China Marine Vinyl Market Size & Outlook, 2024-2030
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China marine vinyl market highlights
- The China marine vinyl market generated a revenue of USD 3.6 million in 2023 and is expected to reach USD 5.5 million by 2030.
- The China market is expected to grow at a CAGR of 6% 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 3.6 million |
| Market revenue in 2030 | USD 5.5 million |
| Growth rate | 6% (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, China accounted for 1.1% 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 36.11% in 2023. Horizon Databook has segmented the China 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.
The rising disposable incomes of middle-class population in China are leading to higher spending on leisure and recreational activities, including boating and yachting. China’s government has also been actively supporting the development of marine and boating industry through favorable policies, infrastructure investments, and promotion of maritime leisure activities.
In May 2024, the government announced to promote the cruising sector by building a cruise ship domestically. Moreover, in August 2022, the Ministry of Industry and Information Technology (MIIT) along with the Ministry of Finance (MOF), the National Development and Reform Commission (NDRC), the Ministry of Culture and Tourism (MCT), and the Ministry of Transport (MOT) released ‘Guidelines on Accelerating the Development of Cruise and Yacht Equipment and the Industry’.
This is expected to accelerate the development of yacht industry in China. Therefore, such promotional activities in the country are expected to support the growth of the marine vinyl market.
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Marine Vinyl Market Scope
Marine Vinyl Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Nassimi | View profile | 11-50 | New York, New York, United States, North America | https://www.nassimi.com |
| Spradling International | View profile | 1001-5000 | Pelham, Alabama, United States, North America | https://spradlingvinyl.com |
| BZ leather | View profile | 51-100 | Dongguang, Guangdong, China, Asia | https://www.bzleather.com |
| Reliatex | View profile | 51-100 | Tampa, Florida, United States, North America | https://www.reliatex.com |
| Morbern | View profile | 251-500 | Cornwall, Ontario, Canada, North America | https://morbern.com |
| Richloom Fabrics Group | View profile | 251-500 | New York, New York, United States, North America | https://richloom.com |
| Charlotte Fabrics | View profile | 11-50 | Minneapolis, Minnesota, United States, North America | https://www.charlottefabrics.com/ |
| Swavelle | View profile | 51-100 | New York, New York, United States, North America | https://swavellehospitality.com |
| Sunbrella | View profile | 1001-5000 | Burlington, North Carolina, United States, North America | https://sunbrella.com |
| Ultrafabrics Holdings Co Ltd | View profile | 331 | 3-20-6 Myoujin-cho, Hachioji First Square, 6th Floor, Hachioji-shi, Tokyo, Japan | https://www.ultrafabricshd.co.jp |
| Uniroyal Global Engineered Products Inc | View profile | 294 | 1800 2nd Street, Suite 970, Sarasota, FL, United States, 34236 | https://www.uniroyalglobal.com |
| OMNOVA Solutions, Inc. | View profile | 1001-5000 | Fairlawn, Ohio, United States, North America | http://www.omnova.com |
| Herculite Products Inc | View profile | 51-100 | Emigsville, Pennsylvania, United States, North America | http://herculite.com |
China marine vinyl market size, by end use, 2018-2030 (US$M)
China Marine Vinyl Market Outlook Share, 2023 & 2030 (US$M)
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