Home > News > Industry News > Solar Control Window Film Market Size Worth USD 959.0 Million by 2026

Solar Control Window Film Market Size Worth USD 959.0 Million by 2026

Post Time:May 27,2020Classify:Industry NewsView:921

The global Solar Control Window Film Market size is projected to reach USD 959.0 million by 2026, exhibiting a CAGR of 6.1% during the forecast period. Escalating carbon emission levels around the world will be a key factor driving the growth of this market, finds Fortune Business Insights™ in its report, titled “Solar Control Window Film Market Size, Share & Industry Analysis, By Product Type (Clear, Dyed and Vacuum Coated), By Application (Construction, Automotive and Others) and Regional Forecast, 2019-2026”.

According to the US Environment Protection Agency (EPA), carbon dioxide has the largest share of 65% in the total greenhouse gases (GHGs) emitted around the world. The majority of these carbon emissions come from transportation activities, wherein vehicles primarily depend on fossil fuel energy. To address this issue, there is a dire need to develop technologies and tools to relieve the pressure on the fast-depleting fossil fuel sources. In this context, solar window films can play a decisive role as these plastic layers efficiently absorb sun rays and prevent them from entering wholesale into a car or house, thus keeping the place cool and reducing energy consumption.

COVID-19 Impact Analysis:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

As per the report, the value of the market stood at USD 597.5 million in 2018. The other highlights of the report include:

  • In-depth analysis of the market drivers and industry trends;

  • Detailed evaluation of all the possible challenges to the market;

  • Microscopic study of all market segments; and

  • Exhaustive research into the regional and competitive dynamics of the market.

Market Driver

Extensive Benefits of Window Films for Residential Spaces to Boost Their Uptake

Solar window films offer a host of advantages for residences, especially in those regions where climates are extreme. For example, regular windows in homes lead to huge amounts of energy wastage due to their poor absorption properties. Tinted windows, on the hand, with their superior absorption and filtration qualities, can make homes energy-efficient by reducing energy consumption between 30% and 50%. Furthermore, these films also help in reducing glare and heat build-up in homes, creating a comfortable indoor environment for the occupants. Aside from their environmental benefits, solar films are also optically pleasing as they can be designed and customized according to the aesthetics of a building. Lastly, these films are important to protect skin from getting prolonged exposure to the sun’s ultraviolet (UV) rays as they provide a strong insulation from these rays, making them especially attractive in tropical and equatorial countries.

Regional Insights

Asia-Pacific to Register Fastest Growth; Europe to Grow at a Moderate Pace

Among regions, Asia-Pacific is anticipated to dominate the Solar Control Window Film market share in the forthcoming years owing to rapid growth in the construction sector in India and China, fueled by speedy urbanization in these countries. Moreover, governments in the region have made ambitious commitments to reduce their carbon footprint and are, therefore, taking required steps to achieve their targets, thereby generating lucrative opportunities for market players.

In North America, the market is expected to grow relatively slowly and will be mainly driven by the strong presence of solar film manufacturers such as Avery Dennison. The market in Europe, on the other hand, will display steady growth owing to high demand solar window films from the automotive industry.

Source: https://www.globenewswire.com/Author: shangyi

Hot News