by The global windows films market comprises films such as sun control films, decorative films, safety & security films, and privacy window films installed on automotive, architectural, and marine glass surfaces. Windows films are widely used in automotive applications to reduce glare, minimize heat transfer from the sun, and provide privacy. They help in blocking UV rays and lowering vehicle cabin temperature. Windows films provide excellent transparency and allow natural light transmission while protecting occupants from external noise, bright light, and hazardous UV rays.
The global windows films market is estimated to be valued at US$ 2.95 billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing automotive production acts as a key driver for the growth of the global windows films market. As per the International Organization of Motor Vehicle Manufacturers (OICA), global passenger car production increased from around 73.5 million units in 2017 to more than 80 million units in 2021, and it is expected to grow further in the coming years. Since windows films are widely used in automotive applications for benefits such as heat rejection, UV protection, and privacy, increasing vehicle production fosters the demand for windows films. Another driver for the market growth is growing construction activities. The construction of new residential and commercial buildings incorporates windows films for aesthetic appeal, thermal insulation, and security purposes.
However, the high installation and maintenance costs associated with windows films may hamper the market growth over the forecast period. Further, stringent environmental regulations regarding the use of plastic films may restrict the demand for plastic-based windows films.
Segment Analysis
The global windows films market is dominated by the solar control films sub-segment, which holds around 45% of the total market share. Solar control films are extensively used in commercial, automotive and construction applications due to their properties of reducing solar heat gain and glare while maintaining visual and light transmission. They help in regulating the indoor temperature without compromising the view. Other major segments include safety and security films, decorative films and privacy window films.
PEST Analysis
Political: The implementation of stringent regulations regarding energy efficiency in buildings by governments worldwide is positively impacting the demand for window films. For instance, Europe has enforced energy performance of buildings directives to reduce the energy consumption of buildings.
Economic: Growth in the construction industry along with rising disposable incomes is fueling the sales of window films globally. Furthermore, lower operating costs achieved due to energy savings provided by these films are encouraging commercial establishments to use them.
Social: Increasing consumer awareness about benefits of window films such as UV protection, safety and security is driving their adoption. Moreover, changing aesthetics trends are propelling the decorative window films market.
Technological: Advancements in film production technologies have led to thinner, more durable and efficiently performing films. Introduction of advanced multilayer metallized films with infrared reflecting technology provides effective insulation.
Key Takeaways
The Global Windows Films Market Size is expected to witness high growth over the forecast period.
China represented the largest and fastest growing national market in the Asia Pacific region. Availability of cheap labor and raw materials along with presence of leading domestic players has made China an attractive production base for window films.
Key players operating in the window films market are New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co., Ltd., Industrias Roko, S.A., Neogen, Merck Group, Agarindo Bogatama, Setexam, and Norevo GmbH. New Zealand Manuka Group specializes in production of medicinal-grade manuka honey for wound care and skincare applications. Among all, 3M, Eastman and Madico are some of the prominent manufacturers present in this space. These players have been focusing on new product developments and geographical expansion to maintain their footprint in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
