Sun Control Films Market Overview
The global sun control films market size is anticipated to be valued at US$ 6.3 Billion in 2022 and US$ 9.7 Billion in the forecast period from 2022 to 2032. It is set to exhibit growth at a CAGR of 5.8% by 2032. The high demand for smart glasses in developed countries is anticipated to drive the sales of sun control films in the assessment period.
Sun control films are plastic films that are applied on glasses of windows to lower the heat transfer from outside. These are extensively utilized in vehicles to prevent excessive heat from entering inside. These can reduce the load on air conditioners at homes by blocking heat from the outside.
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Increasing concerns associated with the harmful effects of UV rays are estimated to augment the global sun control films market share in the future years. According to the World Health Organization (WHO), UV rays can often lead to non-melanoma skin cancers and photoconjunctivitis. Hence, the need to prevent these serious health issues related to UV exposure is a significant factor that is set to propel the market.
On the other hand, the booming construction industry worldwide is likely to boost the demand for sun control films as these can create a comfortable ambiance inside buildings. These can also hold the glass together even after the appearance of cracks.
Which are Some Prominent Drivers Spearheading Sun Control Films Market Growth?
The rising number of several energy-conservation initiatives by government and private agencies, such as environmentally friendly structures and green buildings across the globe is expected to boost the demand for smart glass, thereby propelling the adoption of sun control films.
Governments of numerous developed countries are also offering incentives and mortgage schemes for encouraging people to buy green homes and adopt eco-friendly products, including smart glass. These glasses have excellent 3D design proposition and high acoustic, as well as thermal insulation.
These are often fitted in place of the usual glasses into skylights, windows, partitions, and doors. These deliver better sunlight control and are capable of preventing high indoor temperatures throughout the summer season, thereby lowering the building’s overall energy cost. These factors are anticipated to push the sales of sun control films in the evaluation period.
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What are the Challenges Faced by the Sun Control Films Industry?
In emerging economies, many homeowners are skeptical of various benefits that sun control films provide. Thus, the lack of awareness about these products may hamper the growth in future. These films are sometimes difficult to install in case of varied frames, latches, and window lites.
Wrong installation can leave the glass looking uneven and bubbly. Spurred by the aforementioned factors, the demand for sun control films may get obstructed in the coming years.
Why is Asia Pacific Emerging as an Opportunistic Sun Control Films Market?
Asia Pacific is anticipated to dominate by procuring the largest sun control films market share in the upcoming years. This growth is attributable to the rapid expansion of the construction sector in China and India.
The high demand for residential and commercial buildings in these countries is expected to augur well for Asia Pacific. As per the India Brand Equity Foundation (IBEF), after the agriculture sector, the real estate industry is the second-largest employment generator in India.
The industry is estimated to exceed US$ 9.30 billion in 2040 from US$ 1.72 billion in 2019. This trend is set to continue throughout the forthcoming years, thereby bolstering the market in Asia Pacific.
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How is North America Contributing to the Growth of the Sun Control Films Market?
North America is anticipated to showcase a steady growth rate in the near future owing to the presence of numerous renowned manufacturers, such as Avery Dennison Corporation and 3M in the U.S.
These companies are likely to come up with state-of-the-art products in the market to cater to the ever-increasing demand from end-use industries.
The ongoing expansion of the automotive industry in the U.S. is another major factor that is set to bode well for the North America sun control films market growth. In February 2022, for instance, Limitless Wraps, a Canada-based company announced that it is now providing all types of window film services, such as car windshield tinting and window tinting in San Antonio. The launch of similar other services by leading players is projected to augment the market in North America.
Market Competition
The global market is highly competitive with the presence of a large number of regional and international players. Some of the renowned players operating in the global sun control films market are Avery Dennison Corporation, 3M, Garware Suncontrol, Saint-Gobain, LLumar Films (Pty) Ltd., LINTEC Corporation, Nexfil USA, Solar Control Window Film Inc., Dexerials Corporation, Eastman Performance Films LLC, HAVERKAMP GmbH, Recon Blinds E&B Co., Ltd., and Madico Inc. among others.
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Most of the leading companies are striving to broaden their businesses in various parts of the globe by forming alliances, such as joint ventures, acquisitions, and partnerships with local and well-established players.
Meanwhile, a few others are increasingly focusing on new product launches and capacity expansions to meet the high unmet demand for sun control films worldwide.
Key Segments Profiled in the Sun Control Films Industry Survey
By Film Type:
- High-performance Films
- Vacuum Coated (Reflective)
- Dyed (Non-reflective)
- Clear (Non-reflective)
- Other Film Types
By Absorber Type:
- Inorganic/Ceramic
- Organic
- Metallic
By End User:
- Design
- Marine
- Automotive
- Construction
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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