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 global window film market size was USD 2.44 billion in 2019, and it is projected to reach USD 2.90 billion by 2027, exhibiting a CAGR of 5.71% during the forecast period.

Advancement in technology has been a game-changer for manufacturers in the industry. Window films have solutions for a wide range of applications involving the security & privacy of automotive. The introduction of innovative films with improved color and shades to match the aesthetic requirements of the customers will expedite business growth. In recent years, there has been an inclination towards infrared films and the developed markets offer various growth opportunities for infrared film selection.

Shrinking Automotive Industry to Drastically Impact Market due to Covid-19

The automotive industry has been facing many challenges before the COVID-19 hit and this pandemic situation made the scenario worse. The deteriorated demand for cars even after the lockdown can thwart the adoption of films during the pandemic. Moreover, the production facility has been impacted severely and it is likely to have a rather lasting effect on the auto industry. For instance, in the UK the automotive demand was down straight to 95% in April and 90% of the manufacturing capacity is currently idle. Moreover, recent statistics show a 23% decline in vehicle sales in the US from Jan-August 2020.

LATEST TRENDS

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Use of Automotive Films in the Automobile Sector is a Key Trend

Automotive windows films have become one of the top automotive aftermarket products in the industry. According to the Auto Care Association, there have been more than 500,000 independent U.S. based manufacturers, part stores, repair shops, and distributors. The demand for the windows films are rising due to the increase in the number of accidents as direct sunlight can damage passengers’ skin and high temperature can lead to system failure. Moreover, films solve numerous problems of drivers, which include bright sunlight, shining windows, and heat which fades or cracks the interior.

DRIVING FACTORS

Growing Demand for Energy-Efficient Buildings to Drive the Market

The rising importance of energy consumption is a vital factor in driving the global market. The demand for energy-efficient buildings is increasing due to the limited availability of resources and extensive environmental effects, such as global warming and various climatic changes. Buildings consume a significant amount of energy that adds extra CO2 to the atmosphere. A study conducted by the University of West London in the UK has revealed that the building emissions CO2 emissions account for at least 43% of the total emission; of which window façade systems account for 60% of the building energy losses. Further, the study suggests that the usage of these films decreases the annual cooling energy consumption by 35% and a 2% increase in annual heating energy cost. Moreover, these films are also called E-films as they save energy.

Additionally, the increasing demand for films in the building & construction industry is expected to the growth of the market. An increase in window tinting activities, coupled with stringent government regulations for green & energy-efficient buildings, is expected to drive the market.

RESTRAINING FACTORS

Recurrent Change in Regulations to Confine Market Growth

The industry has been constantly into changing phases due to the adoption of new technologies. Different countries, even different states have various rules and policies, hence, this exerts massive pressure on the manufacturers as they have to alter the manufacturing process in order to meet the varying requirements. For instance, in 2017, New York implemented a new law testing the vehicle window tint during the vehicle annual inspection. If the car register tints more than 70%, the vehicle will fail the inspection and will be penalized. Moreover, in emerging countries like India, vehicle laws are also getting stricter. According to the Motor Vehicles Act, the front and rear windshield should be over 70% VLT (visual light transmission), which means no more than 20% tinting is permissible as per laws. This confines the market growth with strict and varying norms.

SEGMENTATION

 By Type Analysis

Sun Control Films Segment is Expected to Generate the Highest Revenue During the Forecast Period

Sun control films holds the largest window film market share in the global market. Sun control films reduce heat transfer from outside, provide comfort, and save energy along with protecting homes and offices. Sun control offers a solution to problems such as glare, fading, and the amount spent on the air conditioner. It protects and extends the life of furnishing and also protects the human skin from harmful UV rays of the sun. Usually, it cuts down 78% of the heat coming from the sun through windows and hence controls the number of units consumed by air conditioners. Conversely, it also prevents heat loss by reflecting heat by 35% in the room.

Decorative films are the most commonly used film to enhance the look of windows. Decorative films are usually used in the interiors, such as partitions, balconies, doors, glasses, and windows. Decorative films give a beautiful look to the windows by reducing the visibility through the glass. Decorative films are durable and also removable, which provides an option to change the design.

