Future Market Insights (FMI) has conducted an exhaustive analysis of the sailcloth market. The report highlights factors favoring the sales of sailcloth around the world. It also provides exclusive insights into factors fuelling the demand across diverse market segments based on type, and application.
DUBAI, U.A.E, Nov. 11, 2021 /PRNewswire/ -- Future Market Insights (FMI), Dubai: As per a detailed survey conducted by FMI, the global sailcloth marketsize totaled US$ 400 Mn in 2020. Versatility of sailcloth and consequent applications in manufacturing rucksacks, backpacks, and others is propelling the demand in the market. In response to this, the sailcloth market is projected to surpass US$ 500 Mn in the next five years.
A swift increase in marine automotive vehicles such as yachts, sailboats, and others is witnessed owing to the ongoing trend of luxury traveling and recreational activities. According to a report by the National Marine Manufacturers Association, around 4,800 new sailboats were sold across the U.S. alone in 2019. This rise in sales of marine vehicles is expected to propel the demand for all its components including sailcloth in the coming years.
Increasing number of water sports events such as sailboat championships, sailing shows, and yachts racings organized in counties such as Brazil, the U.S., Australia, UAE, China, and Italy among others is propelling the demand for sailcloth. In addition to this, growing popularity of sailcloth for making tents and decorative hangings used in various events, owing to its ability to create a beautiful ambiance, is expected to create lucrative sales opportunities in the market.
On the basis of applications, the cruising sails segment is anticipated to outpace the racing sail segment, accounting for the more than half of the sales in the market. The primary factor driving the growth in the segment is the increasing demand for cruising sailboats and surging applications of sailcloth in cruising sailboats.
"Leading manufacturers are emphasizing on adopting novel blending technologies to develop smart materials with impressive strength-to-weight ratio and heat resistance that cater to the increasing demand for high durability fabric. This is expected to favor the growth in the market," says a FMI analyst.
Key Takeaways from SailclothMarket Study
The U.S. is projected to account for the largest share in the North America market.
Italy, being one of the leading manufacturers and exporters of marine automotive vehicles, is anticipated to account for a considerable share in the Europe sailcloth market.
China sailcloth market is forecast to register the fastest growth in East Asia owing to the rising number of recreational sports activities and spurring sales of luxury sail yachts.
The UAE market is estimated to account for a significant share in the Middle East and Africa, favored by the increasing trend of luxury cruising in the country.
The nylon sailcloth segment is expected to continue dominating the market, driven by its high flexibility and tensile strength compared to sailcloth.
Increasing demand high performance and advanced synthetic fabrics made using a combination of Kevlar, Dyneema, and nylon to provide high durability and tensile strength is expected to spur the sales of sailcloth.
Government initiatives undertaken to promote tourism and recreational activities in counties such as the U.S., Japan, Brazil, and Australia is increasing the sales of sailboats.
High cost of sailcloth compared to conventional fabrics is restricting its sales for use in making tents and backpacks.
Poor biodegradability of sailcloth and high emission of toxic substances are primary factors posing a challenge for the growth in the market.
Companies in the global sailcloth market are seeking to leverage their expertise to launch novel products for competitive edge over other players. For instance,
In March 2019, Contender Sailcloth a leading sailmaker and supplier based in Australia, announced launching a new range of material named, Fibercon, a hybrid marine fabric with high resistance to wear and tear.
In February 2016, Bainbridge International, one of the leading sailcloth manufacturers in the world, announced updated its existing sailcloth range by introducing a woven sailcloth named HSX. The product launch was aimed to expand the company's product portfolio to meet the growing global demand for sailcloth.
Some of the key players operating in the market profiled by FMI are:
FMI, in its new report, provides a detailed analysis of the global sailcloth market and also forecast the demand-sales statistics for the assessment period 2021 and 2031. The survey reveals growth projections in sailcloth market with detailed segmentation:
Key Questions Covered in the Report
The report offers insight into sailcloth market demand outlook for the forecast period 2021-2031
The market study also highlights projected sales growth for sailcloth market between 2021 and 2031
Sailcloth market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Sailcloth market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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