New York, July 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Window Film Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05763778/?utm_source=GNW
Window Film Market Growth & Trends
The global window film market size is anticipated to reach USD 14.22 billion by 2027., expanding at a CAGR of 4.8% from 2020 to 2027. Increasing demand for window film across multiple end-use industries, such as residential, commercial, automotive, and marine, is anticipated to drive the industry.
North America is negatively impacted by the global COVID-19 pandemic. In countries such as U.S. and Canada, lockdown is imposed to contain the spread of coronavirus. This lockdown has negatively impacted the demand for window films in industries, such as automobile and construction. The market is expected to grow as the lockdown is lifted and cross border trade is resumed.
Due to increasing awareness regarding energy-efficient vehicles, automotive manufacturers across the globe are improvising their technologies and finding sustainable alternatives to reduce fuel consumption in vehicles, thereby reducing emissions. This, in turn, is estimated to increase demand for the product in the automotive industry.
Increasing investments to develop affordable housing schemes in emerging economies of Latin America and Asia Pacific are expected to drive the demand for window film in residential applications. Moreover, growing need for energy efficient buildings is expected to propel demand for sun control films over the forecast period on account of their ability to reduce excess sunlight penetration inside the room.
The aerospace industry utilizes the product to enhance the strength and rigidity of windows and protect interior components and furniture from outside sunlight and radiation.Moreover, these films make it easier to clean and maintain windows.
These are attractive, cheaper than decorative glasses, and lightweight, which is projected to increase their consumption in industry over the forecast period.
Window Film Market Report Highlights
• The global market is expected to witness significant growth in the forecast period owing to the ability of the product to keep the car interiors and buildings cool by absorbing or reflecting away the solar heat
• By product, decorative window films are anticipated to witness the fastest growth over the forecast period owing to increasing focus of aesthetic appeal for buildings
• The marine application segment accounted for 4.12% share of the overall revenue in 2019 and is expected to witness prominent growth over the forecast period. Innovation and new product developments in the field are expected to benefit the expansion
• Central and South America is expected to witness above average growth in the forecast period on account of growing population and surging consumer disposable income.
Read the full report: https://www.reportlinker.com/p05763778/?utm_source=GNW
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