The market for Sun Control Films Market is expected to reach USD$ 1,879.7 Mn in 2027.
The global sun control films market accounted for US$ 845.6 Mn in 2018 and is anticipated to grow to US$ 1,879.7 Mn at a CAGR of 10.5% throughout the forecast period from 2019 to 2027.
Increasing environmental concerns about reducing carbon footprint and the booming construction sector, especially in the Asia Pacific region, are some of the factors propelling the sun control film market growth. A combination of benefits offered by sun control films, including blocking more than 95% of ultraviolet rays, saving energy, less heat & more light, and aesthetic appeal, among others, are proliferating the demand for the sun control films market. Increasing adoption of sun control films due to the booming real estate sector in countries such as China, India, Indonesia, and Singapore, among others. In 2018, total construction spending in China amounted to US$ 1.78 trillion. Moreover, the rising automotive sector and increasing usage of sun control films in windows of automotive further enhance the market growth of sun control films.
Additionally, applying sun control films in residential spaces and automotive to reduce heat transfer from outside and keep the interior cool helps increase fuel efficiency and energy savings from air conditioners and refrigerators. Furthermore, various governments' stringent regulatory norms and initiatives to reduce energy consumption are factors fueling market demand. In addition, the properties of the sun control films, such as privacy, scratch resistance, safety, and cost-effectiveness, further propel the market growth. However, the rising threat of substitutes such as smart glass and issues related to warranty and installation of the films are expected to hamper the market growth.
The sun control film market is classified into clear, dyed, and vacuum coated based on type. The clear (non-reflective) segment holds the largest market share in the global sun control films market and accounts for a revenue share of approximately 40% of the global market. This can be associated with its ability to reduce the passage of ambient light when coated on both sides. As a result, these films find applications in automotive windows, residential windows, and doors, among others.
In contrast, the vacuum-coated sun control films segment is expected to grow significantly during the forecast period. These films use techniques such as vapor deposition, e-beam, and sputtering. The benefits offered by vacuum coating include the following:
On the basis of application, the global sun control films market is further classified into construction, automotive, decorative, and others (marine, graphic, etc.). The construction segment holds the largest market share and accounts for a revenue share of approximately 40% globally. This can be associated with the benefits offered by sun control films, such as enhanced aesthetic appeal, increased indoor lighting, and reduced heat inside, among others which are positively influencing the market demand for sun control films market.
In contrast, the automotive segment is anticipated to expand with the highest CAGR during the forecast period. This can be associated with the increasing application of sun control films in vehicles as it reduces the load of the vehicle's air conditioner, maintains the temperature inside, and reduces U.V. rays exposure.
In 2018, North America dominated the global sun control films market with a revenue share of approximately 35%. The U.S. alone accounted for the major share of revenue, contributing nearly 80% of the revenue in the North American region. This can be associated with increasing concerns about saving energy and increasing health awareness for protection against U.V. rays. Thus proliferating the sun control film market demand in the region.
In contrast, the Asia Pacific region continues to expand at a rapid pace in the global sun control films market. This can be associated with rapidly increasing infrastructural development in the region, growing emphasis on reducing carbon footprint, and rising concerns regarding U.V. protection are factors propelling the sun control films market growth in the region.
This study report represents an analysis of each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027 Segmentation.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall Sun Control Films market. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
The market for Sun Control Films Market is expected to reach USD$ 1,879.7 Mn in 2027.
The Sun Control Films Market is expected to see significant CAGR growth over the coming years, at 10.5%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Garware Sun Control3M CompanyJupiter International,Thermolite,Solar Control Films Inc.,CPFFilms,ReconBlinds,Guangdong New Vision Film Technology Co., Ltd,Saint-Gobain SA. are some of the major players in the global market.