Solar Control Window Film Market Size, Share & Trend Report

Solar Control Window Film Market Size, Share & Trend Analysis Report By Product (Clear, Dyed, Vacuum Coated), By Application (Construction, Automotive, Others) And Segment Forecasts To 2024

  • Published Date: Oct, 2016
  • Base Year for Estimate: 2015
  • Report ID: GVR-1-68038-134-4
  • Format: Electronic (PDF)
  • Historical Data: 2013-2015
  • Number of Pages: 90

Industry Insights

The global solar control window film market size was USD 505.1 million in 2015 and is projected to grow at a CAGR of 6% from 2016 to 2024. Solar control films are installed on windows in order to protect the interiors of buildings and cars from harmful ultra-violet (UV) rays and infrared radiations (IR).

Growing construction industry coupled with superior properties including energy savings and reduction of carbon footprints has contributed to the market growth. Further, stringent regulations regarding energy consumption in commercial buildings have increased the product demand.

U.S. solar control window film market

Apart from these advantages, it helps in protecting the paint and coatings of rooms and cars which tend to fade away due to the sun-rays. In addition, they provide insulation all through the year. Tropical countries such as Brazil, Mexico, and India particularly are key countries contributing to the product demand due to extreme weather conditions.

The solar control window films market consists of raw material suppliers, manufacturers, distribution channels, and end user applications. The growing end-use application sectors such as construction and automotive are expected to have a positive impact on the growth of the solar control window films market. Polyethylene terephthalate (PET) is the majorly used raw material in the manufacturing process of the films. Other raw materials include dyes & adhesives and metals such as stainless steel and silver. The market for solar control window films is highly competitive owing to the presence of a large number of established manufacturers and suppliers and new entrants in the market.

Polyethylene terephthalate (PET), which was discovered and patented in England in 1941, is the most common type of pollster and a primary material used in the manufacturing process of solar control window films. PET is characterised by excellent strength and optical clarity and hence, it is considered to be the ideal material for making solar control window films. Apart from solar control window films, PET is used for manufacturing bottles and containers. Also PET can be recycled and made into fibre for carpets and clothes. Growing market for solar control window films has driven the growth of the PET market globally.

Application Insights

The construction segment accounted for the largest share of over 50%, in 2015. Factors such as lenient lending policies and industrialization have played a huge role in the growth of both, residential and commercial construction sectors. This segment is also projected to be the fastest growing, followed by the automotive segment, over the forecast period. The construction segment is projected to witness a CAGR of 6.2% from 2016 to 2024. According to the Asian Development Bank, the Asia Pacific region is projected to invest between USD 8 trillion to USD 9 trillion in new infrastructure activities from 2010 to 2020, thus, fueling the growth of the construction industry in this region, further boosting the market growth.

The automotive sector was the second largest application of solar control window films in 2015. Growing global automotive industry, coupled with rising temperatures have increased the demand for solar control window films for vehicles. However, stringent regulations regarding shades of these products on vehicles may prove to be an obstacle for market growth.

Product Insights

The vacuum coated solar control window films held the largest share among all product types in 2015 and is projected to be the fastest growing product with a CAGR of 6.4% from 2016 to 2024. The metal content in the product reflects the incoming heat and also blocks the harmful UV rays, which cause cancer. These films reflect the largest amount of solar radiation, keeping the interiors cooler, as compared to other films.

Global solar control window film market

Regional Insights

Asia Pacific accounted for the largest share of 34.4% in the global market in 2015. It is projected to be the fastest growing region courtesy its expanding construction sector. The construction industry in this region is dominated by emerging countries such as India and China. Also, growing automotive industry is expected to drive the demand for solar control window films in this region.

The market for solar control window films is projected to grow at a decent rate in the Middle East & Africa due to growing construction activities. However, a slowdown in the construction sector in Europe has resulted in the sluggish growth of the solar control films market in this region. Some countries in Europe such as Greece and Spain are still reeling under the influence of the economic depression between 2007 and 2009.

Solar Control Window Film Market Share Insights

The industry is fragmented with the presence of a large number of suppliers and manufacturers. Some of the prominent players include 3M Company (U.S.), Eastman Chemical Company (U.S.), Saint-Gobain (France), Garware Polyester Limited (India). These companies resort to various strategic developments such as mergers & acquisitions, expansions, new product developments, and agreements, collaborations & joint ventures to ensure a wider product portfolio and dense distribution network, thus, increasing their presence in the market.

For instance, in September 2013, Eastman Chemical Company announced the expansion of its window film business by investing USD 40 million between 2013 and 2016 in Henry County, U.S. In October 2012, SolarGard, a subsidiary of Saint-Gobain, opened a new manufacturing facility in China, for its construction and automotive products segment. This expansion further enhanced the company’s reach in the Chinese market.

Some of the other players include Johnson Laminating and Coating, Inc., Hanita Coatings RCA Ltd., Sican Co. Ltd., The Window Film Company, Polytronix Inc., and Madico, Inc. 

Report Scope 

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Volume in Million square feet, Revenue in USD Million & CAGR from 2015 to 2024

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

Country Scope

The U.S., Germany, UK, China, India, Brazil

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