Solar Control Window Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market for solar control window films is expected to register a CAGR of 11.76% during the forecast period). Major factors driving the market studied are growing emphasis on reducing carbon footprints and the growing construction industry in the Asia-Pacific region. The growth in the smart glass market and other aftermarket issues, such as technical, warranty, and installation issues, is expected to hinder the growth of the market studied.

• The construction industry dominated the market and is expected to grow during the forecast period, owing to the ongoing surge in the construction industry globally, especially in the Asia-Pacific region.
• Growing concerns regarding UV protection are likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.

Key Market Trends

Increasing Demand from Construction Industry

Solar control window films are majorly used in the construction sector due to their ability to reflect the heat coming from solar radiation and maintain a comfortable ambiance in terms of the temperature inside the structure or building.

Due to their transparent nature, these films or tints can be laminated on the glass surfaces present on the buildings. The other function of these films will be to hold the glass pieces together even after the occurrence of some cracks.

Under the construction sector, solar control window films are mostly used in commercial and residential buildings.

The construction spending in regions like Asia-Pacific and Middle East & Africa is increasing and the construction market is expected to grow over the forecast period.

Moreover, in North America, especially the United States, the construction market has grown during the past years and has increased the solar control window film demand in the region.

China to Dominate the Market of Asia- Pacific Region

• The Chinese solar control window films market is driven by the construction market.
• The construction market in China is the largest in the region, which is almost two times the size of the construction industry of Japan
• China's residential building sector witnessed the growth accelerate in the past few years, as greater land supply was made available, in an effort to rebalance supply and demand and dampen the overheating housing market.
• Furthermore, the energy consumption in commercial and residential buildings is also increasing in China. Air conditioners are among the prime consumers of energy these days.
• Currently, more than one trillion kilowatt-hours of electricity is consumed by residential, commercial, and industrial air conditioning annually.
• Additionally, automotive heating, ventilation, and air conditioning systems (HVAC systems) also consume a huge amounts of energy, which results in the generation of exhaust emissions. However, China is already moving ahead and is expected to surpass the United States as the world's biggest user of electricity for air conditioning, by 2020.
• The aforementioned factors are contributing to the increasing demand for solar control window films’ consumption in the region, during the forecast period.

Competitive Landscape

The solar control window film market is consolidated, with top five players accounting for about 50% of the market. The major companies include 3M, Solar Gard - Saint Gobain, Polytronix Inc., Purlfrost, and Eastman Chemical Company.

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