Solar Control Window Films Market in automotive Segment is projected to expand substantially by 2024 owing to its suitable features for vehicles exposed to sunlight. These films reflect UV rays as well as maintain the inside temperature of the vehicle and creates less load on the air conditioners. Growing automotive industry will positively influence the solar control window films market growth.
Global Solar Control Window Films Market is predicted to grow at over 11% and exceed USD 1 billion by 2024. Growing construction industry, particularly in Asia Pacific region will positively encourage solar control window films market over the forecast timeframe. In 2015, the total construction spending in China was over USD 1.7 trillion.
Ability to block over 80% of solar energy along with more than 30% savings in utility bills by lowering cooling and heating costs will stimulate the solar control window films market growth. Ambitious government targets to cut carbon emission will further complement the business landscape. In 2016, UK has set a target to cut carbon emissions to 57% on 1990 levels by 2030.
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Enhanced safety and improved quality are some of the salient features which will positively influence the solar control window films market. The product provides a shield across glass which keeps the broken glass in place if any breakage occurs. Growing demand for alternative products including smart glass to reduce the cost for air conditioning, lighting, curtains, heating or blinding of the room may hinder the solar control window films market growth. However, high price of smart glass may curb the hindrance.
Construction application in 2015, was valued at over USD 370 million in 2015 owing to its extensive application in the commercial and residential sector. Widespread product application across construction to increase the indoor lighting of the interiors with further propel the solar control window films market. Metallic absorber in 2015, was valued at over USD 640 million owing to increasing demand for improved glass designs coupled with rising decorative application.
Argentina solar control window films market in 2015, was valued over USD 20 million and is estimated to expand over 10% owing to its revised emissions reduction target. In November 2016, Argentina revised its Nationally Determined Contribution (NDC) which includes an emissions reduction target of 483 MtCO2e by 2030.
Increasing infrastructure investment along with rapid industrialization in developing nations will fuel the business landscape by 2024. Rising awareness towards safety and security in commercial, residential, and automotive sector will further stimulate the industry outlook. In July 2017, Government of UK announced to invest USD 1.94 billion in the infrastructure projects of the country. In 2015, DBSA, EU launched around USD 149.34 billion fund for infrastructure development in South Africa.
Key players in the industry include 3M, Thermolite, Llumar Window Films, CPF Films, Vista Windows Films, Johnson Window Films, Solar Control Films, Garware Suncontrol, CHB Industries, Madico, Eastman Chemical Company, Pleotint LLC, Solar Gard – Saint Gobain, Decorative Films, Deposition Technology Innovations, Polytronix and Solamatrix.