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Cooling Fabrics Market Size, Share Report And Forecast To 2033
Cooling Fabrics Market Size
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According to The Business Research Company's, The cooling fabrics market size has grown rapidly in recent years. It will grow from $2.99 billion in 2023 to $3.29 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased sports and outdoor activities, increased focus on health and comfort needs, environmental sustainability, regulatory compliance, and increased research and development.
The cooling fabrics market size is expected to see rapid growth in the next few years. It will grow to $4.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to increasing focus on apparel and fashion trends, urbanization and heat islands, climate change adaptation, increasing use in medical and healthcare applications, and growing e-commerce and online retail. Major trends in the forecast period include sustainable and eco-friendly fabrics, apparel and fashion trends, innovative research and development, technological advancements, cutting edge technological solutions.
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Market Drivers and Trends:
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 cooling fabrics market growth.
Major firms in the cooling fabrics industry are focused on developing technologically advanced solutions for cooling fabrics. For instance, in January 2022, HeiQ, a UK-based chemicals company, launched the HeiQ Cool, a unique textile technology that offers both instant contact and continuous evaporative cooling. This fabric regulates skin temperature with dual cooling: first, by absorbing melting energy for immediate cooling before sweating, then through vaporizing energy, replicating the skin's natural cooling process for prolonged comfort. This is powered by a biobased thermo-functional polymer that captures heat, providing an immediate cool feeling.
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Major Key Players of the Market:
Coolcore LLC, Ahlstrom-Munksjö Holding, Polartec LLC, Formosa Taffeta Co Ltd., Hong Li Textile Co Ltd, National Institute of Electronics & Information Technology, Tex-Ray Industrial Co Ltd., Asahi Kasei Corporation, Hexarmor, Invista, Adidas AG, Sun Dream Enterprise Co Ltd., Everest Textile Co Ltd., Nanotex LLC, Singtex Industrial Co Ltd., Nike Inc., Nan Ya Plastics Corporation, Balavigna Weaving Mills Pvt Ltd., Burlington Stores Inc., Columbia Sportswear Company, Heiq Materials AG, Lee Yaw Textile Co Ltd., Libolon, Marcel Liebaert Nv, Patagonia Inc., Technical Absorbents Ltd., Tehrani Industrial Group, VF Corporation, Ventex Co Ltd., Wilson Fabrics, Virul International Pvt Ltd.
Cooling Fabrics Market 2024 Key Insights:
• The cooling fabrics market size is expected to see rapid growth in the next few years. It will grow to $4.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
• Rising Sports Apparel Demand Boosts Growth In Cooling Fabrics Market
• Advanced Dual Cooling Textile Technology Is A Key Trend Gaining Popularity In The Cooling Fabrics Market
• North America was the largest region in the cooling fabrics market in 2023
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