Window Films Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | > 4.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Window Films Market Analysis
The global window films market is projected to register a CAGR of over 5% during the forecast period.
- The COVID-19 pandemic adversely affected the construction industry. The industry faced challenges due to logistics and raw materials' unavailability. However, the upsurge in the automotive industry in terms of production and sales post-pandemic has propelled the industry growth.
- Over the medium term, the major factors driving the market's growth are increasing emphasis on reducing carbon footprint and increasing safety and security concerns among consumers. However, some technical expertise is required to install window films, and the technicality and installation issues need to be improved to increase the growth of the window film market.
- Furthermore, the growing concern for ultraviolet (UV) protection is projected to create new growth opportunities for the industry. The Asia-Pacific region is expected to dominate the market and will likely witness the highest compound annual growth rate (CAGR) during the forecast period.
Window Films Market Trends
This section covers the major market trends shaping the Window Films Market according to our research experts:
The Building and Construction Segment to Dominate the Market
- Window films are majorly used in the construction sector for solar control, due to their ability to reflect the heat coming from solar radiation and maintain a comfortable ambiance, in terms of the temperature inside the structure or building. Window films are majorly used in the construction sector for solar control, due to their ability to reflect the heat coming from solar radiation and maintain a comfortable ambiance, in terms of the temperature inside the structure or building.
- In the construction sector, window films, such as decorative, ultraviolet (UV) block, privacy, anti-glare, anti-graffiti, insulating films, and safety and security films, are used. The global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by countries like India, China, and the United States.
- China is in the midst of a construction mega-boom. The country has the largest building construction market in the world, making up 20% of all construction investment globally. The country alone is expected to spend nearly USD 13 trillion on buildings by 2030.
- In India, Foreign Direct Investment (FDI) received in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) up to September 2022 stood at USD 26 billion. The United States' spending on private construction grew in 2022 and was nearly four times larger than construction spending in the public sector. The United States holds a significant share of the construction industry, which recorded an annual expenditure of over USD 1,793 million in 2022.
- According to the US Census Bureau (USCB), spending on private construction was at a seasonally adjusted annual rate of USD 1,427.1 billion, 0.4 percent below the revised November estimate of USD 1,432.9 billion. Therefore, the aforementioned developments are expected to drive the demand for window films in the construction industry through the years to come.
The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market, with China and India accounting for the largest share. In the region, China is the largest economy in terms of GDP. China is one of the fastest emerging economies, and it has become one of the biggest production houses in the world today. The country's manufacturing sector is one of the major contributors to the country's economy. China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately 50% of the GDP.
- Demographics in the country are expected to continue to spur growth in residential construction. Rising household income levels combined with the population migrating from rural to urban areas are expected to continue to drive demand for the residential construction sector in the country. Increased focus on affordable housing by both the public and private sectors will drive growth in the residential construction sector.
- India is the largest market for the construction industry, with an increase in the real estate and urban development segment. According to the Indian Brand Equity Foundation (IBEF), the Indian real estate industry will likely reach USD 1 trillion by 2030 and contribute approximately 13% to the country's GDP by 2025. This will increase the demand for the window film market and propel its market in the region.
- Although the demand for the construction industry is looking good, the automotive sector in the country is also increasing with an increase in market demand after the pandemic. Automotive production witnessed 30% of growth in 2021. The volume of automobiles increased from 33.94 million units in 2020 to 43.99 million units in 2021. Moreover, in 2022, over 13 million units of two-wheelers were sold domestically across the south Asian country. The Indian government has set a target to electrify a major proportion of the two-wheelers within the nation.
- Furthermore, in China, the total volume of automobile industry sales reached 26.2 million units in 2021, around 21.5 million units of which were passenger cars. The leading automobile manufacturer in China was SAIC Motor Corporation, with around 2.76 million units sold in 2021. In April 2022, approximately 9.65 million units of passenger cars and 2.16 million units of commercial vehicles were sold in China.
- Due to all such factors, the market for window films in the region is expected to have steady growth during the forecast period.
