Sailcloth Market Size, Share, Demand, Revenue & Growth by 2030
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. Increasing number of water sports events such as sailboat championships, sailing shows, and yachts racings organized in counties such as Brazil, the US, Australia, UAE, China, and Ita