The global cooling fabrics market is moderately consolidated in nature owing to presence of few large companies who are holding a majority share of the overall market. It has been duly noted that small players are looked as small threat to major players in the market. There are some players in the market who exclusively provide specialty fiber to manufacture cooling fabrics. These players can have an integrated business structure and can have a production rate based upon their requirements. These players can expand their sales and distribution network across regions in order to have strong foothold in the untapped areas. Apart from these, entry of new players in the market during the forecast period is estimated to help market grow. This is likely to intensify the market competition. Some of the key players in the market are HexArmor, Polartec, Invista, Ahlstrom Corporation, and Coolcore LLC.Rise In Per Capita Expenditure to Bolster Market Growth
One of the major reason favoring the global cooling fabrics market is the significant rise in rise in per capita expenditure particularly in the developing countries. The incessant growth in population and rapid advancement in technologies have made people exposed to several promotions and advertisements. Rise in spending power on luxury items such as branded apparel, technical textiles, and designer clothing is likely to play a pivotal role in the market growth. Rapid urbanization, growing trend for branded clothing, and improvement in lifestyle of consumers, and rising awareness about high end technology are helping the market to reach new heights.
Extensive research and development of new technologies is considered to be a key factors pushing the textile industry to grow. Improving economic conditions of various regions is pulling bulk of foreign investors. This means funds flow for research and development activities increases which will help to enhance the quality of cool fabrics. It has been found that in developing countries, the manufacturing and labor costs are low, which is likely to push these regions to increase their production rates.
According a research done by Transparency Market Research, the global cooling fabrics market is likely to expand at a robust CAGR of 10.5% during the assessed period. The market which was valued at US$1.92 bn in 2017 is anticipated to reach a whopping valuation of US$ 4.64 bn by the end of the tenure period. On the basis of end-user, the market is segregated into medical, bedding/mattress, protective clothing, lifestyle, sports apparel, and others. Of these, sports apparel segment is witnessing a strong demand due to rise in physical and sports related activities all across the world. On the basis of geography, the market is segregated into Europe, North America, Middle East and Africa, Asia Pacific, and Latin America. Of these, Europe held the major share owing to rise in sports related activities and change in lifestyle. Countries in Europe such as France, U.K, and Germany are likely to contribute the most. However, Asia Pacific is likely to witness a rise in demand during the assessed period.
The global market for cooling fabrics has been segmented as follows:
Cooling Fabrics Market, by Product
- Nylon Blend
- Polyester Blend
Cooling Fabrics Market, by Textile Type
Cooling Fabrics Market, by Technology
- Cooling Finishes
- Polymer Coatings
- Specialty Fibers
Cooling Fabrics Market, by End-user
- Protective Clothing
- Sports Apparel