Market Trends of Cooling Fabrics Industry
Increasing Demand from Sportswear Application
- Sportswear is the major application segment for the cooling fabrics market. These fabrics are highly used in sportswear applications owing to their cooling characteristics, excellent strength, high elasticity, and smooth texture.
- Cooling fabrics used in sports apparel provide increased comfort to sports persons during physical activities that are designed for specific sports such as cycling, running, and basketball, among others.
- Further, the increasing focus on sports and personal fitness activities, along with surging technological advancement to develop more efficient cooling fabrics are anticipated to boost the market growth over the forecast period.
- The sports apparel market globally has been growing steadily year on year. The United States has a significantly large sports apparel market. According to the Skills Framework for the Information Age (SFIA), the wholesale sales of athletic apparel accounted for about USD 45 billion, reflecting an increase of 6.4 % in 2022 compared to the previous year.
- Therefore, all such factors mentioned above are expected to play an instrumental role in driving the demand for the cooling fabrics market from the sportswear segment over the forecast period.
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North America to Dominate the Market
- The North American region dominated the global cooling fabric market in terms of demand, owing to increasing consumption of sportswear, protective wear, and apparel, among others.
- The presence of major cooling fabrics manufacturing companies has helped the North American region to develop into the largest market.
- Sports products manufacturers in the United States have been shifting their focus more towards performance-oriented products in order to meet consumer requirements in the country over the past few years.
- In Canada, according to Trendex North America, the market value of the athletic leisure apparel market in the country is forecasted to reach nearly USD 3.6 billion by 2024.
- Further, the United States is a globally competitive manufacturer of textiles, including fabrics, apparel, and other textile-finished products. The United States imports of textiles and apparel have continued to grow in value terms and rose by 16.03% to USD 132.20 billion in 2022, compared to USD 113.94 billion in 2021, as per the latest Major Shippers Report released by the US Department of Commerce.
- Therefore, all such aforementioned factors are expected to have a positive influence on the demand for cooling fabric market in North America over the forecast period.
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