The latest market report published by Credence Research, Inc. “Sun Control Films Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the Sun Control Films market was valued at US$ 845.65 Mn in 2018 and expected to reach US$ 1,879.71 Mn by 2027 at a CAGR of 10.5% throughout the forecast period from 2019 to 2027.
"Increasing usage of sun control films in construction industry will spur revenue growth during the forecast period"
Solar control films offers all-out heat rejection for internally applied films and is particularly used in combating severe glare problems and solar heat gains. The significant economic growth leading to rising constructional activities which in turn has resulted in extensive installation of sun control films to save energy and protect from UV rays. The films offers a combination of benefits including, reduced cooling costs thereby lightening the load on air conditioning equipment, low carbon footprint, quick retro-fit installation, and reflective daytime appearance among others are proliferating the demand of sun control films. For instance, in March 2016, 3M announced launch of new product 3M thinsulate climate control window films series.
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Additionally, properties of sun control films including scratch resistant, privacy, and transmission of heat energy by absorbing or reflecting among others are anticipated to further bolster the sun control films market growth. Construction industry which includes residential and commercial buildings accounts for the major share due to increasing application of sun control films as a protective shield. Aforementioned factors coupled with enhanced aesthetic appeal of home and exterior are driving the growth of the market. Furthermore, increasing spending on infrastructural development in Asian countries is significantly driving the market. For instance, in 2018-19, Indian government increased its expenditure towards infrastructure development from US$ 75.9 Mn to US$ 89.2 bn.
• In August 2017, Dexerials Corporation announced the launch of its new product named IRAVK700. The product provides improved transparent heat shielding coupled with better retro-reflectivity.
Key Market Movements
• In 2018, the global sun control films market was valued US$ 845.65 Mn and is expanding at a CAGR of 10.5% • Based on absorber type, the market is classified into organic, inorganic, and metallic. Organic segment holds the largest market share of the market and accounted for approximately 40% of total market revenue globally owing to increasing application in safety films by using adhesives, are thicker and provides protection against glass shard. • Metallic absorber segment is anticipated to register highest growth during the forecast period due to adoption of these films for decorative and aesthetic appealing properties. It significantly reflects sun rays which in turn helps in energy savings. • Asia Pacific region expected grow significantly during the forecast period. This can be associated with rapidly increasing infrastructural development and government spending to build smart cities, smart homes, and commercial spaces among others. This growth especially comes from emerging economies of India, China, Japan, and South Korea among others.
List of Companies Covered:
• Garware Suncontrol • 3M Company • Jupiter International • Thermolite • Solar Control Films Inc. • CPF Films • Recon Blinds • Guangdong New Vision Film Technology Co., Ltd • Saint-Gobain SA • Madico Inc. • Llumar Window Films
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