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Window Films Market Overview
Window
Films Market
size is forecast to reach $3.5 billion by 2026, after growing at a CAGR of 7.3%
during 2021-2026. Certain properties like the reduction of glare and protection
from the ultraviolet (UV) rays have increased the demand for window films in the construction and automotive sectors. Synthetic fiber accounts for the majority
of Polyethylene Terephthalate plastic made (up to 60%), with the remaining 30%
used for bottle production to meet global demand. The market has seen
increasing growth in the Asia-pacific region due to varied applications like sun
control film, decorative films, safety and security, privacy, and others. The
global production was dominated by China which accounted for 30.8% of the total
Polyethylene Terephthalate polymer production. The growth in the market is due
to the increase in the usage of window films for various applications in
sectors like building and construction, automotive, infrastructural,
industrial others.
COVID-19 Impact
The COVID-19 pandemic has had an
immediate impact on the world economy and that impact goes across all
industries, including mining. Some delays, due to the COVID-19 pandemic and
related contingencies, have occurred in underground development and halted preparation
in the mining projects. The construction industry was one of the hardest hit by
COVID-19, as it had already been dealing with a liquidity crunch as a result of
the non-banking financial institutions' impact on the financial sector for more
than a year. Because of a lack of funds, many projects have remained
unfinished. Due of shifting buyer preferences, those that were completed
remained unsold.
Report Coverage
The report: “Window Films Market- Forecast (2021-2026)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Window Films Industry.
By Type: Sun Control Film, Decorative Film,
Safety & Security Film, Insulating Film, Privacy Film, and Others.
By End Use: Automotive,
Building and Construction (Residential (Independent Homes, Row Houses and Large
Apartment Buildings) and Commercial (Airports, Hospitals, Hotels, Restaurants,
Office Building, Shopping Mall, Sports Stadium and Others)), Infrastructural,
Industrial, Marine, and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Asia-Pacific dominates the Window Films Market owing to rapid increase in the Automotive and construction sector.
- The market drivers and restraints have been assessed to understand their impact over the forecast period.
- The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
- The other key areas of focus include the various applications and end use industry in Window Films Market and their specific segmented revenue.
- Due to COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of window films related industries have been negatively affected, thus hampering the growth of the market.
Window Films Market Segment Analysis - By Type
Sun control film held the largest
share in the Window Films Market in 2020. This growth is mainly attributed to
the increasing demand for sun control film in varied applications such as in
automobiles, building and construction, and others. The UV-blocking film reduces
the amount of heat that is gained through the transmission of sunlight. The UV blocking
films let the natural light in and reject the heat and protect us from UV rays.
It also helps in lowering the energy cost by providing natural light, reducing
glare, eliminating the hotspots, and provide a better look.
Window Films Market Segment
Analysis - By End Use
Building and Construction dominate
the Window Films Market and growing at a CAGR of 11.6%. The change in the pattern
and usage of window film for varied application in household like protecting
from excessive heat and cold, reduce glare, improves safety and security and
also enhance the privacy and style. With the growing construction industry and
its demand for window films particularly in the regions of Asia-Pacific, North
America and Europe, the demand of window films for all kinds of buildings is
expected to see an upsurge. Residential application segment is witnessing
growth due to the rising penetration from untapped markets. First-mover
advantage in untapped regions and relatively low acquisition costs remain key
driving forces in this application market. Furthermore, R&D in PVC
Additives will support the growth of the PVC Additives market.
Window Films Market Segment
Analysis - Geography
Asia Pacific region held the largest
share in the Window Films Market in 2020 up to 42% followed by North
America and Europe. APAC as a whole is set to continue to be one of the largest
and fastest growing construction markets globally. Large and more developed
markets such China, India, Japan, and South Korea are expected to grow more in
the coming years. China is driving much of the window films market demand in
Asia-Pacific region followed by India and Japan. Of the five fastest growing
regions in construction sector, other than U.S. all are Asian countries
including China and India who majorly drive the demand for construction
investment in this region. The strong and healthy growth in construction sector
is associated with growing population and middle-class economy, which tend to
drive APAC residential construction market further and hence the window films
market. The number of buildings that have illuminated window films are growing
sharply in APAC region. The increasing number of new building constructions,
along with the rise in the number of renovation projects has further propelled
the market. Currently the construction industry has been affected due to
COVID-19 pandemic where most of the industrial activity has been temporarily
shut down. In in turn has affected the demand and supply chain as well which
has been restricting the growth in year 2020.
Figure:
Window Films Market Revenue, 2020-2026 (US$ Billion)
Window Films Market Drivers
Replacement of conventional material with new protective material
The growing concern about the
Ultra-Violet radiation affecting the human in terms of several diseases is
creating an opportunity for the market in the next few years. The window films
with its advantageous qualities will drive the demand as they can protect us
from UV rays, provide glare free glass, security and safety and also beneficial
for every season. The old compact homes are now transforming into the view
zones and more decorative than the traditional one. Engineers at the
Massachusetts Institute of Technology have developed a method for creating an
optical film with hydrogel microparticles that prevents radiative heat
transfer. If commercialized, the material could reflect nearly 70% of the solar
heat entering a building's windows, saving billions of dollars in energy costs.
