Durability and cooling provided by these fabrics drive their demand. Easy availability of raw materials used to make synthetic cooling fabrics is another factor driving the growth of this segment.
The sports apparel segment estimated to be the largest segment of the cooling fabrics market
Based on application, the cooling fabrics market has been segmented into sports apparel, protective wearing, and lifestyle, among others. The sports apparel segment is estimated to be the largest segment from 2016-2021 due to the growing sportswear market and the increasing number of sports enthusiasts across the globe. The above factors are anticipated to drive the cooling fabrics market for sports apparel application in the coming years.
The market in North America is projected to witness the highest growth during the forecast period
The North America cooling fabrics market is anticipated to witness the highest growth between 2016 and 2026. The region is a major consumer of cooling fabrics, which are used in various applications, such as sports apparel, protective wearing, and lifestyle, among others. The North American region led the cooling fabrics market in 2016 due to the increased demand from defense and sports apparel applications. The above factors, along with development of manufacturing processes and increasing investments to reduce product cost, are the major drivers for the North American cooling fabrics market. Demand for cooling fabrics is increasing in several countries, such as the U.S., Canada, and Mexico of the North American region.
Breakdown of profile of primary participants:
By Company Type: Tier 1 10%, Tier 2 40%, and Tier 3 50%
By Designation: C Level 45%, Director Level 23%, and Others 32%
By Region: Europe 21%, North America 16%, Asia-Pacific 53%, and Middle East & Africa 10%
Major market players covered in the report are Ventex (Korea), Nan Ya Plastics (Taiwan), Tex-Ray Industrial Co. Ltd. (Taiwan), Invista (U.S.), Ahlstrom (Finland), Formosa Taffeta Co. Ltd. (Taiwan), Singtex (Taiwan), and Coolcore LLC (U.S.), among others.
Research Coverage
This report offers an overview of the trends, drivers, and challenges with respect to the cooling fabrics market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the cooling fabrics market based on type, application, and region. A detailed analysis of leading players along with key growth strategies adopted by them is also covered in the report.
Reasons to buy the report
This report covers the following key aspects:
What will be the market size by 2021 and what will be the growth rate?
What are the key market trends?
What are the factors expected to drive the growth of the market?
What are the challenges that impact market growth?
Who are the key players in this market?
Global report covers key regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and South America, including major countries in these regions, such as the U.S., China, India, Russia, and Germany
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