Neoprene Fabric Market: Overview
Neoprene is a type of synthetic rubber, which is majorly used to produce various types of utility clothing such as sportswear and activewear. Neoprene fabric offers several advantages such as enhanced grip, bi-stretchable characteristics, and wicking functions; therefore these are preferred by athletes to enhance their performance.
Increasing awareness regarding health and shifting focus toward fitness and sport activities among people are expected to boost the demand for neoprene fabric. Neoprene-based outfits are quick-drying, thermal resistant, and static resistant. These properties propel the demand for neoprene fabric. Moreover, rising consumer interest in sports- & fitness-related activities fueled the sports and fitness apparel industry in last few year. This, in turn, has increased the demand for neoprene fabric.
Neoprene Fabric Market: Key Segments
The neoprene fabric market can be segmented based on type, end-user, and region. In terms of type, the market can be classified into circular knit and polychloroprene rubber. Based on end-user, the neoprene fabric market can be divided into outerwear, ready-to-wear, swim wear & wet suit, and footwear.
The outerwear segment is estimated to expand at significant pace during the forecast period owing to the increase in adoption of athleisure wear as casual clothing and rise in participation in sports. The swim wear & wet suit segment is anticipated to dominate the global neoprene fabric market during the forecast period due to growth in the costal tourism sector, which is expected to generate high demand for swim wears. Holistic approach of consumers, especially the youth, toward activewear is expected to drive the global neoprene fabric market. Surge in the demand for swim wear is anticipated to boost the neoprene fabric market.
Neoprene Fabric Market: Trends & Developments
Increasing disposable income and rising concerns regarding health and fitness are driving the neoprene fabric market. Furthermore, increase in involvement of female consumers in fitness activities is expected to boost the demand for sportswear and activewear. This, in turn, is estimated to increase the demand for neoprene fabric.
High cost involved in development and design of quality neoprene-based performance wear is anticipated to hinder the neoprene fabric market. Furthermore, presence of a large number of substitutes such as nylon, polyester, and spandex is expected to hamper the market during the forecast period. However, rising adoption of green textile and development and implementation of sustainable production processes boost the acceptance of neoprene fabric among consumers, who prefer to use to green textiles.
Neoprene Fabric Market: Regional Outlook
In terms of region, the global neoprene fabric market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The adoption of neoprene fabric as essential raw material for various clothing such as sports and fitness outfits has fueled its use across the world. Moreover, adoption of athleisure wear as a street wear, casual wear, and sportswear in regions such as North America and Europe is expected to boost the demand for neoprene fabric. Rise in health awareness and increase in disposable income among consumers in countries in Asia such as China and India is expected to drive the neoprene fabric market in Asia Pacific.
Neoprene Fabric Market: Key Players
Key players operating in the global neoprene fabric market include Colmant Coated Fabrics, Rivertex Technical Fabrics Group, Fabric House S.R.L., Lomo UK, Sheico Group, Techneopro Ltd., Rip Curl Group Pty Ltd., Xcel Hawaii, Inc. (Boardriders, Inc.), Johnson Outdoors Inc, Brunotti Europe BV, Sky Industries Limited, Active Foam Products, Inc., Auburn Manufacturing, Inc., and Eastex Products, Inc.
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