The global solar control films market was pegged at USD 848.1 million in 2018 and it is expected to reach USD 1,426.3 million by 2024. The increasing awareness about advantages of solar control films over normal sun reflective glass, decline of infrared emissivity and ultra-violet (UV) emissivity are some of the major factors driving the growth of global solar control films market. This market is poised to grow at a CAGR of 9.1% during the forecast period 2019–2024.
Solar control films help in cooling a building and on the other hand reducing considerable proportion of energy. As a result, this feature of solar control films has attracted large number of commercial building managers and homeowners to progressively adopt these films.
Moreover, the growing trend of consumers shifting from conventional window film to solar control films has become the most crucial aspect for the growth of solar control films market across the globe. Increased applications of these films are mostly observed in the metropolitan areas and in the regions where the citizens witness warm temperatures.
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Solar control films are excessively being adopted for the commercial purpose as it shields the building from fading of furniture, artwork and fabrics. Additionally, these films are gaining robust momentum in the automotive industry as well, since these films help in protecting the inner components and fabrics of the car thereby leading towards the accelerating growth of global solar control films market.
Moreover, all these factors are expected to drive the growth of the global solar control films market in the near future. Subsequently, while analyzing the impact analysis of solar control films it is expected that the impact of all these factors will be high globally after 2019. However, the increased identification of an appropriate film according to the climatic condition and glass specification is the major factor hampering the growth of global solar control films market. In terms of type of solar control films, safety films generated largest revenue in solar control films market in 2018 and are expected to grow at a significant rate during the forecast period.
The increasing implementation of solar control films by various government organizations and large enterprises are further expected to accentuate the growth of solar control films market globally. It helps the agencies in protecting their citizens from the extortions of any weaponry attack. This segment is also expected to witness fastest CAGR during 2019–2024 across the globe.
On the basis of application, automotive hold largest share in the solar control films market throughout the estimation period. The adoption of these films in this segment helps the auto manufacturers to develop cars for its consumers that help in reducing heat and provides comfortable ride to them.
To make the interiors of the house protected from heat and to protect the furniture from fading is the major reason for which the consumers, particularly in Asia-Pacific, are rapidly adopting these films and using for both the commercial as well as household buildings. Asia-Pacific accounted for the major share in the solar control films market in 2018 and is also expected to witness fastest growth during the forecast period 2019–2024.
The increasing demand of these films in this region is due to increasing consumer base and proliferating demand for cars from those consumers. Moreover, constant development of new commercial building in this region owing to huge population and increased disposable income is further expected to strengthen the growth of solar control films market in Asia-Pacific at a very rapid pace.
Key players in the solar control films market are investing in development of commercial and residential space along with the automotive sector in order to provide comfort in routine life to its consumers.at home and handheld devices, which is strengthening their position in the market. 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. are the key players offering solar control films in the market globally.
Global Solar Control Films Market Coverage
Type Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
Solar Control Films Market by Region
Middle East and Africa (MEA)