Architectural window films Market Trends, Segments, Application, Growth And Global Forecast by 2029 |
The global architectural window films market size was USD 3.22 billion in 2021. The market size is expected to rise from USD 3.34 billion in 2022 to USD 4.59 billion by 2029 at a CAGR of 4.6% during the forecast period. The market is projected to grow during the forecast period due to the rising adoption of switchable smart films. Fortune Business Insights™ publishes this information in a report titled, “Architectural Window Films Market, 2022-2029″.
Lack of Production Amid Pandemic Hampered the Market Growth
The outbreak of the COVID-19 pandemic created a huge impact on the architectural window films market growth due to stringent restrictions on transportation and distribution of materials. Raw material costs were increased initially due to lack of supplies and availability of raw materials. Economic disruptions amid the pandemic and the closure of the global borders have affected the import/export activities. This caused a negative impact on the market growth during the pandemic.
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Sun Control Film Segment Leads the Market Due to Increased Preference from Residential Buildings
By product type, the market is categorized into sun control film, decorative film, safety & security film, privacy film, and others. The sun control film segment is expected to lead the market during the forecast period due to these films’ various properties and abilities.
Residential Segment to Lead Global Market Due to Rapid Urbanization
Based on application, the market is bifurcated into residential and commercial. The residential segment is expected to dominate the global market due to the increasing demand for sun control and decorative films.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report highlights current market trends and recent developments introduced by the key market players. The impact COVID-19 pandemic on market development and growth opportunities are mentioned further in this report. Also, the drivers and restraints affecting current market conditions during the forecast period are given further along with the business growth strategies adopted by the leading market players. Regional insights regarding segmented market areas are discussed further in this report.
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Drivers & Restraints:
High Demand for Energy Efficient Housing Systems to Propel Growth
The demand for architectural window films is expected to surge during the projected period due to the increasing need for these films from the residential sector. Also, the rising adoption of switchable smart films is anticipated to drive the market in the coming years. Furthermore, the rising adoption of energy-efficient housing systems is anticipated to fuel the market growth by supporting the green building initiative introduced by governments.
However, high prices of raw materials may hamper the market growth.
Asia Pacific Dominates Global Market Due to Rapidly Developing Construction Sector
Asia Pacific holds the dominant global architectural window films market share due to the rapidly growing construction industry. The regional market share was valued at USD 1.47 billion in 2021. Increasing population and rapid urbanization in developing countries are expected to bolster the regional market growth.
Europe stands at the second-highest global market position due to the rising expansion of small-scale businesses. Also, rising infrastructure development and renovation of government offices are anticipated to drive the market.
New Product Launch Allow Companies to Improve their Business Performance
The leading market players focus on forming strategic alliances to introduce new products and expand their production lines globally. The key players adopt latest technologies to launch new products according to consumer demands and requirements from end-use industries.
Key Industry Development:
- April 2022: Avery Dennison launched all-new Dusted Crystal decorative architectural window films. The film has a unique, first-to-market wet-apply quick-release adhesive that allows it to be adjusted during installation and readily removed after drying, leaving almost little trace on the glass. This launch will help the company serve its products in schools, corporate meeting spaces, hospitality reception areas, medical offices, and glass partition applications.
List of Key Players Profiled in the Report:
- SAINT-GOBAIN (France)
- 3M Company (U.S.)
- Eastman Chemical Company (U.S.)
- Avery Dennison Corporation (U.S.)
- LINTEC Corporation (Japan)
- Toray Plastics (America) Inc. (U.S.)
- Madico Inc. (U.S.)
- Reflectiv (France)
- Garware Suncontrol (India)
- Dexerials Corporation (Japan)
- Armolan Window Films USA (U.S.)
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