As per a detailed survey conducted by FMI, the global sailcloth market size totaled US$ 400 Million in 2020. The 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 Million 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 US 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.
The increasing number of water sports events such as sailboat championships, sailing shows, and yacht racing organized in countries such as Brazil, the US, Australia, UAE, China, and Italy among others is propelling the demand for sailcloth. In addition to this, the 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 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.
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“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 an FMI analyst.
Key Takeaways from the Sailcloth Market Study
- The US is projected to account for the largest share of 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 of 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 of 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.
Key Drivers
- Increasing demand for 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 countries such as the US, Japan, Brazil, and Australia are increasing the sales of sailboats.
Key Restraints
- The 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 to the growth of the market.
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Competitive Landscape
Companies in the global sailcloth market are seeking to leverage their expertise to launch novel products for a competitive edge over other players. For instance,
- In March 2019, Contender Sailcloth a leading sailmaker and supplier based in Australia, announced the launching of a new range of materials 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 an update to 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:
- DIMENSION-POLYANT GmbH
- Bainbridge International Limited
- Challenge Sailcloth, Inc.
- Contender US
- Doyle Sailmakers
- British Millerain
- Aztec Tents
- IYU Ltd
- North Sails & North Technology Group
- Quantum Sails
More Valuable Insights on Sailcloth Market
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:
Type
- Laminate Sailcloth
- Nylon Sailcloth
- Polyester Sailcloth
Application
- Cruising Sails
- Racing Sails
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- MEA
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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