The Window Films market is projected to grow at a CAGR of 7.1% to reach USD 5.0 billion by 2026 from 3.1 billion in 2019. The usage of Window Films is fast becoming indispensable in the building and construction industry and automotive industry. Growth of the construction industry in the residential and commercial sector, primarily in the Asia Pacific, in order to meet the demand for housing from a rapidly growing population and has also led to a favorable market for Window films. Also, new trends in the construction industry such as Energy Efficient Buildings, Smart Homes, Lean Construction, Building Information Modelling (BIM), Modular Construction, and Green Buildings have increased the role of window films in building and construction. However, the recent outbreak of Covid-19 has impacted the growth of commercial and office space construction thereby impacting the demand for window films.
The key players operating in the market are:
The research report analyses the ecosystem of Window Films and categorizes the Window Films Market to forecast the revenues and analyse the trends in each of the following below-mentioned market segments.
In terms of the type of window films market, the switchable smart films segment is estimated to be the largest segment in terms of revenue during the forecast period
The Switchable smart films have a higher revenue share as compared to other types on account of their higher prices. The UV blocking films are expected to account for the second-largest revenue share of the window films market.
The Switchable Smart window film market is expected to grow in U.S. and Europe in order to meet the growing need to reduce energy consumption due to implementations of certain mandates and regulations such as Leadership in Energy and Environmental Design (LEED) and the Nearly Zero-Energy Buildings.
The UV control films can be used to prevent discoloration of furnishings, furniture, etc. due to UV rays. The growing adoption of large-size windows has made the usage of UV control films inevitable in both Europe and North America. The UV blocking window films can be manufactured from materials, such as polymer film (most commonly polyester), polyethylene terephthalate, (PET), scratch-resistant coating (usually acrylic coating) and metal/alloy layers
The antimicrobial film market is also expected to register the highest CAGR on account of growing cases of infectious diseases such as Covid -19 and increasing applications in healthcare facilities
By Application, the residential construction application is expected to be the largest segment
The residential construction application segment dominated the Window Films market in terms of revenue in 2019. It is also the fastest-growing segment in terms of CAGR. The residential and commercial housing sector is increasingly adopting Window Films in order to meet energy efficiency norms and changing customer needs. The residential segment is bigger and is growing at a higher CAGR as compared with a commercial segment on account of implementation of work from home due to the closure of offices. The slowdown in the construction industry impacted the UV Blocking films segment and Switchable Film segment on account of the Covid – 19 outbreak. However, the growth in these segments is expected to pick up with the gradual easing of lockdown conditions
The Asia Pacific is expected to be the fastest-growing segment in the forecast period
The Asia Pacific was the fastest-growing segment of the overall Window Films market. While Europe is expected to be the second-largest market. The North American region is also projected to witness a higher demand for Window Films in the coming years on account of the increasing adoption of Window Films in the automotive and construction industries. Increasing innovations and availability of window films coupled with the demand from end-user industries such as residential housing, commercial construction, and the healthcare industry is driving growth in these regions. The construction industry in the Asia Pacific region is also growing on account of rising urbanization, rising disposable income, and government initiatives, and residential and commercial construction projects. Key Window Films markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia. Key Window Films markets in Europe include UK, Germany, France, and Italy.
The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities, and challenges
The Covid-19 had an overall negative impact on the overall window films market. Covid-19 impacted the construction activity in Europe and North America. This led to the decline in demand for Window Films in North America and Europe. However, the UV blocking and Switchable Films segment is expected to grow a modest CAGR till 2026 with the gradual recovery of the construction sector and easing of lockdown conditions. The Antimicrobial Films witnessed an increase in sales on account of growing demand from hospitals and healthcare facilities.
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Trends |
Impact |
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Rising construction activities in developing nations across the globe such as China, India among others will augment the demand for window films during the forecast period. |
Positive |
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Growing concerns regarding UV protection are likely to create opportunities for the market in the coming years. |
Positive |
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New innovations in film development like the usage of Nanotechnology have helped in market growth. Window film nanotechnology can provide multiple layers of protection. A nanotechnology-based window film can shield the interiors from 3 different components of light: Visible Light, Infra-red, and Ultra Violet Rays. |
Positive |
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The growing smart home market has worked in favor of the switchable smart film market. Companies such as ElectraTint are developing window films that are compatible with smart home systems such as Crestron, Lutron, Leviton, Savant, and Control4 |
Positive |
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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