Global Solar Control Films Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1,551 million by 2024 from $698 million in 2016; growing at a CAGR of 10.5% from 2016 to 2024. By geography, Asia-Pacific and North America are expected to grow at a CAGR of 11.3% and 10.9%, respectively, during the forecast period.
Solar Control Films Market(By Type: Clear Films, Dyed Films, Vacuum Coated Films, Safety Films, Decorative Films, IR Films, and Sputtered Films; By Application: Commercial Building, Residential Building, Automotive, Marine, and Other Applications;By Geography: North America, Europe, Asia-Pacific and RoW)Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
A solar control film is basically a thin coat used over windows, doors, or any transparent building surfaces to reflect sunlight and regulate the temperature inside a building. The key players in the market are offering various types of solar control films.
Reduction of carbon footprint & energy cost to drive the growth ofthe solar control films market
The factors supporting growth of the global solar control films market are reduction of carbon footprint & energy cost, growing real estate industry, infrastructural advancements in the developing nations, and rising awareness about benefits of solar control films. However, difficulty to look outside at night through these films may act as a restraint for the growth of the market. Moreover, the rising government rules and guidelines for energy conservation would provide several growth opportunities for the market in the future years.
Type, application, and geography are the major segments considered in the global solar control films market. By type, the market is bifurcated into clear films, dyed films, vacuum coated films, safety films, decorative films, IR films, and sputtered films. Further, the market is categorized by application into commercial building, residential building, automotive, marine, and other applications. By geography, the global solar control films market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Safety filmsaccounted for the largest market share in the type segment
Global Solar Control Films Market, by Type
Safety films accounted for the largest market share in 2016, in the type segment, and are expected to continue its dominance during the forecast period 2016 – 2024, owing to increasing adoption of safety films in end use industries coupled with increasing concern over security, and safety problems.
Automotiveaccounted for the largest market share in the application segment
Global Solar Control Films Market, by Application 2016 Vs 2024
Automotive accounted for the largest market share in 2016, in the application segment, and is expected to continue its dominance during the forecast period 2016 – 2024, due to its facility to protect the car interior from vanishing & making the interior environment pleasing and comfortable coupled with growing demand for fuel efficient cars.
Asia-Pacific dominated the global market with highest revenue share over the forecast period
GLOBAL SOLAR CONTROL FILMS MARKET SHARE BY GEOGRAPHY, 2016 (%)
Asia-Pacificdominated the global solar control films market with largest market share of 39.8% in 2016, and expected to continue its dominance during the forecasted period, owing to the growing demand of solar control films which is due to improved development in commercial buildings.
The major players operating in the market are Saint-Gobain, 3M Company, Eastman Chemicals Company, Garware Polyester Ltd., SunTek Window Films, Guangdong New Vision Film Technology Co., Decorative Films LLC, Vista Windows Films, and Polytronix, Inc., Madico, among others.