Infrastructural development across the world has transformed the industrial scenario. The factors such as changing lifestyles, requirement of energy-efficient homes, need for safety and security are underpinning the growth of the construction industry. Window Films are highly popular in the countries with a mixed climate to provide thermal comfort and it is one of the cost-effective and eco-friendly materials. Considering multiple dimensions of the worldwide market QYR Consulting has lately published a new research report titled, “Global Window Film Market Report, History and Forecast 2014-2025.” According to the report, the global Window Film market is prognosticated to register a sluggish CAGR of 2% during the forecast period of 2019-2025. The market is prophesied to touch the value of US$ 2.85 Bn by the end of 2025 which was around US$ 2.44 Bn in the year 2018.
Protection against ultraviolet rays is the key factor augmenting the demand for solar control Window Films
The global Window Film market is primarily categorized on the basis of product and application. By product the market is further segmented into safety/security film, solar control film, spectrally selective film, and decorative film. Among these products, solar control film segment is foreseen to take a lead in the global Window Film market. These films have residential as well as commercial usage for heat reduction.
As far as applications are concerned, the global Window Film market has various applications such as residential, commercial, automotive, and Others. Automotive segment is likely to hold a key share in the global Window Film market. The automotive industry is widely adopting solar control films because of skin damage associated with UVA and UVB rays passing through car windows.
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Infrastructure development activities in Asia Pacific to drive the Window Film market
North America is likely to hold a strong share in the global Window Film market. Apart from North America, Asia Pacific is also predicted to grow at a faster pace in the global Window Film market. Increase in the constructional activities of commercial buildings like banks, hospitals, offices, schools, colleges, and residential projects has been observed in Asia Pacific for the past few years. Infrastructure development in developing economies like India and China are also contributing well in the global Window Film market growth. Government initiatives for expansion of the construction industry to impact positively for Window Film market growth in Asia Pacific.
The global market is highly dominated by some of the multinational companies.3M, Hanita Coating, Eastman, Lec, KDX Optical Material, Solar Gard, Garware SunControl, Saint Gobain, Wintech, Johnson, Erickson International, Haverkamp, Madico, Sekisui S are some of the leading market participants functioning in the global Window Film market.
Multiple applications of Window Films are making a positive impact on the Window Film market growth
In vehicles, Window Films are used to lower the intensity of sunlight coming directly in the vehicle causes minimizing air conditioner usage and fuel consumption. These factors are projected to boost the Window Films demand in the years to come. These films are available in attractive patterns, designs, and color, thereby consumers are preferring them for home décor as well as for safety and security in homes and offices.
Rising awareness towards energy-efficient buildings and increase in demand for Window Films in end-use industries is driving the growth of Window Film market during the forecasted period. Technological advancements like precision coating, elongated sputtering, and optical multi-layered membrane design are anticipated to support market growth. Nevertheless, lack of consumer awareness about Window Films and guarantee issues could slow down the market growth.
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