Window Films Market Promises Encouraging Growth with Increasing Infrastructure Applications: Fact.MR
Published : 09 Sep 2021 Industry: Chemical & Materials
As per Fact.MR, a market research and competitive intelligence provider, the global window films market is expected to expand at a CAGR of more than 5% from 2021 to 2031.
Advancements in window films technology such as dual reflective and spectrally selective films are increasing 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 a resurgent automobile market and favorable government regulations. Manufacturers of window films must invest in expansion of product portfolio in order to leverage the opportunities on offer.
Key Takeaways from Market Study
- Sun control window films account for a majority chunk with more than 2/5 market share, followed by decorative window films at 1/4 market share.
- Security and safety window films present remunerative opportunities by leveraging advancements in durability and protection offered.
- Automotive application of window films reduces energy consumption through cooling systems and ensures clear vision. 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.
- 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 a resurgent real estate industry.
- East Asia and Southeast Asia & Oceania are well-poised to reflect cumulative gain of more than 1/3 of the total market value by the end of 2031.
“Window film associations such as the 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 a smart cooling technique to reduce electricity consumption. The region is seeing a surge in infrastructure development such as schools, corporate offices, banks, and residential projects to support their booming economies.
Proactive participation by statutory bodies in reducing friction surrounding infrastructure development plays a crucial role. Based on these factors, manufacturers of window films must expand their footprint in Asia to leverage its growth opportunities.
Find More Valuable Insights
Fact.MR, in its new offering, provides an in-depth analysis of the global window films market, displaying data on historical demand (2016-2020) and forecast data for the period, 2021-2031.
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) and application (automotive, residential, commercial, marine, and others), across 6 key regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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.
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Consultant - Chemicals & Materials