The global solarcontrol window film market is expected to value at USD 849.2 million by 2024. The market is subject to witness a substantial growth due to the growing demand from various end-user sector such as automotive industry, building & construction sector, and marine industry. Soaring demand for solar control window films in green houses and smart homes is expected to boost market demand for solar control window film over the forecast period. Globally, the solar control window films market is predicted to grow at CAGR of 6.2% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
The
growing automobile sector along with the rising consumer awareness, shifting
focus towards regular maintenance of vehicles, and high-end demand for paint
protection in order to avoid high maintenance costs is anticipated to fuel the
growth of solar control window film industry in automotive industry. Moreover,
rapid industrialization, urbanization and ever-growing population is leading to
the rising standards of living and increasing disposable income, thus driving
demand of window films across the globe. Other factors such as increasing
demand for passenger vehicles, particularly in developed economies and rising
per capita income are expected to drive the growth of solar control over the
forecast period.
Solar
control window film prevents 99% of harmful long wave ultraviolet A (UVA) and
short wave ultraviolet B (UVB) radiation. Solar control window film are
produced in variable shades and sizes. The thickness of shade varies
accordingly percentage of variable light transmission, ranging from three to
seventy percent. Prevention of direct sunlight window films entering the
vehicle can damage both leather and interiors of the vehicle. Solar control
window film not only offers protection from direct sunlight but also increase
life span of leather and vehicle interiors.
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The
growing popularity of the sun-controlled window films is attributed to rising
demand from residential and commercial applications coupled with prevention of
potential skin diseases. In addition, adverse atmospheric conditions in
countries such as India, UAE, Brazil, and Mexico is expected to drive the
growth of the sun-controlled window film market over the forecast period.
Direct ultra-violet radiation from the sun is primary cause of the 90% of all
skin cancer. The sun-controlled window films reduces solar heat while
maintaining the sustainable and comfortable environment.
The
solar control window film market is broadly categorized into three major
segments based on the application type such as dyed films, clear films and
vacuum coated films. The dyed films is considered as one of the fastest growing
segment in the solar control window films industry with substantial revenue
generation in the last few years. Growing popularity of the dyed films segment
is attributed to their capability to block incoming heat and also blocks the
harmful UV rays. The vacuum coated films segment has also witnessed substantial
growth owing to the higher market penetration.
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The
solar control window films market is divided by region as North America,
Europe, Asia-Pacific, Latin America and Africa. North America has shown major
growth in recent years owing to the rise in the implementation of latest
technologies in automotive and construction sector, increase in the number of
research & development activities in the region and existence of
well-established industrial infrastructure.
Asia-Pacific
region is predicted to hold major market share in the solar control window film
industry with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with rapid growth in the
automotive and construction industries, lucrative business environment, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the solar control window films industry are the 3M Company,
Eastman Chemical Company, Madico, Inc., Toray Plastics, Inc., Hanita Coatings
RCA Ltd., Johnson & Johnson Co., Armolan GmbH, Rayno Window Film Ltd.,
Suntek Energy Systems Pvt., Ltd., Reflectiv SAS, and Nexfil Co., Ltd.
Market
Segment:
Product
Outlook (Volume, Million Square Feet; Revenue, USD Million, 2013 - 2024)
• Dyed Films
• Clear Films
• Vacuum Coated Films
Application
Outlook (Volume, Million Square Feet; Revenue, USD Million, 2013 - 2024)
• Construction
• Automotive
• Others
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