Window Film Market Size, Share & Trends Analysis Report By Product (Sun Control, Decorative, Security & Safety), By Application (Automotive, Residential, Commercial), By Region, And Segment Forecasts, 2020 - 2027
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Window Film Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05763778/?utm_source=GNW
The global window film market size is anticipated to reach USD 15.7 billion by 2027., growing at a revenue-based CAGR of 6.0% over the forecast period. Increasing demand for product across multiple end-use industries such as residential, commercial, automotive, and marine is anticipated to drive the industry.
Due to increasing awareness regarding energy-efficient vehicles, automotive manufacturers across the globe are improvising their technologies and finding sustainable alternatives to reduce fuel consumption in vehicles, thereby reducing emissions. This, in turn, is estimated to increase demand for the product in the automotive industry.
Increasing investments to develop affordable housing schemes in emerging economies of Latin America and Asia Pacific is expected to drive demand for window film in residential applications. Moreover, growing need for energy efficient buildings is expected to propel demand for sun control films over the forecast period on account of their ability to reduce excess sunlight penetration inside the room.
Aerospace industry utilizes the product to enhance the strength and rigidity of windows and protect interior components and furniture from outside sunlight and radiation.Moreover, these films make it easier to clean and maintain windows.
These are attractive, cheaper than decorative glasses, and lightweight, which is projected to increase their consumption in industry over forecast period.
In August 2019, Madico, Inc. had announced a new distribution company named Madico Canada for the distribution of window films in Canada. The new entity was formed by the acquisition of Courage Distributing, Inc. and Window Film systems, which were the distributors of window films and have distribution centers in British Columbia, Oakville, Richmond, and Ontario.
Further key findings from the repot suggest:
• The global window film market was valued at USD 9.8 billion in 2019 and is expected to witness a revenue-based CAGR of 6.0% from 2020 to 2027 owing to its ability to keep the car interiors and buildings cool by absorbing or reflecting away the solar heat
• Decorative window films are anticipated to witness fastest growth over the forecast period owing to increasing focus on aesthetic appeal for buildings
• The marine application segment accounted for 4.1% share of the overall revenue in 2019 and is further expected to witness prominent growth over the forecast period. Innovation and new product developments in the field is expected to benefit the expansion
• Central and South America is expected to register above average growth rate on account of increasing population and surging consumer disposable income
• Key players involved in the marketplace include 3M; Eastman Chemical Company; Saint-Gobain Performance Plastics Corporation (Solar Gard); and Madico, Inc.
• The most dominant player and innovator, 3M primarily focuses on innovation covering process technology, new product development, raw material analysis, and application innovation.
Read the full report: https://www.reportlinker.com/p05763778/?utm_source=GNW
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