Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global window film market size was USD 2.14 billion in 2022. The market is projected to grow from USD 2.27 billion in 2023 to USD 3.52 billion by 2030, exhibiting a CAGR of 6.5% during the forecast period. Fortune Business Insights™ mentioned this in a report titled, “Window Film Market Size, Share, Growth and Report Forecast 2023-2030.”
Window films serve various purposes, including protecting drivers from sunlight and heat, reducing energy consumption, and enhancing safety. The increasing demand for automotive protective films, driven by a rising number of accidents, is expected to contribute to market growth.
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List of Key Players in the Window Film Market Research Report:
- 3M Company (U.S.)
- Eastman Chemical Company (U.S.)
- American Standard Window Film (U.S.)
- Madico Inc. (U.S.)
- Hanita Coatings (Israel)
- SAINT-GOBAIN (France)
- Toray Plastics (America) Inc. (U.S.)
- Armolan Window Film (U.S.)
- Reflectiv (France)
- Solar Screen International SA (Luxembourg)
Competitive Landscape:
Increasing Partnerships and Collaborations between Key Players to Augment Market Growth
Major market players, such as Eastman, Toray, 3M, and others, are focusing on partnerships and collaborative strategies to drive market growth. Increasing investments and new product launches are expected to contribute to the market's expansion
Key Industry Development:
- May 2021 – Eastman Performance Films, LLC announced that its LLumar brand would be the National Corvette Museum's favored paint protection film (PPF) brand. This collaboration aims to preserve automotive finishes with innovative technologies.
COVID-19 Impact:
Lack of Manpower During COVID-19 Pandemic Hampered Market Growth
The COVID-19 pandemic had a negative impact on the window film market. The lack of manpower, disruptions in the supply chain, and lags in the construction industry hindered market growth during the pandemic. However, as significant control of COVID-19 is achieved globally, the market is expected to recover and grow.
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Segments:
Increased Adoption of Sun Control Films to Augment Sun Control Film Segment Growth
By type, the market is segmented into sun control film, decorative film, safety & security film, privacy film, and others. The sun control film held the highest market share in 2022. The rising adoption of sun control films, offering benefits like heat reduction, energy savings, and increased comfort, is expected to boost the segment's growth.
Increasing Use of Commercial and Residential Spaces to Drive Building & Construction Segment Growth
Based on application, the market is classified into automotive, building & construction, marine, and others. The building & construction segment is estimated to grow at the fastest CAGR during the projected period owing to the increasing use of window films in commercial and residential spaces.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Rising Demand for Films in the Building & Construction Industry to Propel Market Growth
The rising demand for window-films in the building and construction industry is projected to propel the window film market growth during the forecast period. The increasing activities of window tinting, integrated with several strict government regulations for green and energy-efficient buildings, are estimated to drive market growth.
However, the increasing implementation of strict rules and policies by governments globally is estimated to hamper market growth.
Regional Insights:
Asia Pacific Dominates Due to Increasing Demand from the Building & Construction Sector
Asia Pacific dominated the market in 2022 and was valued at USD 0.87 billion. The region is expected to witness the highest growth during, driven by the increasing demand for window-films in the building and construction industry.
North America is expected to hold a significant window film market share. The growing demand for sun control films in North America, especially in vehicles, to reduce sunlight penetration is driving market growth.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Window Films Production
- Impact of COVID-19 on the Window Films Market
- Global Window Films Market Analysis, Insights and Forecast, 2023-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Sun Control Film
- Decorative Film
- Safety & Security Film
- Privacy Film
- Others
- Market Analysis, Insights and Forecast – By Application
- Automotive
- Building & Construction
- Residential
- Commercial
- Marine
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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