Window Films Market Key Findings by 2031
The Window Films Market size is projected to reach US$ 11.01 billion by 2031 from US$ 16.27 billion in 2023. The market is expected to register a CAGR of 5.0% in 2023–2031. The rise in automotive industry likely to remain key Window Films Market trends.
Window Films Market Analysis
Government of India initiatives such as Housing for All, Smart Cities Mission, and Swachh Bharat Abhiyan are projected to boost the demand for building materials in India. In residential and commercial construction, window films are highly used for aesthetic and security purposes. To properly adhere to the glass, one side of the film has an adhesive that bonds the film to the glass surface, and the other side has a scratch-resistant coating for durability. Along with this, an increase in residential construction activities is leading to increased growth for the window films market in India.
Window Films Market Overview
A window film, also known as tint, is a thin laminate film installed on the interior or exterior of glass surfaces in automobiles and boats and the interior or exterior of glass in residential and commercial buildings. It is usually made from polyester or polyethylene terephthalate (PET) due to its clarity, tensile strength, dimensional stability, and ability to accept a variety of surface-applied or embedded treatments. The window films market has witnessed significant growth owing to factors such as building & construction and the automotive industry. Window films lead to improvement in the performance and transform the appearance of commercial, industrial, and residential buildings. Additionally, window films have the ability to reject up to 97% of heat-producing IR rays and up to 99% of damaging UV rays.
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Window Films Market: Strategic Insights
Market Size Value in US$ 10,670.51 million in 2022 Market Size Value by US$ 15,724.89 million by 2030 Growth rate CAGR of 5.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Window Films Market: Strategic Insights
| Market Size Value in | US$ 10,670.51 million in 2022 |
| Market Size Value by | US$ 15,724.89 million by 2030 |
| Growth rate | CAGR of 5.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Window Films Market Drivers and Opportunities
Rise in Construction Activities
Rising consumer awareness pertaining to aesthetics, safety & security of buildings provides a significant opportunity for the window films market. Window films are typically installed on the interior side of glass, but some films can also be applied on the exterior side under special circumstances. The construction industry in various countries across the globe is rapidly growing. Rise in government investments and increase in demand for residential constructions are propelling the growth of the construction industry which in turn is boosting the window films market. Further, European countries are creating and strengthening their infrastructure by enacting reforms and legislation, which drives the growth of the real estate and infrastructure industries. According to the European Construction Industry Federation, the volume of permits for new buildings (excluding civil engineering) in Germany was US$ 130 billion in 2021, 8% more than in 2021. In North America, the construction industry is one of the significant contributors to the region's economy. According to the Associated General Contractors of America (AGC), the US construction industry constructs structures worth US$ 1.8 trillion each year. The rise in construction activities due to the increasing population and rapidly growing commercial sector across the region are driving the window films market in North America.
Growing Demand from Middle East
In the Middle East, the Saudi Vision 2031 plan is driving the growth in construction activities in the residential segments. According to Amarok in India, the sales of housing units increased in seven cities by 29%, and new launches by 51%. Along with this, the increasing investment in residential construction is instigating the growth of residential construction, leading to an increase in demand for window films. According to Statistics Canada, an agency of the Government of Canada, in 2021, the investment in residential construction was up by 28.4% to US$162.0 billion as compared to non-residential construction, having a fall in investment by 0.9%. According to the analysis by Insight Partners, the residential construction spending in the US is higher, boosting residential construction activities, in turn leading to growth for the window films market. Thus, the growing building and construction industry, along with an increased application of window films in the residential construction sector, is driving the growth of window films across the world. The rising preference and utilization of window films, owing to their advantages, such as low cost and ease of installation, is contributing to the growth of the window films market.
Window Films Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Window Films Market analysis are type and application.
- By type, the market is segmented into decorative films, safety and security films, privacy films, UV blocking films, and others. The safety and security films segment held the largest share of the market in 2023.
- By application, the market is segmented into automotive, building and construction, marine, and others. The construction segment held the largest share of the market in 2023.
Window Films Market Share Analysis by Geography
The geographic scope of the Window Films Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific has dominated the Window Films Market. The window films market in Asia Pacific has witnessed major growth in recent years, owing to the well-established construction and automotive sectors. Countries in the region are witnessing a growth in urbanization an increase in the construction and automotive sectors, which offer ample opportunities for key market players in the window films market. Asia Pacific is home to major automotive companies, including Toyota Motor Corporation, Tata Motors Ltd., Hyundai Motor Company; Nissan Motor Co., Ltd.; and Honda Motor Co., Ltd. Further, Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Window Films Market Report Scope
Window Films Market News and Recent Developments
The Window Films Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- Eastman Chemical Company (NYSE: EMN) announced it has 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. (Source: Eastman Chemical Company, Press Releases, 2023)
Window Films Market Report Coverage and Deliverables
The “Window Films Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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