|Status : Published||Published On : May, 2023||Report Code : VRCH2074||Industry : Chemicals & Materials||Available Format :||Page : 153|
The global solar control films market was valued at USD 0.96 billion in 2022 and it is expected to grow at a CAGR of 9.1% during 2023–2030. The increasing solar control film is a thin film that is mounted on the window glass to eliminate heat transmission by replicating visible light, infrared, and ultraviolet (UV) rays entering through the window. Moreover, solar control film provides effective solutions for monitoring the excessive temperature during the summer.
They also work on the ideologies of convection and radiation that help in the reduction of heat movement. The growing attentiveness to the benefits of solar control films over sun reflective glass, reduction in energy cost, carbon emissions, and decline in UV rays and IR emission are the major driving factors influencing the growth of the global solar control films market.
Insight by Type
On the basis of type, the solar control films market is segmented into sputtered films, clear films, vacuum-coated films, dyed films, safety films, IR films, and decorative films. Of all these types, safety films will become the largest market by 2030 due to their extensive implementation by several government agencies and large organizations across the globe. Additionally, safety films are used by these organizations to protect citizens from the threats of flying glass remains at the time of any weaponry violence. As a result of its increased popularity safety films are also expected to witness the fastest CAGR during the forecast period globally thereby contributing towards the growth of the solar control films market.
Insight by Application
The global control films market by application is segmented as automotive, commercial building, marine, residential building, and other applications. Amongst all the applications, automotive is the largest user of solar control films both in the historical as well as in the forecasted period. The implementation of these films in the car helps in eliminating heat in the car thus making it more comfortable for the rider.
Moreover, this process is directly proportional to the use of fuel as less heat will reduce the use of air conditioning overutilization in the car. Solar control films make the car UV protected and help in reducing fade and glare, as a result, these films are gaining huge popularity amongst the automotive manufacturers and hence make the car journey for the passengers more peaceful and satisfactory. However, the commercial building segment of the solar control films market is expected to witness the fastest growth during the forecast period.
The reduction of energy cost, UV (ultra-violet) emissivity, carbon footprints, and infrared emissivity is expected to drive the growth of the global solar control films market. Moreover, the increasing awareness about the advantages of solar control films over normal sun reflective glass is the major factor contributing to the growth of this market globally. Solar control films are increasingly being implemented for commercial purpose as they helps block almost 99 percent of UV rays from entering a building which helps reduce fading of furniture, fabrics, and artwork.
These films are increasingly being adopted by the automotive sector as well and they help protect the interiors of the vehicles by reducing the fabric and inner components to fade over a period of time. All these factors are collaborating and thus making the demand for solar control films market potentially strong across the globe.
The increased identification of an appropriate film according to the climatic conditions and glass specification is the major factor hampering the growth of the global solar control films market. Films with dark tint considerably affect the vision of individuals living inside the house. According to a study, there are several homeowners associations that forbid shiny outer coats on the window and other such alternations in the presence of commercial buildings.
Globally industry players of solar control films are leveraging market growth through distribution centers that provide films for glass windows. The suppliers of this market distribute premium quality materials that help in fulfilling the basic requirements of several segments such as automotive, commercial building windows, safety film needs, architectural, and home.
Geographically, Asia-Pacific accounted for the largest share of the solar control films market and is also expected to witness the highest growth during the forecast period. This increasing demand is particularly observed due to the constant revamping and development of commercial buildings in this region. Solar control films are excessively being used for UV protection, decoration, security, and privacy purposes in commercial spaces such as offices, hospitals, and malls. Moreover, Asia-Pacific comprises of largest consumer base in the automotive industry and the demand for cars is directly proportional to the demand for solar control films in this region.
Market players in the solar control films industry are focusing on providing maximum comfort both in residential, commercial, and traveling spaces to their customers. Some of the key players in this market are Garware Suncontrol, 3M Company, Decorative Films LLC, Madico Inc., Hanita Coatings RCA Ltd., Eastman Chemicals Company (LLumar), Nexfil USA, CHB Industries, SunTek Window Films, Wintech Company Ltd., Johnsons Window Films Inc., and Saint-Gobain SA.
PRIMARY RESEARCH INTERVIEWS – BREAKDOWN