By Application Analysis

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Building & Construction Segment to Exhibit a Significant CAGR During the Forecast Period

The building & construction segment held the largest share in the global window film industry. In the building & construction, it is used for commercial as well as residential applications. In most residential and commercial applications, decorative, solar, security, and specialty films are used. The demand for these films for building & construction applications is increasing owing to its properties such as protection against UV rays, anti-glare, durability, lightweight, and energy conservation.

Films also have prominent applications in the automotive sector. The market for automotive films is driven by the increase in concern for safety, privacy, and security. Furthermore, the rise in demand for electric vehicles and the emerging government regulations in major countries such as the U.S., Germany will aid market growth.

REGIONAL INSIGHTS

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North America is expected to hold a prominent share in the market for window films. The demand for sun control film is highest in this region to reduce the penetration of sunlight in the vehicles. Also, the window retrofitting activities in this region are expected to drive the market in this region.

Asia Pacific is anticipated to remain a key region in this market during the forecast period owing to the rising demand from the building & construction industry. The rise in the building activities such as hospitals, schools, banks, colleges had witnessed the increase in growth from the past decade. Countries such as China and India have been witnessing a rapid improvement in terms of infrastructural developments, supported by the current government. Asia-Pacific is the largest producer as well as consumer of films with China as the largest producer country of window films. Asia Pacific is expected to witness the highest window film market growth across the globe.

On the other hand, Europe is projected to witness significant growth in the window film market. The increasing demand for automotive films is expected to drive the market. Also, an increase in demand for glass façade and curtain walls is expected to drive this market.

In Latin America, Brazil is expected to drive this market as the most prominent automotive manufacturers such as Fiat Chrysler Automobiles NV, General Motors Co, and Ford Motor Co. are present in this region. Furthermore, the new energy-efficient code for commercial and public service building by the government of Brazil for energy conservation is expected to drive the market.

The Middle East & Africa would showcase inclining growth in this market due to the high production and consumption of windows films in the automotive industry in this region.

KEY INDUSTRY PLAYERS

Market Players to Strengthen Position by Offering Innovative Film Solutions

The major producers of window films are located in the Asia Pacific leading to a fragmented market. The producers located in North America and Europe are aiming to increase their presence in various countries in the Asia Pacific to strengthen their position in the market and to drive the business growth of their respective organizations. The key players in the market have, therefore, developed strong regional presence, distribution channels, and product offerings. For instance, in November 2019, 3M launched a new automotive window film ceramic IR series, which has been developed using nano-ceramic technology that allows high levels of infrared heat rejection. Also, the film does not interfere with vehicle electronics. Such innovative products are expected to create lucrative growth opportunities in the coming years as vehicles are about to get more digitally equipped with sensors and systems that can be connected to 5G networks.

List of Key Companies Profiled:

• 3M Company (U.S.)


• Eastman Chemical Company (U.S.)


• American Standard Window Film (U.S.)


• Madico Inc. (U.S.)


• Hanita Coatings (Israel)


• Solar Gard Performance Plastics India)


• Toray Plastics (America) Inc. (U.S.)


• Armolan Window Film (U.S.)


• Reflectiv (France)


• Jupiter International (India)


• Other

KEY INDUSTRY DEVELOPMENTS: 

• May 2021 - Eastman Performance Films, LLC announced that LLumar would be the favored paint protection film (PPF) brand of the National Corvette Museum. The National Corvette Museum is steadfast to conserve Corvettes' past, present, and future, and LLumar PPF is dedicated to preserving automotive finishes with their innovative technology.


• January 2021 - American Window Film collaborated with 3M Authorized Window Film dealers to install 3M safety & security film on glass doors and windows of school districts. The company is aiming to secure most precious resource of the nation with the help of 3M security films.


• August 2020 - Madico Inc., one of the world's largest manufacturers of groundbreaking window film, coating, metallizing, and laminate quick fixes, confirmed a company restructuring to ramp up product innovation in the window film and specialty solutions divisions.

REPORT COVERAGE

An Infographic Representation of Window Film Market

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A growing trend is observed in the penetration of this market across the industries. The report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments that exist in the market. This market is segmented by type, application, and geography. Also, the report offers insights into key market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.

Along with this, this market research report provides an elaborative window film industry analysis with market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.

Report Scope & Segmentation