Considering the product segmentation, solar control window films market is mainly divided into vacuum coated, dyed, high performance films, and clear window films. Vacuum coated solar control window films industry will record an annual growth rate of more than 11% over the coming years of 2016 to 2024, primarily driven by its key properties such as consistent coating and high reflectivity.
Positive infrastructure spending trends coupled with rapid industrialization China, Japan, and India will drive solar control window films market growth. For example, China’s construction spending was above USD 1.7 trillion in 2015. Increasing awareness regarding safety and security in residential, commercial, and automotive sector may boost product demand. Window films offers enhanced safety by forming a shield and keeps broken part in place after breakage. However, growing smart glass demand to reduce energy bills may hinder solar control window films market growth.
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Solar control window films market is depicting an exponential growth globally, owing to the increased temperature gradient as a result of global warming. Now a days, it is extensively used in all the building constructions to create a protective layer between the building’s furnishings and harmful UV rays. As per the report by Global Market Insights, Inc., “Worldwide solar control window films industry was worth USD 640 million in 2015 and will register an annual growth rate of more than 11% over the coming year.” In addition, usage of window film eliminates the danger and damage caused due to broken glass during any natural disaster and accidents like storms, earthquakes, and chemical explosion etc. This, in turn, will favorably influence solar control window films industry share.
Solar control window films market size in terms of absorbers is further classified into organic, metallic, and inorganic ceramics. Organics accounted for more than 35% of global revenue in 2015 and are projected to expand at over 10% CAGR.
Solar control window films market in construction applications were valued at over USD 370 million in 2015 and will remain largest revenue contributors due to increasing demand across residential and commercial buildings. Automotive applications are forecast to experience highest gains owing to growing automotive sector.
Geographically, Asia Pacific solar control window films market will generate a revenue of USD 540 million by 2024. The huge investment in the automotive and construction sector will augment the industry growth. India and China will be the major revenue contributors toward the development of the APAC market.
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North America solar control window films industry was worth more than USD 155 million in 2015 and will register substantial growth rate over the period of 2016 to 2024. High demand for energy conservation coupled with increasing health awareness are estimated to be the prime drivers of the regional growth. U.S. is projected to be the major regional revenue pocket.
Glimpse of Table of Content (ToC)
Chapter 3. Solar control window films Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.4 Technology landscape
3.5. Industry Impact forces
3.5.1. Growth drivers
184.108.40.206. Increasing concern on reducing carbon footprint
220.127.116.11. Growing construction industry in APAC
18.104.22.168. Rising need for safety and security.
3.5.2. Industry pitfalls & challenges
22.214.171.124. Threat of substitute from smart glass
126.96.36.199 Issues related with warranty and installation
3.6. Growth potential analysis
3.7. Porter’s analysis
3.8. Company market share analysis, 2015
3.9. PESTEL analysis
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