LONDON, Jan. 5, 2017 /PRNewswire/ -- The global window films market is expected to reach USD 13.81 billion by 2025, according to a new report by Grand View Research, Inc. Rising environmental awareness regarding carbon dioxide emissions coupled concerns related to energy efficiency are projected to drive demand.
Increasing demand from key end-use industries such as automotive, construction, and marine is a major factor that will determine future growth trajectory.Technological improvement in reducing solar heat gain & winter heat loss is anticipated to promote sustainable construction and foster consumption.
They are widely utilized to improve energy efficiency in heating and cooling purpose in residential and commercial applications. According to U.S. Department of Energy, it helps in consuming 30% of average home's heat loss occurs through windows and doors.
Recovery of automotive industry in the U.S. and parts of Europe is also expected to have a positive influence on the industry growth. However, few countries including Pakistan, Portugal and Libya have entirely banned these films in vehicles owing to increasing violence along with the ongoing threat of terrorism.
Decorative films are anticipated to witness significant growth owing to increasing demand for decorative products in construction industry. It helps to reduce energy costs, eliminates window glare, prevents the fading of carpets & furniture and adds aesthetic values.
Further key findings from the report suggest:
The global window films market size was 155,000 thousand sq. meters in 2015 and is projected to reach 240,000 thousand sq. meters by 2025, growing at a CAGR of 4.9% from 2016 to 2025
The technologies deployed for production include multi-layer nanotechnology and co-extrusion technology. Multi-layer nanotechnology based window films are made up of polyester, acrylic and polyethylene napthalate.
Canada emerged as the fastest growing country level market in North America with an estimated CAGR of 4.9% from 2016 to 2025
U.S. Department of Energy and Database of State Incentives for Renewables & Efficiency (DSIRE) provide rebates, tax credits and incentives for high-performance and energy efficient films.
Privacy films provide privacy from unmated prying eyes. It also provides aesthetic value and additional safety. This segment is forecasted to grow at a CAGR of 4.5% from 2016 to 2025.
Major companies operating in the industry include 3M, Eastman, Madico, Toray Plastics, Hanita Coatings, Johnson, Armolan, Rayno, Suntek, Reflectiv, and Nexfil.
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