The global cooling fabrics market size was USD 1.86 billion in 2020. The market is projected to grow from USD 1.90 billion in 2021 to USD 2.67 billion in 2028 at a CAGR of 4.9% during the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Cooling Fabrics Market, 2021-2028.”According to our report, the rising amalgamation of the fabric in defense and hospital industries shall further lift the demand. Additionally, the market is anticipated to grow on account of the upsurge in defense spending. This is foreseen to boost the market growth during the forecast period.
Demand for Cool PPE Kits in Hospitals to Magnify Market Growth amid COVID-19 Pandemic
The commencement of pandemic in 2020 led by the COVID-19 virus resulted in worldwide lockdown. The manufacturers were compelled to force shut their productions to limit the transmission of this dreadful virus. Transportation of man and material was restricted, and only essential activities and products were exempted from the regulations. The lockdown norms majorly affected the utilization of the fabric in the sporting apparel sector as the activities were cut short. Nonetheless, considering the pandemic circumstances, the usage of PPE kits has surged. PPE kits can be very uncomfortable due to their inability to ventilation. Therefore, people are getting innovative in order to overcome this inability and help the users be comfortable as well as safe. For instance, in May 2021, an engineering student from Mumbai, India, developed a cool PPE kit called Cov-Tech Ventilation System to help frontline users get rid of the body trapped heat and sweat.
Regional Insights
North America held the maximum cooling fabrics market shares and stood at USD 0.74 billion as of 2020. The growth of the region is credited to the technological developments in the region coupled with the presence of noteworthy end-users. Additionally, the rising demand for cooling fabrics for defense utilization is likely to reinforce the market growth.
Europe is expected to witness a significant growth rate on account of the surging demand from the sportswear and clothing industries. Amplifying the disposition of customers towards functional apparel, combined with rising influencer trends, is likely to affect the market in Europe positively.
The growth of the market in Latin America is associated with the growing disposable income and fluctuating temperature conditions, thus stimulating the market growth.
Competitive Landscape
The competitive landscape of this market is patchy. Corporations are embracing tactics such as acquisitions and collaborations to augment their customer base. Leading players are associating with regional sportswear brands and protective wear producers to institute regional presence. Additionally, key players are concentrating on delivering viable solutions to expand their product range.
List of Key Players Covered in this Market Report
- Coolcore LLC (U.S.)
- Ahlstrom-Munksjö (Finland)
- Asahi Kasei Advanced Corporation (Japan)
- Formosa Taffeta Co. Ltd. (Taiwan)
- Tex-Ray Industrial Co. Ltd. (Taiwan)
- Nan Ya Plastics Corporation (Taiwan)
- Polartec (U.S.)
- NILIT Ltd. (Israel)
- Hexarmor (U.S.)
- Nanostitch (Belgium)
- Other Players
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