Singapore Marine Vinyl Market Size & Outlook, 2023-2030
Singapore marine vinyl market, 2018-2030 (US$M)
Related Markets
Singapore marine vinyl market highlights
- The Singapore marine vinyl market generated a revenue of USD 1.7 million in 2023 and is expected to reach USD 2.5 million by 2030.
- The Singapore market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, cruise ships was the largest revenue generating end use in 2023.
- Sport Boats is the most lucrative end use segment registering the fastest growth during the forecast period.
Marine vinyl market data book summary
| Market revenue in 2023 | USD 1.7 million |
| Market revenue in 2030 | USD 2.5 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Cruise ships |
| Fastest growing segment | Sport Boats |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Yachts, Cruise Ships, Sport Boats, Other End Uses |
| Key market players worldwide | Herculite Products Inc, Uniroyal Global Engineered Products Inc, Ultrafabrics Holdings Co Ltd, Sunbrella, Swavelle, Charlotte Fabrics, Richloom Fabrics Group, Morbern, OMNOVA Solutions, Inc., Reliatex, BZ leather, Spradling International, Nassimi |
Other key industry trends
- In terms of revenue, Singapore accounted for 0.5% of the global marine vinyl market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan marine vinyl market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 9.0 million by 2030.
Cruise ships was the largest segment with a revenue share of 35.29% in 2023. Horizon Databook has segmented the Singapore marine vinyl market based on yachts, cruise ships, sport boats, other end uses covering the revenue growth of each sub-segment from 2018 to 2030.
Singapore's premier waterfront developments, such as Marina Bay and Sentosa Cove, host numerous high-end yachts and recreational boats at its waterfront. The presence of yacht clubs in Singapore has led to a high demand for premium and durable marine vinyl for these luxury boats.
Moreover, Singapore expanded its port facilities with the Tuas Mega Port project, incorporating durable and high-quality materials for infrastructure, including marine vinyl for boat fenders, seating, and protective covers.
The growth of luxury yacht charter services for tourists and corporate events increases the demand for durable and stylish marine vinyl to ensure a premium experience. Furthermore, the annual Singapore Yacht Show showcases the latest in luxury yachts and boating equipment. This drives awareness and demand for high-quality marine materials, including marine vinyl, thereby supporting the market growth.
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Marine Vinyl Market Scope
Marine Vinyl Market Companies
| Name | Profile | # Employees | HQ | Website |
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Singapore marine vinyl market size, by end use, 2018-2030 (US$M)
Singapore Marine Vinyl Market Outlook Share, 2023 & 2030 (US$M)
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