Press release
Asia Pacific solar control window films market to hit $540 Million by 2024
Fractovia.Org
Asia Pacific solar control window films market, which contributed more than 30% toward global solar control window films market share in 2015. Rise in the vehicle production & sales along with large-scale construction projects will positively impact the industry revenue across the region. China and India are likely to be the key growth drivers.
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Solar control window films find wide range of applications across the graphics, marine, construction, and automotive sectors. Solar control window films market size in the automotive sector is expected to record a CAGR of 11% over the period of 2016-2024, owing to the product’s ability to maintain the vehicle cabin temperature through UV ray reflection. Construction applications, worth more than USD 370 million in 2015, are predicted to dominate the application landscape over the coming years. The rapid surge in the industry revenue can be attributed to the rise in the product demand across commercial as well as residential constructions.
Solar control window films market in North America, which was estimated at USD 155 million in 2015, is set to witness a significant development over the years ahead. The extensive requirement for power conservation is expected to spur the regional growth. The U.S. solar control window films market is expected to majorly impact the overall regional revenue.
Vacuum coated films, clear films, high performance films, and dyed films are the major solar control window film products. Vacuum coated solar control window films market, which led the product landscape in 2015, is projected to display a CAGR of more than 11% over the coming timeline. The product’s ability to provide excellent reflectivity and symmetrical coating will spur the industry revenue.
Solar control window films make use of metallic, organic, and inorganic absorbers to absorb the UV rays of the sun. Organic absorbers, which contributed over 35% toward global solar control window films industry revenue in 2015, are forecast to grow at a rate of over 10% during 2016 to 2024. They are rampantly used in safety films to protect glass from cracking due to excessive heat. Metallic absorbers, worth USD 640 million in 2015, are set to expand at a rate of more than 11% over the next few years with its enhanced use across various decorative structures.
Madico Inc., Llumar Window Films, Pleotint LLC, Eastman Chemical Company, Solamatrix Inc., and Johnson Window Films are the key industry players of solar control window films market.
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