NEW YORK, Sept. 16, 2021 /PRNewswire/ -- As per the latest insights from Fact.MR, the global window films market is estimated to expand at a CAGR of more than 5% during the forecast period, from 2021 to 2031.
According to the U.S. Department of Energy, the usage of window films improves the average energy consumption by preventing more than 30% of heat loss that takes place through doors and windows at offices and homes.
Window films assist in blocking ultraviolet (UV) rays, reducing glare, increasing energy efficiency of cooling systems and enhancing the aesthetic appeal of any building. Thus, several commercial property owners and homeowners are increasingly adopting window films, which is in turn is driving the market sales.
Recent advancements in window films technologies such as the launch of spectrally selective films and dual reflective are propelling the demand for window films across commercial and residential applications. Driven by this, the sales of window films are expected to rise by over 1.5X during the assessment period between 2021 and 2031.
Automotive applications are anticipated to account for over 1/3rd of the overall market share by the end of 2031, as per Fact.MR. Rapidly surging automotive production and increasing use of window films for preventing damages caused by flying shards are bolstering the demand across the segment.
"Window film associations such as the European Window Film Association (EWFA) and International Film Association (IFA) are creating a conducive environment for manufacturers by assisting them with knowledge transfer regarding the latest technology and government policies. Besides this, rising number of green building development projects and the construction of net-zero energy buildings will fuel opportunities for the growth of the market in the coming years," says a Fact.MR analyst.
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As per Fact.MR, leading players in the landscape are 3M, Eastman Chemical Company, American Standard Window Film, Solar Gard Performance Plastics, Madico Inc, and Toray Plastics Inc. Key players in the market are focusing on adopting organic expansion strategies such as products developed and innovation. For instance,
Some of the key players in the window films market profiled by Fact.MR are:
More Valuable Insights on Window Films Market
Fact.MR, in its new report, offers an unbiased analysis of the global window films market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in window films market with detailed segmentation:
Key Questions Covered in the Window Films Market Report
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