Key Market Insights
"Increase use of sun control films in automotive will spur the market revenue growth"
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 growing at a CAGR of 10.5% throughout the forecast period from 2019 to 2027.
Increasing environmental concerns to reduce carbon footprint coupled with booming construction sector especially in the Asia Pacific region are some of the factors propelling the growth of sun control films market globally. A combination of benefits offered by sun control films including blocking more than 95% of ultra violet rays, save energy, less heat & more light, and aesthetic appeal among others are proliferating the demand of sun control films market. Increasing adoption of sun control films due to 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, rising automotive sector and increasing usage of sun control films in windows of automotive is further enhancing the sun control films market growth.
Additionally, the application of sun control films in residential spaces and automotive to reduce heat transfer from outside and keep the interior cool helps in increasing the fuel efficiency and energy savings from air conditioners and refrigerators. Stringent regulatory norms and initiatives taken by various governments to reduce energy consumption are factors further fueling the market demand. In addition, the properties of the sun control films such as privacy, scratch resistant, 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.
Market Synopsis
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Type Analysis
"Clear (Non-reflective) segment to dominate the market during the forecast period"
Based on type, the sun control films market is classified into clear, dyed and vacuum coated. The clear (non-reflective) segment holds the largest market share in the global sun control films market and accounted for a revenue share of approximately 40% of the global market. This can be associated to its ability to reduce the passage of ambient light when coated on both sides. These films find applications in automotive windows, residential windows, and doors among others.
In contrast, vacuum coated sun control films segment expected to grow significantly during the forecast period. These films uses techniques such as vapor deposition, e-beam, and sputtering. The benefits offered by vacuum coating includes higher solar heat control, quick curing process, quicker dry out times, and reduced period of film haziness.
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Application Analysis
"Construction segment expected to dominate the market during the forecast period"
On the basis of application, the global sun control films market is further classified into construction, automotive, decorative, others (marine, graphic, etc.). The construction segment holds the largest market share and accounted for a revenue share of approximately 40% globally. This can be associated with the benefits offered by sun control films such as enhances aesthetic appeal, increases indoor lighting, and reduces heat inside among others which in turn are having a positive influence on market demand of sun control films market.
In contrast, automotive segment is anticipated to expand with the highest CAGR during the forecast period. This can be associated with increasing application of sun control films in vehicles as it reduces the load of the vehicles air conditioner, maintains temperature inside and reduces UV rays exposure.
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Regional Analysis
"Rising infrastructural development to bolster the growth in Asia Pacific region"
In 2018, North America dominated the global sun control films market with a revenue share of approximately 35%. The US alone accounted for the major share of revenue contributing nearly 80% of the revenue in North America region. This can be associated with increasing concerns to save energy, and increasing health awareness for protection against UV rays. Thus proliferating the sun control films market demand in the region.
In contrast, Asia Pacific region continues to expand at a rapid pace in the global sun control films market. This can be associated to, rapidly increasing infrastructural development in the region, growing emphasis on reducing carbon footprint and rising concerns regarding UV protection are factors propelling the sun control films market growth in the region.
List of Companies Covered:
- Garware Suncontrol
- 3M Company
- Jupiter International
- Thermolite
- Solar Control Films Inc.
- CPF Films
- Recon Blinds
- Guangdong New Vision Film Technology Co., Ltd
- Saint-Gobain SA
- Madico Inc.
- Llumar Window Films
- Dexerials Corporation
Key Industry Development:
- In March 2019, Solar Control Films, Inc. announced the launch of its new product series of very light window films that are transparent and stops radiation of UV rays by 99%.
Historical & Forecast Period
This study report represents analysis for 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.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Type Segment (2017–2027; US$ Mn)
• Clear (Non-Reflective)
• Dyed (Non-Reflective)
• Vaccum Coated (Reflective)
|
|
Application Segment (2017–2027; US$ Mn)
• Construction
• Automotive
• Decorative
• Others
|
|
Absorber Type Segment (2017-2027; US Mn)
• Organic
• Inorganic
• Metallic
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, Russia, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall Sun Control Films market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the sun control films market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which application segment holds a larger market share and why?
- Are low and middle-income economies investing in the sun control films market?
- Which is largest regional market for sun control films?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the Sun Control Films market in 2017 and 2018
- Which are the key trends driving the global sun control films market growth?
- Who are the leading service providers in the sun control films market worldwide?
