Cooling Fabrics Market Industry Leaders & New Revenue Pockets

Cooling fabrics are manufactured by using innovative and technologically advanced spinning processes on fibers (synthetic fibers such as nylon, polyester, and spandex and natural fibers such as jade, cocoa beans, and bamboo fibers). These fabrics provide cooling with a temperature 1-2 ℃ lower than the ambient temperature to the wearer. Cooling fabrics can remove sweat and water from the skin very quickly, thus, providing dryness and coolness.

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Major companies operating in the cooling fabrics market include Ventex (Korea), Nan Ya Plastics (Taiwan), Tex-Ray Industrial Co. Ltd. (Taiwan), Invista (U.S.), Ahlstrom (Finland), Formosa Taffeta Co. Ltd. (Taiwan), Singtex (Taiwan), Nike (U.S.), Adidas (Germany), Puma (Germany), and Coolcore LLC (U.S.), among others.

New product launches and acquisitions are the strategies adopted by key companies in the cooling fabrics market. These companies also invested in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the market.

Invista (U.S.) is one of the leading producers of cooling fabrics and accounted for the largest share in terms of development of the cooling fabrics market due to its customer base and global presence across America, Europe, China, Korea, Japan, and New Zealand and high revenue generated from its fabrics business. In July 2016, the company introduced the next generation of LYCRASPORT technology at the Outdoor Retailer Summer Market in Salt Lake City, Utah. This new technology is introduced to provide comfort, fit, and support for stretchable active wear. This new product will help the company provide sport specific garments, especially for athletes and active consumers to optimize the performance along with a high comfort level. In November 2014, INVISTA opened an applied technology laboratory in Qingpu facility in Shanghai, China. This laboratory is designed to improve product development cycle time, offer enhanced technical services in the region, and provide innovative solutions to the customers working with INVISTA.

Coolcore LLC is another leading producer of cooling fabrics, which are used by major consumer brands across the globe to make athletic apparel and other wicking cloths. In January 2016, the company acquired all assets and intellectual property from Tempnology, a provider of temperature regulated fabrics and technologies. This acquisition helped the company retain a leadership position in the cooling fabrics market. In July 2015, Coolcore LLC partnered with Concept III (U.S.) that develops and manufactures creative performance products and innovative textiles. This partnership helped the companies develop and offer cooling fabrics technology that can cater to the market demand.
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. Cooling garments are used to ensure safety of personnel in workplaces where they are exposed to extreme weather conditions. Cooling garments help remove metabolic heat and prevent heat exchange between the body and environment. Factors, such as 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.

Based on type, the cooling fabrics market has been segmented into synthetic and natural cooling fabrics. The cooling fabrics market is dominated by the synthetic segment, which is also projected to grow at the highest CAGR during the forecast period due to its increasing demand and usage across various industries. Durability of synthetic fabrics and cooling provided by them, which are sometimes not achievable with natural fabrics, lead to their higher market share. Easy availability of raw materials used to make these fabrics is another factor that drives the growth of this segment. Hence, synthetic cooling fabrics are widely used in different end-use industries.

Major applications in the cooling fabrics market include sports apparel, protective wearing, lifestyle, and others. The protective wearing application segment is estimated to be the fastest-growing in the global cooling fabrics market during the forecast period due to the growing demand for cooling fabrics from defense, industrial, and firefighting end-use applications.

The Asia-Pacific cooling fabrics market is projected to grow at the highest rate during the forecast period due to the development in sportswear market, increasing concerns for health and safety, and developing economic conditions in this region. The increasing investments by technical textile manufacturers, availability of cheap labor, and low operational costs are the major drivers for the growth of the cooling fabrics market in this region.

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.