Global Solar Control Window Film Market Extends at a Healthy CAGR of 6.2% by 2030

Introduction

Solar power window film, also known as solar window film, is a thin layer of plastic or polymer that regulates heat or sunlight. These films reduce heat buildup by improving window glass's reflective and absorptive properties. The market is anticipated to increase due to stringent government requirements to reduce carbon footprints and the desire to meet energy efficiency targets. Environmental sustainability-related policy efforts will encourage product adoption. Furthermore, they improve safety by forming a shield across the glass and holding broken glass shards in place in the event of a break.

Market Dynamics

Growing Use in Buildings and Automobiles and Numerous Advantages of Solar Control Window Film Drives the Global Market

Solar control films are applied to windows to protect the interiors of buildings and vehicles from ultraviolet (UV) and infrared (IR) radiation (IR). Construction industry growth and superior qualities, like energy efficiency and a smaller carbon footprint, drive the growth. The numerous advantages of these films, such as the decrease in energy consumption, drive the growth of the solar control window film market. By letting natural light through the window glass, these films improve temperature regulation, reduce fading of inside furnishings, and regulate glare. Films of superior quality can block up to 79% of the sun's heat and reduce glare by up to 85%. In addition, they are simple to install and maintain and have a longer lifespan; as a result, they provide a more cost-effective solution than more expensive windows and glasses.

Increasing Environmental and Health IssuesCreates Tremendous Opportunities

The residential, commercial, and industrial sectors are implementing policies to lower energy consumption. Car heating, ventilation, and air conditioning systems use nearly 1 trillion kilowatt-hours annually. These coatings block more than 82% of solar energy, saving more than 31% on utility bills. In addition, the government has supported the industry's efforts to reduce carbon footprints. India has proposed to reduce its carbon emissions by more than 31% by 2030.

Regional Analysis

Asia-Pacific emerged as the fastest-growing market and is anticipated to grow at a CAGR of 10.9% during the forecast period. Rapid industrialization and commercialization in India, Thailand, and South Korea are primarily responsible for this region's economic expansion. According to Invest India, India's construction market is predicted to grow at a CAGR of 5.6% during the forecast period. The expansion of telecommunications, banking, financial services, and information technology has increased the demand for commercial space, driving construction costs and boosting the regional market for solar-controlled window films.

Key Highlights

• The global solar control window film market was valued at USD 6.42 billion in 2021. It is projected to reach USD 11.03 billion by 2030, growing at a CAGR of 6.2% during the forecast period (2022–2030).
• Based on application, the market is divided into Construction, Automotive and Transportation, Marine, and Decorative.The construction industry is dominating the market and is anticipated to grow at a CAGR of 6.2% during the forecast period.
• Based on products, the market is segmented into Clear, Dyed, and Vacuum coated films.The vacuum-coated solar control window films maintained the most significant share and are anticipated to grow at a CAGR of 6.4% during the forecast period.
• Asia-Pacific emerged as the fastest-growing market and is anticipated to grow at a CAGR of 10.9% during the forecast period.

Competitive Players

Competitive Analysis

The global solar control window film market’s major key players are 3M (US), The Window Film Company (UK), Eastman Chemical Company (US), Garware Sun control (India), Avery Dennison Corporation (US), Saint-Gobain (France), Madico, Inc (US), Solar Screen International SA (Luxembourg), Johnson Laminating & Coating, Inc (US), and NEXFILUSA (US).

Recent Developments

Market News

• May 2022, one million trees' worth of smog-fighting capacity has been installed on roofs using Malarkey Roofing Products shingles with 3M Smog-reducing Granules.
• June 2022, The Window Film Company has completed aClear UV window film installation at a stunning London apartment.
• April 2022, Maip Group announces new sustainable polymers for the European automotive market using Eastman’s molecular recycling technologies.
• April 2022, Avery Dennison fortifies its presence in India by commencing operations of its state-of-the-art manufacturing facility in Greater Noida.

Segmentation

Global Solar Control Window Film Market: Segmentation

By Application       

• Construction
• Automotive And Transportation
• Marine
• Decorative

By Product

• Clear Films
• Dyed Films
• Vacuum Coated Films

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA