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Solar Control Window Films Market Size, Trends, and Forecast 2024
Solar Control Window Films Market Size
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According to The Business Research Company's, The solar control window films market size has grown rapidly in recent years. It will grow from $4.17 billion in 2023 to $4.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to energy crisis awareness, building regulations, uv protection emphasis, improvement in film durability, automotive industry demand.
The solar control window films market size is expected to see strong growth in the next few years. It will grow to $6.62 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to climate change concerns, urbanization and construction boom, consumer demand for efficiency, data-driven analytics, health and comfort emphasis. Major trends in the forecast period include multifunctional films, nanotechnology integration, smart glass integration, anti-glare technologies, infrared (ir) blocking films.
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Market Drivers and Trends:
The expanding construction sector is expected to propel the growth of the solar control window film market going forward. Construction refers to the altering, building, repairing, planning, acquiring, and designing of any private or public building structure that involves the assembly and erect*ion of structures using various engineering techniques to provide better buildings and infrastructure. Solar control windows are employed in the building windows panel to limit the volume of sunlight entering an area, aiding heat reduction and UV ray blocking. This helps to minimize the use of air conditioners and operating costs, filter out UV rays from entering the room, reduce sun glare, and protect the furniture from fading. For instance, in May 2023, according to the United States Census Bureau, a US-based primary agency of the Federal Statistics, construction spending in the first three months of the year 2023 totaled $403.3 billion, an increase of 4.3 percent higher than $386.7 billion from the identical period in 2022. Therefore, the expanding construction sector is driving the solar control window film market.
Technological innovation is the key trend gaining popularity in the solar control window film market. Major players in the solar control window film market are focusing on producing novel products to improve their market position. For instance, in March 2021, 3M, a US-based company that offers solar control window film for buildings and automobiles, launched the 3M Automotive Window Film Ceramic IR Series with nano-ceramic technology. These windows reflect as much as 66 percent of the overall solar energy and protect from 99% UV radiation, lessening the sensation of the sun's heat. Its metal-free construction ensures no electronic or mobile phone interference.
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Major Key Players of the Market:
3M, Eastman Performance Films LLC., Avery Dennison Corporation, Lintec Corporation, Dexerials Corporation, SunShade Technologies Inc., XPEL Inc., Saint-Gobain, Schreiner Group, Hanita Coatings RCA Ltd., Madico Inc., Tekra LLC., Griff Paper And Film, Solar Screen International SA, Johnson Laminating And Coating Inc., Decorative Films LLC., The Window Film Company, Garware Suncontrol Film, SunTek Films, NEXFIL Co.Ltd, Purlfrost Ltd., Sunsational Solutions, Solar Control Films Inc., SolarZone, Vista Window Film, HAVERKAMP GmbH, Deposition Technology Innovations, SerraLux Inc., Sican Co. Ltd., Sican Co. Ltd.
Solar Control Window Films Market 2024 Key Insights:
• The solar control window films market size is expected to see strong growth in the next few years. It will grow to $6.62 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Solar Control Window Film Market Driven By Expanding Construction Sector
• Solar Control Window Film Market Embraces Technological Innovation
• Asia-Pacific was the largest region in the solar control window films market in 2023
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