The global window films market size is anticipated to reach USD 3.7 billion by 2026, exhibiting a CAGR of 6.09% during the forecast duration 2019-2026, owing to the rising demand from the building and construction industry worldwide. Window films are applied to the interior surface of windows in home settings, vehicles, and commercial buildings. They help to reduce the entry of solar heat into vehicles or houses further helping to maintain the overall interior temperature and avoid hot spots. Such advantages provided by these films are likely to spur demand for window films, thus promoting the window film market trends.
A report published by Fortune Business Insights™ titled, “Window Films Market Size, Share & Industry Analysis, By Type (Sun Control Films, Decorative Film, Safety & Security Film, Privacy Film, and Others), By Application (Automotive, Building & Construction, (Residential and Commercial), Marine and Others), and Regional Forecast, 2019-2026,” provides a detailed analysis of the market and its prime growth trajectories. As per this report, the market was valued at USD 2.31 billion in 2018. Additionally, the report provides a comprehensive overview of the market listing major factors such as drivers, restraints, trends, and opportunities to help players invest accordingly. The report also lists the various segments of the market and the names of market players, accompanied by the prime strategies adopted by them. For more information on the report, log on to the company website.
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Protection from UV Rays to Help Market Gain Impetus
The increasing demand for energy-efficient buildings on account of the limited availability of resources is an important factor augmenting the window films market growth. Besides this, the increasing levels of environmental hazards such as global warming and outcomes such as climate changes have also propelled people to opt for remedies that will block the entry of ultraviolet rays of the sun from entering into homes and commercial spaces. Window films help in reducing the total heat energy and CO2 absorbed by windows in a room and are ultimately anticipated to increase the overall window films market revenue during the forecast period. Additionally, the rising demand for decorative window films from the automotive industry, is also expected to boost the overall window films market growth.
Asia Pacific to Show Significant Growth on Account of Rise in Building Activities
From a geographical perspective, Asia Pacific is holding a dominant window film market share on account of the increasing building and construction activities. Increasing building activities for various sectors such as banks, schools, colleges, hospitals, and others have also helped this region attract high window films market revenue. Nations such as India and China are facing rapid improvement based on infrastructural development with the complete support of central governments. China is the largest producer of window films in the world and this is further attributed to the dominant window films market share of Asia Pacific.
On the other side, North America will show prominent growth in the market on account of the demand for solar control films for use in vehicles. In 2018, North America earned USD 762.51 million.
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Expanding Business Through Multiple Distribution Channels – Key Strategy Adopted by Players
The window films market is fragmented in nature with a major presence of key players in Asia Pacific nations. As per analysts at Fortune Business Insights™, window films market manufacturers are emphasizing on expanding their geographical presence throughout the world with new product offerings and multiple distribution channels. To gain more traction to the market, players are entering into mergers and acquisitions, and other collaborative strategies to stay ahead of competition.
Significant Industry Developments of the window films market include:
March 2017 – Hanita coatings, a window film manufacturing company in North Israel, was acquired by Avery Dennison, manufacturing and distributing company for USD 75 million. Patented technology is used by Hanita Coatings that helps to provide high-quality solutions at low costs.
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Significant Window Films Market Manufacturers include:
- Eastman Chemical Company
- Madico Inc.
- Solar Gard Performance Plastics
- Armolan Window Film
- Jupiter International
- 3M Company
- American Standard Window Film
- Hanita Coatings
- Toray Plastics (America) Inc.
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