The global Solar Control Window Film Market size is projected to reach USD 959.0 million by 2026, exhibiting a CAGR of 6.1% during the forecast period. Escalating carbon emission levels around the world will be a key factor driving the growth of this market, finds Fortune Business Insights™
According to the US Environment Protection Agency (EPA), carbon dioxide has the largest share of 65% in the total greenhouse gases (GHGs) emitted around the world. The majority of these carbon emissions come from transportation activities, wherein vehicles primarily depend on fossil fuel energy. To address this issue, there is a dire need to develop technologies and tools to relieve the pressure on the fast-depleting fossil fuel sources. In this context, solar window films can play a decisive role as these plastic layers efficiently absorb sun rays and prevent them from entering wholesale into a car or house, thus keeping the place cool and reducing energy consumption.
List of Players Covered in the Solar Control Window Film Market Report:
LLumar Films (Pty) Ltd.
E&B Co., Ltd.
Eastman Performance Films LLC.
Solar Control Window Film Inc.
Avery Dennison Corporation
Extensive Benefits of Window Films for Residential Spaces to Boost Their Uptake
Solar window films offer a host of advantages for residences, especially in those regions where climates are extreme. For example, regular windows in homes lead to huge amounts of energy wastage due to their poor absorption properties. Tinted windows, on the hand, with their superior absorption and filtration qualities, can make homes energy-efficient by reducing energy consumption between 30% and 50%. Furthermore, these films also help in reducing glare and heat build-up in homes, creating a comfortable indoor environment for the occupants. Aside from their environmental benefits, solar films are also optically pleasing as they can be designed and customized according to the aesthetics of a building. Lastly, these films are important to protect skin from getting prolonged exposure to the sun’s ultraviolet (UV) rays as they provide a strong insulation from these rays, making them especially attractive in tropical and equatorial countries.
Asia-Pacific to Register Fastest Growth; Europe to Grow at a Moderate Pace
Among regions, Asia-Pacific is anticipated to dominate the Solar Control Window Film market share in the forthcoming years owing to rapid growth in the construction sector in India and China, fueled by speedy urbanization in these countries. Moreover, governments in the region have made ambitious commitments to reduce their carbon footprint and are, therefore, taking required steps to achieve their targets, thereby generating lucrative opportunities for market players.
In North America, the market is expected to grow relatively slowly and will be mainly driven by the strong presence of solar film manufacturers such as Avery Dennison. The market in Europe, on the other hand, will display steady growth owing to high demand solar window films from the automotive industry.
An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
Regular Launch of Innovative Products to Spur Market Competition
The Solar Control Window Film market growth is bolstered by the frequent launch of novel film solutions by key players in this market. Besides this tactic, companies are also focusing on expanding their global footprint, widening their range of products, and collaborating with other players to enhance their innovation capacity.
November 2019: The US-based window films leader, Eastman Performance Films, introduced its revolutionary film technology for the automotive industry called Core. The technology is a software platform driven by analytics capabilities to support business operations and combine access to mobiles and desktops to ensure flexibility.
April 2019: SOLAR GARD, the automotive film specialist, launched the VORTEX IR™ Ceramic Film Series, the company’s next-gen automotive films. The new series features advanced nano ceramic technology that absorbs 96% of infrared rays and prevents overexposure to UV rays by blocking 99% of solar radiation.
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