Window Films Industry Overview
The global window films market is fragmented, with the top two companies holding significant shares in the global market while the rest of the companies hold a limited share in the market. Some of the major players in the market include Eastman Chemical Company, 3M, Avery Dennison Corporation, Saint-Gobain, and Lintec Corporation, among others.
Window Films Market Leaders
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Eastman Chemical Company
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3M
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Avery Dennison Corporation
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Lintec Corporation
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Saint-Gobain
*Disclaimer: Major Players sorted in no particular order
Window Films Market News
- February 2023: Eastman Chemical Company acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia-Pacific region. This acquisition demonstrates Eastman's commitment to driving growth in performance films and the paint protection and window film markets. The investment further strengthens the company's ability to deliver consistent, superior value as a specialty materials company and expands the service level in China and the Asia Pacific region. This site will align with Eastman's performance film operations and its high standard of quality supply into the market.
- April 2022: Avery Dennison introduced its all-new Dusted Crystal decorative architectural window film. The frosted film, available in a matte and luster finish, offers privacy while providing a translucent light effect for interior environments using glass to signify specially-designated spaces. The film features a remarkable, first-to-market, wet-apply quick-release adhesive that allows the film to be repositioned during installation and removed easily after drying with virtually no residue left on the glass. Moreover, the film's adhesive doesn't stick to itself, eliminating mishaps when removing the film from its liner before application.
Window Films Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Safety and Security Window Films
4.1.2 Increasing Emphasis on Reducing Carbon Footprint
4.2 Restraints
4.2.1 Technical, Warranty, and Installation Issues
4.2.2 Growing Smart Glass Market
4.2.3 Decreasing Automotive Production
4.2.4 Unfavorable Conditions Arising due to the COVID-19 Impact
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 UV Blocking Films
5.1.2 Decorative Films
5.1.3 Safety and Security Films
5.1.4 Privacy Films
5.1.5 Insulating Films
5.1.6 Other Types
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Building and Construction
5.2.2.1 Residential
5.2.2.2 Commercial
5.2.2.3 Infrastructural and Institutional
5.2.3 Marine
5.2.4 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Australia & New Zealand
5.3.1.6 ASEAN Countries
5.3.1.7 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Spain
5.3.3.6 Nordic Countries
5.3.3.7 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 South Africa
5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Armolan Greece
6.4.3 Avery Dennison Corporation
6.4.4 Eastman Chemical Company
6.4.5 HYOSUNG CHEMICAL
6.4.6 Johnson Window Films Inc.
6.4.7 LINTEC Corporation
6.4.8 NEXFIL
6.4.9 Rayno Window Film
6.4.10 Saint-Gobain
6.4.11 TORAY INDUSTRIES INC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Concerns Regarding UV Protection
Window Films Industry Segmentation
Window films are a type of glass treatment put on windows and other glass surfaces to reduce the amount of solar heat transmitted through the glass.
The global window film market is segmented by type, end-user industry, and geography. By type, the market is segmented into UV-blocking films, decorative films, safety and security films, privacy films, insulating films, and other types. By end-user industry, the market is segmented into automotive, building and construction, marine, and other end-user industries. The report also covers the market size and forecasts for the window films market in 18 countries across major regions.
For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
Type | |
UV Blocking Films | |
Decorative Films | |
Safety and Security Films | |
Privacy Films | |
Insulating Films | |
Other Types |
End-user Industry | |||||
Automotive | |||||
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Marine | |||||
Other End-user Industries |
Geography | |||||||||
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Window Films Market Research FAQs
What is the current Window Films Market size?
The Window Films Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in Window Films Market?
Eastman Chemical Company, 3M, Avery Dennison Corporation, Lintec Corporation and Saint-Gobain are the major companies operating in the Window Films Market.
Which is the fastest growing region in Window Films Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Window Films Market?
In 2024, the Asia Pacific accounts for the largest market share in Window Films Market.
What years does this Window Films Market cover?
The report covers the Window Films Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Window Films Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Window Films Industry Report
Statistics for the 2024 Window Films market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Window Films analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.