GVR Report cover 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, 2020 - 2024

  • Report ID: GVR-1-68038-134-4
  • Number of Pages: 90
  • Format: Electronic (PDF)

Report Overview

The global solar control window film market size was USD 632.7 million in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 6.0% from 2020 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 characterized 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 fiber for carpets and clothes. Growing market for solar control window films has driven the growth of the PET market globally.

Solar Control Window Film Market Trends

The construction sector is the largest application area of solar control window films. Factors such as industrialization and moderate lending policies have played a huge role in the growth of both, residential and commercial residential sectors. The global construction industry is on a growing stage since the economic slowdown between 2007 and 2009. Developing countries such as China and India have contributed to this growth. This trend is expected to continue in the coming future.

The most basic function of solar control window films is protection from harmful radiation, in a room or a car. Severe ultraviolet (UV) rays are proven to be fatal by causing skin cancer. Some of the other benefits of using solar control window films include the prevention of fading of furniture in houses as well as the interiors of a car. Also, the installation process of these films is user-friendly and inexpensive. These films, which come in a variety of patterns and textures, can also enhance a building's visual quality. These are some of the advantages of using solar control window coatings, which are propelling the market forward.

According to the U.S. Department of Energy, approximately one-third of a building’s cooling costs are attributed to heat gained through windows. Installing solar control window films can control the amount of heat penetrated through the windows, thus, reducing the cost and energy needed to cool the building with appliances such as air-conditioners. These appliances emit harmful greenhouse gases which adversely affect the environment. By controlling the usage of such appliances, the emission of harmful gases is under control, which helps in reducing carbon footprint.

The solar control window films market is growing steadily across the globe, courtesy growing construction industry and the presence of key market players throughout the world. The biggest threat to the growth of this market is the emergence of solar control window films.

Solar control glass is one of the hi-tech discoveries in the glass industry, which allows sunlight to pass through it while reflecting away the sun’s heat. It basically performs all the functions of the solar control window film. However, in order to install the solar control window films, the user has to completely replace the existing glass of the house, which could prove expensive.

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, has 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

In 2019, the Asia-Pacific region dominated the market for solar control window films. Rising construction prices in countries like India, South Korea, and Indonesia are driving this region. The market for solar control window films has been bolstered by the bright outlook of the automobile industry in this region. From 2016 to 2020, the MEA region, which is seeing an increase in new building activities, is expected to rise at the second-fastest CAGR. The European economy has hampered the market for solar control window films from expanding. Because of the growing construction sector, as well as enhanced properties like energy savings and decreased carbon footprints, the market has risen. Furthermore, rigorous regulations governing commercial building energy consumption have raised product demand.

The North American region is on the stage of recovery from the economic depression between 2007 and 2009. The construction industry in this region is witnessing an upward surge courtesy lenient lending policies and the recovery of the residential construction sector. This region is projected to grow at a CAGR of 6.1% between 2016 and 2024, the second-highest after the Asia-Pacific region in the solar control window films market.

The U.S. dominated the North American market for solar control window films. This country accounted for the maximum market share of the total North American market in 2015. Recovery of the economy post the economic slowdown between 2007 and 2009 as well as rebound of the residential construction sector have driven the solar control window films market in this country.

Solar Control Window Film Market Trends by Region

Germany is one of the most developed countries in the world. Major automobile manufacturers such as Mercedes-Benz, Volkswagen, and BMW are headquartered in this country. The German construction industry is on the verge of recovery from the economic depression.

The U.K. is considered to be a matured market for solar control window films. The economic slowdown between 2007 and 2009 had a huge impact on the automotive and construction sectors in the U.K., which has slowed down the growth of the solar control window films market here. 

Key Companies & 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, the 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. 

Solar Control Window Film Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 670.3 million

Revenue forecast in 2024

USD 849.2 million

Growth Rate

CAGR of 6.0% from 2020 to 2024

Base year for estimation

2019

Historical data

2014 - 2018

Forecast period

2020 - 2024

Quantitative units

Revenue in USD million and CAGR from 2020 to 2024

Report coverage

Volume and revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

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

Country scope

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

Key companies profiled

3M Company (U.S.); Eastman Chemical Company (U.S.); Saint-Gobain (France); Garware Polyester Limited (India)

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Solar Control Window Film Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this report, Grand View Research has segmented the global solar control window film market report on the basis of product, application, and region:

Global Solar Control Window Film Market Segmentation

  • 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

  • Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2013 - 2024)

    • North America

      • U.S.

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

    • Middle East & Africa

Frequently Asked Questions About This Report

pdf

GET A FREE SAMPLE

bck

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

cog

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon gvr sidebar D&B icon gvr sidebar

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.