Mexico Marine Vinyl Market Size & Outlook, 2024-2030
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Mexico marine vinyl market highlights
- The Mexico marine vinyl market generated a revenue of USD 3.5 million in 2023 and is expected to reach USD 4.9 million by 2030.
- The Mexico market is expected to grow at a CAGR of 4.9% 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 3.5 million |
| Market revenue in 2030 | USD 4.9 million |
| Growth rate | 4.9% (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, Mexico accounted for 1.0% 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 North America, U.S. marine vinyl market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 100.5 million by 2030.
Cruise ships was the largest segment with a revenue share of 34.29% in 2023. Horizon Databook has segmented the Mexico 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 marine vinyl market in Mexico is projected to grow at a significant rate over the forecast period, owing to the flourishing marine tourism industry. The Ministry of Tourism of Mexico states that by the end of 2024 around 40 million people are expected to travel to Mexico, which will be a 25.7% increase compared to 2019. The tourists are also expected to increase the number of marine recreational activities in areas like Quintana Roo, Baja California Sur, Nayarit, and Cozumel.
Yacht excursions are also one of the popular recreational activities in Mexico. For instance, visitors in Mexico often visit Los Cabos, a meeting point of the Pacific Ocean and the Sea of Cortez, for staying on a yacht. The growing popularity of such recreational activities in Mexico is expected to propel the demand for marine vinyl market over the coming years.
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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 |
Mexico marine vinyl market size, by yachts, 2018-2030 (US$M)
Mexico Marine Vinyl Market Outlook Share, 2023 & 2030 (US$M)
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