The global solar control films market was valued at USD 597.5 million in 2018 and is expected to reach USD 959 million by 2028, expanding at a CAGR of 6.1% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing concerns towards reducing the carbon footprint around the globe.
Solar control window film, also known as solar window film is a thin plastic layer or polymer that is used for protection against heat or sunlight. This layer protects the window glass from heating up, blocks UV radiation, and limits the amount of visible light and glare entering the room/vehicle by improving the reflecting and absorbing properties of the glass.
Window films are often put on the solar control glass and in the inner side of glass panes or windows in homes, offices, hotels, autos, and airplanes. The solar control film also adds up to the aesthetic of the glass and is widely available in varied grades, colors, thicknesses, and finishes. These films are extremely famous in the building & construction and automotive industries.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for solar control window films in residential and commercial buildings, as well as the rising automotive sector in developing nations, is expected to drive the market.
- Solar films for commercial and residential use are long-lasting and durable films that help to minimize issues like heat, energy loss, and glare in commercial, institutional, and residential settings; this is estimated to drive the market.
- The need for solar control films is growing due to rising energy prices and environmental challenges to fulfill the rising need for energy efficiency.
- Availability of alternative solar control technologies and products is projected to be a major restraint on the market expansion.
- Manufacturers fail to meet their warranty responsibilities and low-quality films discolor and fall apart in a short amount of time. This hampers the market growth.
Scope of Solar Control Films Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Solar Control Films Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Type (Clear [Non-Reflective], Dyed [Non-Reflective], and Vacuum Coated [Reflective]) and Application (Commercial Buildings, Residential Buildings, Automobile, Marine, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Eastman, 3M, Saint Gobain, Madico, Johnson, Hanita, Haverkamp, Sekisui, Garware SunControl, Wintech, Erickson, KDX, Shuangxing(Kewei), and Recon Blinds
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Solar Control Films Market Segment Insights:
Based on type, the solar control films market is divided into clear [non-reflective], dyed [non-reflective], and vacuum coated [reflective]. The clear segment is expected to expand at a significant growth rate during the projection period. Non-reflective films are created to absorb excessive heat and light. Non-reflective Films are tinted films, which mainly reduce heat. These films are easy to install on curved glass.
Based on application, the global market is segmented into commercial buildings, residential buildings, automobile, marine, and others. The automotive segment is expected to grow at a rate of 11% CAGR in revenue during the forecast period. Vehicles are exposed to a lot of sunlight, which raises the internal temperature and puts more strain on the air conditioning system, which impacts fuel usage. These coatings assist to keep the inside temperature stable by reflecting UV radiation. The growing automobile sector may have a favorable influence on the market for sun-control window films.
The marine segment is expected to exceed USD 110 million by 2028, with a CAGR of over 11%. During a voyage, ships are exposed to the sun's damaging rays. Harmful UV radiation can cause headaches, and damage to cellular phones, audio instruments, and nautical equipment.
In terms of region, the global solar control films market is classified as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific emerged as the fastest-growing market, with a CAGR of 10.9% in 2020. The rapid industrialization and commercialization of countries like India, Thailand, and South Korea are expected to create immense growth opportunities for the market players. Rising industrialization in emerging economies such as India and China leads to the growing need for commercial spaces for various industries such as banking, information technology, financial services, and telecommunication. The demand for solar control films in commercial and residential spaces is increasing as this helps in minimizing excessive heat such as UV rays and glare in commercial buildings.
Segments
Segments Covered in the Report
The global solar control films market has been segmented on the basis of
Type
- Clear [Non-Reflective]
- Dyed [Non-Reflective]
- Vacuum Coated [Reflective]
Application
- Commercial Buildings
- Residential Buildings
- Automobile
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key Players
Competitive Landscape
Major players in the global solar control films market include Eastman, 3M, Saint Gobain, Madico, Johnson, Hanita, Haverkamp, Sekisui, Garware SunControl, Wintech, Erickson, KDX, Shuangxing(Kewei), and Recon Blinds.
Madico, Inc. purchased Midwest Marketing, Inc.'s distribution business in August 2018. This purchase was projected to benefit the company's distribution business by allowing it to provide direct service to all of its clients in the US.