- Automotive Applications to Account for More than One-Third of the Window Films Sales through 2031
- The latest study on the window films market conducted by Fact.MR provides insights into market size, dynamics, and taxonomy for the assessment period, from 2021 to 2031. The report reveals key factors fuelling the demand for window films across key market segments in terms of product type and application
NEW YORK, Sept. 16, 2021 /PRNewswire/ -- As per the latest insights from Fact.MR, the global window films market is estimated to expand at a CAGR of more than 5% during the forecast period, from 2021 to 2031.
According to the U.S. Department of Energy, the usage of window films improves the average energy consumption by preventing more than 30% of heat loss that takes place through doors and windows at offices and homes.
Window films assist in blocking ultraviolet (UV) rays, reducing glare, increasing energy efficiency of cooling systems and enhancing the aesthetic appeal of any building. Thus, several commercial property owners and homeowners are increasingly adopting window films, which is in turn is driving the market sales.
Recent advancements in window films technologies such as the launch of spectrally selective films and dual reflective are propelling the demand for window films across commercial and residential applications. Driven by this, the sales of window films are expected to rise by over 1.5X during the assessment period between 2021 and 2031.
Automotive applications are anticipated to account for over 1/3rd of the overall market share by the end of 2031, as per Fact.MR. Rapidly surging automotive production and increasing use of window films for preventing damages caused by flying shards are bolstering the demand across the segment.
"Window film associations such as the European Window Film Association (EWFA) and International Film Association (IFA) are creating a conducive environment for manufacturers by assisting them with knowledge transfer regarding the latest technology and government policies. Besides this, rising number of green building development projects and the construction of net-zero energy buildings will fuel opportunities for the growth of the market in the coming years," says a Fact.MR analyst.
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Key Takeaways from Window Film Market Study
- North America market is projected to account for over 30% of the global sales, driven by increasing demand for window films from automotive applications.
- Favored by increasing number of green building development projects in China, Asia Pacific (APAC) market is expected to project rapid growth, expanding at a CAGR of 6% through 2031.
- The market in Europe is forecast to hold more than 1/4th of the total value share, owing to the presence of supportive association such as the European Window Film Association (EWFA).
- Sun control window films is predicted to account for over 2/5th of market share, on the back of increasing use across automotive and commercial sectors.
- Based on application, residential and commercial applications are estimated to collectively hold around 3/5th of the window films sales by 2031.
Key Drivers
- Growing importance of energy consumption and conservation across the world is expected to spur the sales of window films.
- Increasing investment towards construction of green and energy-efficient building across the U.S., China, and the U.K. will propel growth in the window films market.
- Rising application of sun control and decorative window films across automotive and construction sector is driving the market.
Key Restraints
- Implementation of stringent regulations regarding the use of sun tinted films across automotive sector is hampering sales of window films.
- Constantly changing consumer preference due to adoption of new technologies and implementation of different rules and policies by different countries are posing challenges for market players.
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Competitive Landscape
As per Fact.MR, leading players in the landscape are 3M, Eastman Chemical Company, American Standard Window Film, Solar Gard Performance Plastics, Madico Inc, and Toray Plastics Inc. Key players in the market are focusing on adopting organic expansion strategies such as products developed and innovation. For instance,
- In November 2021, Suntuitive Dynamic Glass, an American company, announced introducing its new product, Suntuitive MonoLite, a dynamic glass, laced with intelligent window films. It is can be deployed in new and old infrastructures due to versatile in its applications.
- Glassware Suncontrol Ltd., Window Film Manufacturer & Window Security Film Suppliers in India, runs pilot plants for manufacturing UV curing films, Environmental Test Chambers, and Differential Scanning Calorimetry to enhance and develop new products.
Some of the key players in the window films market profiled by Fact.MR are:
- 3M
- Eastman Chemical Company
- American Standard Window Film
- Saint-Gobain Performance Plastics Corporation (Solar Gard)
- Madico, Inc.
- Toray Plastics (America), Inc.
- Hanita Coatings RCA Ltd. (Avery Dennison Israel Ltd.)
- Johnson Window Films, Inc.
- Armolan Window Films
- Garware Suncontrol
- Reflectiv Window Films
More Valuable Insights on Window Films Market
Fact.MR, in its new report, offers an unbiased analysis of the global window films market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in window films market with detailed segmentation:
- Product Type
- Sun Control
- Decorative
- Security & Safety
- Privacy
- Polyurethane
- Application
- Automotive
- Residential
- Commercial
- Marine
- Others
- Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Covered in the Window Films Market Report
- The market survey also highlights projected sales growth for window films market between 2021 and 2031
- The report offers insight into window films demand outlook for 2021-2031
- Window films market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Window films market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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