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The global window films market size is expected to reach USD 2.90 billion by 2027. The growing concerns about global warming and the environment will subsequently improve the prospects of the market during the forecast period, mentioned 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 and is expected to exhibit a CAGR of 5.71% between 2020 and 2027.
Acquisition of Canadian distributors by Madico to Enable Growth
Madico Inc., a Pinellas Park manufacturer and distributor of window films announced that it has acquired two Canadian distributors Courage Distributing Inc. and Window Film Systems to make it into Madico Canada. The company will remain operational on both fronts Courage distribution sites in Oakville, Ontario, Richmond, and British Columbia to cater to the market. Courage Distributing, a Todd and Trent Courage operated business, established in 1993, deals in window film, paint protection film, and accessories. The new development will enable the Courage employees to become a part of Madico Canada with joint operations, sales, and leadership responsibilities. Window Film Systems was initiated 40 years ago. The partnership between the company will have a tremendous impact on the market owing to the fuller range of products and significantly increased marketing support from companies. Besides, the increasing plans and strategies by major companies to improve product enhancement and distribution will bolster the speedy growth of the market in the near future.
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New Reforms and Policies to Restrict Market
The increasing adoption of new technologies has led to new reforms and policies among various countries, in turn causing disruption in manufacturing processes and restricting the growth of the market. For instance, in 2017, New York implemented a new law, which involves the testing of window tint during the vehicle annual inspection. If the car resister tint more than 70% the vehicle will fail the inspection. Such regulations will dampen the adoption of films in the automotive. However, favorable laws and evolving government plans can have an outstanding effect on market growth in the foreseeable future.
Advanced Solutions by Prominent Companies to Strengthen Industry
The main players in the industry are focused on offering innovative solutions for the automotive and construction sectors. The major companies are expanding their regional presence through product launches and releases. The heavy R&D investment for advanced films can have an excellent impact on the market. Additionally, the eminent players are adopting strategies such as acquisition, partnerships, and product improvement to remain at the forefront of the market. Nonetheless, focus on strong regional presence, distribution channels, and product offerings will help to establish a strong standpoint on the market.
The Report Lists the Key Companies in the Window Films Market:
Further Report Findings:
Regional Analysis: The market in Asia Pacific is expected to dominate the global market during the forecast period owing to the rising demand from the building & construction industry. The new infrastructure projects for hospitals, schools, banks, colleges will boost the market in Asia Pacific.
Leading Segment: The building & construction segment is expected to account for the largest share owing to the demand for these films in building & construction applications because of properties such as anti-glare, durability, lightweight, and energy conservation
The Market is Segmented into:
Value (USD Billion); Volume (Million Square Meters)
Type; Application; and Geography