Rise in safety needs in vehicles
The increase in knowledge
about safety and health concerns are leading towards the rise in demand for
automotive window films. The automotive films help in protection from the
harmful ultraviolet rays as it blocks the harmful rays and only let the natural
light to pass on. It helps in staying the vehicle cool by reducing heat and
reduce glare so that you can see properly and clearly. In terms of how major
markets are recovering from the pandemic's aftereffects, China's automotive
industry has been the most rapid, followed by the United States, which began to
improve around Q3 2020. Despite the pandemic's lingering impact, Europe and
India have shown signs of steady recovery, although at a slow pace.
Window Films Market Challenges
The Problem in
installation of the window film
Innovation is the key to
developing new products but due to the technicality it becomes difficult to
find highly skilled people for the work. The issue in case of installation and
repairing of the glass is highly difficult. The factors like installation,
warranty and technicality are hampering the growth of the market because of the
precision in the work.
Higher investment
and government policies
Innovation is the key to
developing new products, but the changing government rules regarding the
automotive window films because of increase in crime, road accidents and others
are hindering the growth of the market. There
is a need of higher investment in setting up of manufacturing plant and
specialized people in to set up automotive window films which are leading as a setback
in the growth of the automotive window films market.
Window Films Market Landscape
Technology
launches, acquisitions and R&D activities are key strategies adopted by
players in the Window Films Market. Major
players in the Window Films Market are 3M, American Standard Window Films,
Eastman Chemical Company, Saint-Gobain Performance Plastics Corporation, Toray
Plastics (America) Inc., Johnson Window Films, and Others.
Acquisitions/Technology Launches/ Product Launches
- In November 2019, Suntuitive Dynamic Glass launched Suntuitive Monolite, a product with a very high performance piece of dynamic glazing, single laminate, transition from light to dark in response to solar heat without any wires or controls and with same installation as the traditional glass.
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1. Window Films Market- Market Overview
1.1 Definitions and Scope
2. Window Films Market- Executive Summary
2.1 Key Trends by Type
2.2 Key Trends by End-Use Industry
2.3 Key Trends by Geography
3. Window Films Market - Landscape
3.1 Window Films Market - Comparative Analysis
3.1.1 Market Share Analysis- Major Companies
3.1.2 Product Benchmarking- Major Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Major Companies
3.1.5 Pricing Analysis (ASPs will be provided)
4. Window Films Market - Startup companies Scenario Premium Premium
4.1 Major startup company Analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product Portfolio
4.1.4 Venture Capital and Funding Scenario
5. Window Films Market– Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Successful venture profiles
5.4 Customer Analysis - Major companies
6. Window Films Market- Market Forces -Done
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Window Films Market -Strategic analysis
7.1 Value/Supply chain analysis
7.2 Opportunity analysis
7.3 Product/Market life cycle
7.4 Distributor Analysis – Major Companies
8. Window Films Market– By Type (Market Size -$Million)
8.1 Sun Control Film
8.2 Decorative Film
8.3 Safety & Security Film
8.4 Insulating Film
8.5 Privacy Film
8.6 Others
9. Window Films Market– By End-Use Industry (Market Size -$Million)
9.1 Automotive
9.2 Building and Construction
9.2.1 Residential
9.2.1.1 Independent homes
9.2.1.2 Row Houses
9.2.1.3 Large Apartment Buildings
9.2.2 Commercial
9.2.2.1 Airports
9.2.2.2 Hospitals
9.2.2.3 Hotels
9.2.2.4 Restaurants
9.2.2.5 Office Building
9.2.2.6 Shopping Mall
9.2.2.7 Sports Stadium
9.2.2.8 Others
9.3 Infrastructural
9.4 Industrial
9.5 Marine
9.6 Others
10. Window Films Market - By Geography (Market Size -$Million) (Regional sequence is wrong) -Done
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 UK
10.3.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Asia Pacific (APAC)
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 South Korea
10.3.5 Australia and New Zealand
10.3.6 Indonesia
10.3.7 Rest of Asia Pacific
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Colombia
10.4.4 Rest of South America
10.5 Rest of World (RoW)
10.5.1 Middle East
10.5.1.1 Saudi Arabia
10.5.1.2 UAE
10.5.1.3 Rest of Middle East
10.5.2 Africa
10.5.2.1 South Africa
10.5.2.2 Nigeria
10.5.2.3 Rest of Africa
11. Window Films Market- Entropy
11.1 New Product Launches
11.2 M&A’s, Collaborations, JVs and Partnerships
12. Window Films Market - Market Share Analysis Premium
12.1 Market Share by Global Level- Major Companies
12.2 Market Share by Key Region- Major Companies
12.3 Market Share by Key Country- Major Companies
12.4 Market Share by Key Application - Major Companies
12.5 Market Share by type of Product / Product category- Major Companies
13. Window Films Market- List of Key Companies by Country Premium
14. Window Films Market Company Analysis
14.1 Market Share, Company Revenue, Products, M&A, Developments
14.2 Company 1
14.3 Company 2
14.4 Company 3
14.5 Company 4
14.6 Company 5
14.7 Company 6
14.8 Company 7
14.9 Company 8
14.10 Company 9
14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"