The global solar control window film market is projected to reach USD 849.2 million by 2024, according to a new report by Grand View Research, Inc. Growing construction and automotive industries are expected to fuel the growth of the solar control window films industry.
Solar control window films are installed on windows of buildings and vehicles in order to block harmful IR and UV rays. Installation of these films helps restrict the use of air conditioners which, in turn, lowers the emission of harmful gasses from these appliances.
The construction segment dominated the market in terms of application in 2015. It accounted for 57.4% of solar control window film market in 2015. Growing construction activities in the Asia Pacific and MEA are providing the necessary momentum to the growth of the market. Regulations regarding energy consumption and conservation particularly in commercial buildings have further
increased the demand for solar control window films.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/solar-control-window-film-market
Further key findings from the report suggest:
·
Among applications, the construction segment
held the largest share and is projected to grow at the highest CAGR of 6.2%
during the forecast period. Increasing construction spending, especially in
emerging regions such as Asia Pacific and MEA is expected to drive this segment
over the forecast period. The construction industry in the U.S. has witnessed
an upward surge, which has further increased the demand for the product in this
segment.
·
Vacuum coated films are projected to grow at the
highest rate of 6.1% from 2016 to 2024, owing to their ability to block the
fatal UV rays effectively. The metal content in these films reflects the sun
rays and keep the interiors of buildings and vehicles cooler and prevent them
from fading, making them more popular than dyed and clear films.
·
Asia Pacific was valued over USD 170 million in
2015 and held the largest share in the global market. It is also projected to
be the fastest growing region from 2016 to 2024, with a CAGR of over 6%
courtesy growing construction and automotive industries. Emerging countries
such as India, South Korea, and Indonesia have witnessed tremendous growth in
both, construction and automotive sectors. Also, as the weather in this region
can get hot and humid, particularly during summer, it is imperative to shield
buildings and vehicles with solar control films.
·
The market is dominated by key players such as
Saint-Gobain SA (France), 3M Company (U.S.), Garware Polyester Limited (India),
and Eastman Chemical Company (U.S.). Apart from these, several small and medium
scale players are present in the market. These companies, through R&D and
strategic developments, aim to increase their market shares. New product
development was the most popular strategy adopted by these players, which
helped them expand their current product portfolio.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global solar control window film market on the basis of product, application, and region:
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
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
For press release of this report - http://www.grandviewresearch.com/press-release/global-solar-control-window-film-market
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