The new report by Expert Market Research titled, 'Global Window Film Market Report and Forecast 2021-2026', gives an in-depth analysis of the global window film market, assessing the market based on its segments like type, applications, and North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2021)
- Forecast CAGR (2021-2026): 5.0%
In developing regions, the booming construction industry is expected to strengthen product demand. Over the forecast period, rising demand for films in commercial and residential applications is expected to spur market development. Increasing tinting practices on existing windows are expected to drive product demand in residential applications, including strict regulations on constructing green buildings. Growing worries about climate change and increasing awareness of environmental disturbances have contributed to an increase in the window film industry. One of the key factors driving the growth of the window film market would be the growing demand for vehicles. The growing volume of passenger and commercial vehicle sales would have a positive impact on the growth of the window film industry. Growing UV safety issues are likely to generate opportunities for the industry in the coming years.
Industry Definition and Major Segments
Window film refers to a thin window coating layer that is installed to provide several advantages of high value. Window films, due to advances in technology, deliver energy savings, neutral carbon footprint, UV protection, glare reduction, security advantages, and provide aesthetic appearance.
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Window films can be segmented on the basis of type into:
- Sun Control
- Privacy Films
- Decorative Films
- Safety and Security
- One Way Mirror
- Insulating Films
Based on applications can be segmented into:
- Building and Construction
- Infrastructural and Institutional
The regional markets for window films can be categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Over the projected era, North America is expected to lead the industry. This is also attributed to new developments in the area, representing a rebound in residential and non-residential construction in Canada, due to cost cuts in the oil and gas industry, and thus the fiscal stimulus of the Liberal Government decides to stimulate new non-residential construction.
Over the forecast era, Asia Pacific is projected to experience the fastest growth. Due to increasing urbanisation, the construction industry within the Asia Pacific is expanding rapidly, particularly in emerging economies such as China, India, Indonesia, Vietnam, among other Southeast Asian countries. The market is expected to grow rapidly in these countries, with a strong demand for affordable housing and government schemes supporting basic services, such as food and shelter.
Key Market Players
The major players in the market are 3M, Saint-Gobain Performance Plastics Corporation, Madico Inc., Eastman Chemical Company, Johnson Window Films, Toray Industries Inc., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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