Feb 20, 2020
Window Films Market Promises Encouraging Growth with Increasing Infrastructure Applications, Opines Fact.MR
by Team Fact.MR
Advancement in window film technology such as dual reflective and spectrally selective films is increasing the demand for window films in commercial and residential applications. Business owners and home owners alike are selecting window films to block UV rays, reduce glare, and increase energy efficiency of cooling systems. Automotive applications are also gaining considerable growth on the back of resurgent automobile market and favorable government regulations. The global window films market is expected to grow at a healthy growth rate between 2019 and 2029. Manufacturers of window films must invest in expansion of product portfolio in order to leverage opportunities.
Key Takeaways of Window Film Market Study
- Sun Control window films account for a majority chunk in consumer demand with more than 46% of market share, followed by Decorative window films which garner 1/4th of the market share.
- Security and Safety window films present remunerative opportunities by leveraging the advancements in durability and protection offered by window films.
- Automotive applications of window films reduces energy consumption through cooling systems and ensures clear vision. This segment is poised to witness 1.5x growth during the forecast period.
- Commercial applications are projected to offer further investment opportunities for manufacturers to engage high-paying clientele by offering customized window films that serve industrial needs.
- Aerospace and defense end-uses such as marine window films promise sustainable revenue prospects with a promising 6% CAGR.
- North America and Europe collectively account for more than half of total market value. Early adopters in this regions are driving window film demand on the back of surging automotive production and resurgent real-estate industry.
- East Asia and Southeast Asia & Oceania are well-poised to reflect cumulative gain of more than 1/3rd of the total market value by the end of 2029.
“Window Film associations such as International Film Association (IFA), and European Window Film Association (EWFA) are creating a conducive environment for manufacturers by facilitating knowledge transfer about the latest technology and government policies. Market players stand a chance to gain exponential revenue by integrating open source updates with existing production capacity”. -Says Fact.MR Analyst
Asia Presents Robust Opportunities
Asian countries such as India, China, South Korea, Indonesia, and Thailand are experiencing rapid growth in modern home concepts that use window films as smart cooling to reduce electricity consumption. These regions are seeing a surge in infrastructure development such as schools, corporate offices, banks, and residential projects to support their blooming economies. Proactive participation by statutory bodies in reducing friction surrounding infrastructure development plays a crucial role. Based on the above factors manufacturers of window films must expand their footprint in Asia to leverage its growth opportunities.
Find More Valuable Insights on Window Films Market
Fact.MR, in its new offering, provides an in-depth analysis of the global window films market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the window films market on the basis of product type (Sun control, decorative, security & safety, and Privacy), applications (Automotive, Residential, Commercial, Marine, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
>>> To Get more insights on window films market, visit- https://www.factmr.com/report/2388/window-films-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain expertise, visit here.