Pune, Nov. 02, 2020 (GLOBE NEWSWIRE) -- The global window film market size is expected to reach USD 2.90 billion by 2027, exhibiting a CAGR of 5.71% during the forecast period. The introduction of new windows films with high aesthetics will foster healthy growth of the market, states Fortune Business Insights, in a report, titled “Window Film Market Size, Share & COVID-19 Impact Analysis, By Type (Sun Control Films, Decorative Film, Safety & Security Film, Privacy Film, and Others), By Application (Automotive, Building & Construction, (Residential and Commercial), Marine and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 2.44 billion in 2019.
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The report on the window film market features:
- Exceptional insights into the market
- All-inclusive facts and figures
- Latest industry development
- Data about the prominent players
- Dominating regions in the market
- COVID-19 Impact
Market Driver:
Emphasis on Energy Efficient Buildings to Stimulate Growth
The growing focus on eco-friendly and energy-efficient buildings will enable speedy expansion of the market. The high demand for energy-efficient constructions is due to increasing global warming and climate change, in turn, augmenting the growth of the market. Furthermore, the utilization of window films reduces energy consumption by 35% while also improving ambient cooling drastically. Films are designed to diminish energy consumption and CO2 emissions of buildings, thus benefiting the environment. Moreover, increasing infrastructure development can spur opportunities for the market in the forthcoming year. Likewise, the stringent government regulations for the construction of green buildings will consequently aid the expansion of the market.
Slashed Car Sales to Badly Affect Market During COVID-19
The massive drop in car production and sales has negatively impacted the global market. The disruption caused by coronavirus on manufacturing plants and factories will dampen the growth of the market. The stringent regulations implemented by governments will further thwart the development of the market. The declined footfall in car showrooms is expected to inhibit the growth of the market amid coronavirus. Additionally, the deteriorating demand for passenger cars in various regions of the world will simultaneously dwindle the market. However, the businesses are expected to recover in the coming months, which, in turn, will aid the retention of the market.
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Regional Analysis:
Window Retrofitting Activities to Promote Market in North America
The market in North America is expected to hold the largest share in the global market during the forecast period owing to the high demand for sun control films to limit the penetration of sunlight vehicles in the region. Moreover, increasing window retrofitting activities will influence the healthy growth of the market in the region. Europe is expected to hold a significant share owing to the increasing demand for automotive films in various countries such as Germany, France, the UK, and Russia. Furthermore, the demand for glass facades and curtain walls will fluence a healthy growth of the market in Europe. Asia Pacific is expected to witness a high growth rate owing to increasing constriction activities in the developing nations.
Key Development:
August 2018: XPEL, Inc., a supplier for paint protection and windows films, acquired three franchisees of Protex and also the assets from E-shields Heaths. The company aims to re-brand and commercialize the products as a part of the company’s version of the architectural business through this acquisition.
List of the Leading Companies Profiled in the Global Window Film Market are:
- 3M Company
- Eastman Chemical Company
- American Standard Window Film
- Madico Inc
- Hanita Coatings
- Solar Gard Performance Plastics
- Toray Plastics (America) Inc.
- Armolan Window Film
- Reflectiv
- Jupiter International
- Other
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/window-film-market-102081
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Window Films Production
- Impact of COVID-19 on the Window Film Market
- Global Window Film Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Sun Control Film
- Decorative Film
- Safety & Security Film
- Privacy Film
- Others
- Market Analysis, Insights and Forecast – By Application
- Automotive
- Building & Construction
- Residential
- Commercial
- Marine
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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