Global solar control window film sales reached USD 505.1 million in 2015. This market is expected to grow at a rate of 6% between 2016 and 2024. Solar control films are used to protect windows from UV rays and infrared radiations.
The market has seen a rise in construction, which is accompanied by superior properties such as energy savings and reducing carbon footprints. The market has seen a rise in demand due to stringent regulations on energy consumption in commercial buildings.
These benefits are not only important, but they also protect the paint and coatings in rooms and cars from the sun-rays. They also provide insulation throughout the year. Due to extreme weather conditions, countries like Brazil, Mexico, India, and India are particularly important for product demand.
The market for solar control window films includes raw material suppliers, manufacturers and distributors. It also includes end-user applications. The market for solar control window films is expected to grow due to the increasing demand from end-use sectors like construction and automotive. The main raw material used in the production of the films is polyethylene terephthalate. Other raw materials include dyes, adhesives, and metals like stainless steel and silver. Due to the existence of many established suppliers and manufacturers, the market for solar control windows films is very competitive.
Polyethylene terephthalate, which was patented in England in 1941 and is the most widely used pollster. It is also a primary material in the production of solar control window film. PET has excellent strength and optical clarity, making it the best material to make solar control window films. PET can also be used to make bottles and other containers. PET can also be recycled to make carpets and clothing fiber. Globally, the PET market has grown due to the growing demand for solar control windows films.
In 2015, the construction sector accounted for more than 50% of the total market. Both the residential and commercial construction industries have seen significant growth due to factors such as industrialization and lenient lending policies. The segment is expected to grow at a rate of 6.2% over the forecast period, following closely by the automotive segment. From 2016 to 2024, the construction segment will experience a 6.2% CAGR. According to the Asian Development Bank (ADB), the Asia Pacific region will invest between USD 8 trillion and USD 9 trillion in new infrastructure activities in 2010-2020, thereby fueling the region's construction industry growth.
In 2015, the automotive industry was second in terms of solar control window film applications. The demand for solar control windows for vehicles has grown due to the growing global automotive industry and rising temperatures. The market may be constrained by strict regulations about the shades of these products.
The largest share of all product types was held by the vacuum-coated solar control window films in 2015. It is expected to grow at a CAGR 6.4% between 2016 and 2024. The product's metal content reflects heat and blocks harmful UV rays. This can cause cancer. These films are more effective at reflecting solar radiation and keep the interiors cool than other films.
Asia Pacific held the largest market share, 34.4%, in 2015's global market. Due to its growing construction sector, it is expected to be the fastest-growing area. Emerging countries like India and China dominate the construction industry in this area. This region will also see a growing automotive industry that will drive demand for solar control windows films.
Due to the growth in construction activity, the Middle East and Africa will see a steady increase in demand for solar control windows films. The slowdown in Europe's construction industry has led to a slower growth in the market for solar control films in this region. Between 2007 and 2009, some countries in Europe like Spain and Greece are still suffering from the effects of the economic depression.
The industry is fragmented due to the presence of many suppliers and manufacturers. 3M Company (U.S.), Eastman Chemical Company, U.S.), Saint-Gobain Limited (France), Garware Polyester Limited Limited (India) are some of the major players. These companies use strategic development to increase their market presence, including mergers and acquisitions, expansions, product developments, agreements, collaborations and joint ventures.
Eastman Chemical Company, for example, announced in September 2013 that it would expand its window film business with a USD 40 million investment in Henry County, California between 2013 and 2016. SolarGard, a Saint-Gobain subsidiary, opened a new manufacturing plant in China for its automotive and construction products segment. The company's presence in China was further strengthened by this expansion.
Johnson Laminating and Coating, Inc., Hanita Coatings RCA Ltd., Sican Co. Ltd., The Window Film Company, Polytronix Inc., and Madico, Inc. are some of the other players.
b. Global solar control window film market was valued at USD 636.3 Million in 2019, and is forecast to grow to USD 674.1 Million in 2020.
What is the market growth for solar control window films?b. Global solar control window films market will grow at a compound annual rate of 6% between 2016 and 2024 to reach USD 849.2 millions by 2024.
Which segment had the largest share of the solar control film market?b. Clear window held 51.1% of the market share in solar control window films in 2019, compared to 51.1% for clear window. Clear window dominated the solar control film market with a share of 51.1% in 2019. This is due to its ability to reflect the most solar radiation and keep the interiors cooler.
What are the major players in the solar control window film marketb. Among the key players in the solar control film market are 3M Company (U.S.), Eastman Chemical Company, U.S.), Saint-Gobain Limited (France), Garware Polyester Limited (India).
What are the key factors that drive the market for solar control window films?b. The market's growth is driven by the ability to protect interiors of buildings or cars from harmful ultraviolet (UV) radiations (IR).
Up Market Research published a new report titled “Solar Control Window Film Market research report which is segmented by Application (Construction, Automotive), by Product (Clear, Dyed, Vacuum Coated), By Players/Companies Eastman Chemical Company (US), Saint-Gobain (France), Garware Polyester Limited (India), 3M Company (US)”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Solar Control Window Film Market Research Report |
By Application | Construction, Automotive |
By Product | Clear, Dyed, Vacuum Coated |
By Companies | Eastman Chemical Company (US), Saint-Gobain (France), Garware Polyester Limited (India), 3M Company (US) |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 208 |
Number of Tables & Figures | 146 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Construction, Automotive), by Product (Clear, Dyed, Vacuum Coated).
Solar Control Window Film Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Solar Control Window Film Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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