At 3.9% CAGR, Asia Pacific Sailcloth Market is Projected to be Worth US$ 40.64 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific sailcloth market was valued at US$ 29.85 million in 2022 and is expected to reach US$ 40.64 million by 2030, registering a CAGR of 3.9% from 2022 to 2030. Growing popularity on competitive sailing events and growing focus on sustainable materials are among the critical factors attributed to drive the Asia Pacific sailcloth market growth.

Competitive sailing, including regattas, races, and championships, has seen a surge in participation globally. This rise in popularity is attributed to factors such as the thrill of competition, the sense of camaraderie among sailors, and the opportunity to showcase sailing skills on a competitive stage. Sailors participating in regattas and races constantly sought a competitive edge over their opponents. A high-performance sailcloth plays a crucial role in this quest, as it directly influences a boat's speed, maneuverability, and overall performance. Sailors are, therefore, inclined to invest in advanced sail materials that offer superior aerodynamics, reduced weight, and increased durability, enhancing their chances of success in competitive events. Events such as the Paris 2024, Los Angeles 2028 Olympic Games, America's Cup, Volvo Ocean Race, Clipper Round the World Yacht Race, and Vendée Globe captivate audiences worldwide. This international interest drives demand for sailcloth that can perform under diverse environmental conditions, from the frigid North Atlantic to the scorching tropics. Organizations such as World Sailing support the training of all sailors, including Para sailors and their coaches, with the World Sailing Inclusive Sailing Development Program (IDP) through several subsidized clinics. In addition, in July 2023, Australian Sailing announced the support of US$ 15 million through the Paris 2024 Olympic & Paralympic Preparation Fund to assist athletes and their sports with significant costs associated with their travel and accommodation to qualifying events overseas. Moreover, the growing reach of competitive sailing events, such as regattas and championships, is attracting diverse participants and spectators. As a result, sailcloth manufacturers are experiencing heightened demand from professional sailors and a growing community of sailing enthusiasts eager to invest in top-tier equipment for recreational use. The rising preference for sailing as a key sporting and recreational activity has encouraged governments and organizations to foster the growth of the maritime industry. This support encompasses financial incentives, infrastructure development, and initiatives that encourage participation in sailing events at various levels. Government funding and sponsorship for sailing events have paved the way for advancements in sailcloth technology. With a broader base of financial support, sailcloth manufacturers can invest in research and development, creating innovative materials that cater to the specific needs of competitive sailors. The financial backing by the government also contributes to the affordability of quality sailcloth, making it more accessible to a wider range of sailing enthusiasts. Organizations dedicated to the promotion of sailing, such as yacht clubs and sailing federations, play a pivotal role in driving the demand for sailcloth. They organize and endorse competitions, creating platforms that attract a growing number of participants. As these events gain traction, the demand for top-tier sailcloth rises as sailors seek cutting-edge materials to gain a competitive edge in their pursuits. The synergy between the growing popularity of sailing events and the increased support from various organizations and governments drives the demand for advanced sailcloth. This positive momentum is benefitting the sailing industry and also contributing to technological advancements that enhance the overall sailing experience for enthusiasts worldwide.    

On the contrary, the high cost of premium sailcloth materials hampers the growth of Asia Pacific sailcloth market.

Based on fiber type, the Asia Pacific sailcloth market is categorized into polyester, nylon, ultra PE, carbon fiber, aramid, and others. The polyester segment held 41.4% market share in 2022, amassing US$ 12.36 million. It is projected to garner US$ 16.43 million by 2030 to register 3.6% CAGR during 2022–2030.

In terms of application, the Asia Pacific sailcloth market is bifurcated into cruising sails and racing sails. The racing sails segment held 61.8% share of Asia Pacific sailcloth market in 2022, amassing US$ 18.45 million. It is anticipated to garner US$ 24.95 million by 2030 to expand at 3.8% CAGR during 2022–2030.

Based on country, the Asia Pacific sailcloth market is categorized into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 32.2% share of Asia Pacific sailcloth market in 2022. It was assessed at US$ 9.60 million in 2022 and is likely to hit US$ 12.65 million by 2030, registering a CAGR of 3.5% during 2022–2030.

Key players operating in the Asia Pacific sailcloth market are Ullman Sails International Inc, Doyle Sails International Ltd, Evolution Sails USA, Wilfer Sails Technology (Heyuan) Co Ltd, Quantum Sails Design Group LLC, Elvstrom Sails AS, North Sails GmbH, Dimension-Polyant GmbH, and Contender BV, among others.

• In February 2022, Quantum Racing and 878 announced a partnership for the 2022-2023 seasons. Quantum Racing will use RedDot award-winning, full graphene technical and life-style products from 878 to improve sailors' performance. The partnership will also benefit from 878's innovative wearable sailing solutions. The Quantum Racing team will be their testbed, with a dozen top-level sailors selected for their expertise, competitiveness, and desire to support the team's goals. 878, a challenger in the sailing industry, focuses on solving new challenges caused by the foiling revolution and increased speed. The partnership aims to move away from the previous 15-year products and embrace the new standard of material and technology innovation in professional sailing.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com