Global Window Film Market by Application (Commercial, Automotive), by Product (Sun Control, Decorative) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global window film market was valued at USD 10.22 Billion in 2020. It is expected to experience a compound annual growth rate of 5.1% between 2021 and 2028. Market growth is expected to be driven by increasing demand for energy-efficient windows films. Window films can be used for heating and cooling purposes in commercial and residential homes. The U.S. Department of Energy estimates that window films reduce the heat loss through windows and doors in homes by 30%. Window films can be improved to reduce solar heat gain and winter heat loss in commercial and residential buildings. Building Energy Management Systems (BEMS), which are used to efficiently conserve energy and increase energy efficiency, create a stable and sustainable environment for both residential and commercial buildings.

The product demand is expected to rise due to the increasing number of green buildings and the development net-zero energy buildings. The product demand is expected to rise over the next few years due to increasing consumer awareness about sustainability and carbon dioxide emission, as well as improving energy efficiency. The rapid growth of the population in Latin America and Asia Pacific has led to an increase in global carbon emissions.

Product demand will be driven by strict regulations on energy-efficient buildings and vehicles, as well as growing concerns about the environment. Low emissivity (Low E) films are also useful in keeping buildings warm during winter. Special metallic coatings are used in Low-E films to block ultraviolet and infrared rays. They also allow maximum visible light to prevent interior fading in commercial and residential buildings. Window film is a more cost-effective alternative to low-E glass and provides a greater return on investment. It also offers 6.6 times higher energy and cost savings than low-E glasses.

The use of Ultraviolet A (UVA) window film to filter the sun can reduce skin cancer and damage. The growing disposable income of consumers in emerging countries has prompted a demand for fuel-efficient passenger vehicles. This is matched by a rising demand for Electric Vehicles (EVs) which will drive market growth in the coming years. The market growth will be impeded by the strict regulations on tinted film used in automobiles. Low visibility can cause theft and accidents, particularly at night.

A higher VLT rating will provide better glare control, while a lower rating is preferable for natural lighting. The VLT of a widow film plays a crucial role in determining the permissibility for heat protection, UV protection and security concern. The high VLT of window films allows police to pay attention and ensure safety for the public. Drivers and passengers with related medical conditions such as lupus or photosensitivity may be exempted in certain countries. High tint windows can lead to dooring incidents for pedestrians and cyclists due to their low visibility within the vehicle.

Product Insights

Sun control products dominated the market, accounting for over 46% of global revenue in 2020. Sun control window films are used to protect the interiors of buildings. They can also be used to enhance the building's aesthetics. Market growth will likely be driven by the increasing use of sun protection in commercial and residential applications due to the increase in skin diseases. Sun control films are also in demand due to rising energy costs and need to reduce power consumption.

Window films with a lower solar heat gain and winter heat loss will be able to make buildings more comfortable. These films can be used in buildings to prevent the fading of carpets, paints & coatings, as well as furniture. Sun control products will see a rise in demand as a result of rising construction demand in emerging countries like China, India and Japan. These films are used in the automotive industry to reduce solar heat gain and improve styling. It protects interior components such as seats and audio equipment. These are the key factors that will drive the market in the coming years.

Application Insights

The market's largest segment, the automotive application segment, accounted for 35% of global revenue in 2020. The stringent regulations imposed by different governments to improve fuel economy will result in a rise in production of lightweight components. This segment is expected to see an increase in product demand. To prevent flying shards from causing damage, safety and security window films are used for automotive applications. Window films offer superior heat control and UV protection. The overall product demand is expected to increase as a result of European countries like Germany, France and Italy recovering their automobile sectors.

Due to the availability of labor and favorable regulations, major automotive companies have moved their production to countries like China, India and Thailand. The forecast period will see an increase in per capita incomes, which is expected to drive automotive sales. These factors will drive demand for automotive applications.

The fastest CAGR is expected to be seen in the commercial application segment during the forecast period. The rapid urbanization of emerging economies in Asia Pacific, Latin America, and the Middle East is expected to increase product demand for commercial building applications. These regions have a high demand for supermarkets, malls, and stores. This is because consumers tend to only shop at one outlet. These regions have a high level of foot traffic and purchases. As urban areas are near saturation, mall developers will be looking to develop new cities. These factors will likely increase the demand for commercial products.

Regional Insights

North America was the dominant market, accounting for more than 32% of global revenue share in 2020. The region will continue to hold its position as the market leader for the entire forecast period. The key driver of the region's market is the recovery in Canada's residential and non-residential construction sectors. In the United States, lending standards have eased, the market fundamentals for commercial real property continue to improve and funding support is coming in greater numbers from local and state construction bond measures.

These factors will drive the demand to produce a variety of specialized window films for the construction industry, particularly for privacy and solar control. Due to the growing use of clean energy, solar (or sun control) films will continue to rise in demand. Due to continued growth in tourism and hospitality, the commercial construction sector in the region is experiencing rapid development. The Covid-19 pandemic, which caused a slowdown or halt to construction and production activities, shortages of labor, and restrictions in supply & transportation, has negatively affected market growth in 2020.

Market Share Insights & Key Companies

Globally, the market is fragmented by the presence of only a few global and regional players. There is intense competition between the major companies as well as regional players with strong distribution networks, good knowledge of suppliers and regulations. The market is characterized by the quality of its products, the production technology, and the ability to develop new applications. To meet rising product demand, established players concentrate on increasing their production capacity. Eastman Chemical Company, for instance, announced in January 2020 that it would increase its production capacity at Dresden's manufacturing plant in Germany to meet the increasing demand for film coatings and laminating machines. The following are some of the major players in the global market for window films:

• 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.

• Johnson Window Films, Inc.

• Armolan Window Films

• Garware Suncontrol

• Reflective Window Films

Up Market Research published a new report titled “Window Film Market research report which is segmented by Application (Commercial, Automotive), by Product (Sun Control, Decorative), By Players/Companies American Standard Window Film, Armolan Window Films, Reflectiv Window Films, Hanita Coatings RCA Ltd (Avery Dennison Israel Ltd), Garware Suncontrol, Saint-Gobain Performance Plastics Corporation (Solar Gard), Toray Plastics (America) Inc, 3M, Eastman Chemical Company, Madico Inc, Johnson Window Films Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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.

Global Window Film Market Report Segments:

The market is segmented by Application (Commercial, Automotive), by Product (Sun Control, Decorative).

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.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Window Film Market

Overview of the regional outlook of the Window Film Market:

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.

Highlights of The Window Film Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Window Film Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Automotive

                1. Sun Control

                2. Decorative

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 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.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Window Film Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.