Key Market Insights

"Increase the use of sun control films in automotive will spur the market revenue growth"

The global sun control films market accounted for US$ 997.8 Mn in 2021 and is anticipated to grow to US$ 2,218.04 Mn growing at a CAGR of 6.0% throughout the forecast period from 2023 to 2030.

Increasing environmental concerns to reduce carbon footprint coupled with the booming construction sector especially in the Asia Pacific region are some of the factors propelling the growth of the sun control films market globally. A combination of benefits offered by sun control films including blocking more than 95% of ultraviolet rays, save energy, less heat & more light, and aesthetic appeal among others are proliferating the demand of sun control films market. Increasing adoption of sun control films due to the booming real estate sector in countries such as China, India, Indonesia, and Singapore among others. In 2018, total construction spending in China amounted to US$ 1.78 trillion. Moreover, the rising automotive sector and increasing usage of sun control films in windows of automotive are further enhancing the sun control films market growth.

Additionally, the application of sun control films in residential spaces and automotive to reduce heat transfer from outside and keep the interior cool helps in increasing the fuel efficiency and energy savings from air conditioners and refrigerators. Stringent regulatory norms and initiatives taken by various governments to reduce energy consumption are factors further fueling the market demand. In addition, the properties of the sun control films such as privacy, scratch-resistant, safety, and cost-effectiveness further propel market growth. However, the rising threat of substitutes such as smart glass and issues related to warranty and installation of the films are expected to hamper the market growth. 

Type Analysis

"Clear (Non-reflective) segment to dominate the market during the forecast period"

Based on type, the sun control films market is classified into clear, dyed, and vacuum coated. The clear (non-reflective) segment holds the largest market share in the global sun control films market and accounted for a revenue share of approximately 40% of the global market. This can be associated with its ability to reduce the passage of ambient light when coated on both sides. These films find applications in automotive windows, residential windows, and doors among others.

In contrast, vacuum coated sun control films segment expected to grow significantly during the forecast period. These films use techniques such as vapor deposition, e-beam, and sputtering. The benefits offered by vacuum coating includes higher solar heat control, quick curing process, quicker dry-out times, and reduced period of film haziness. 

Application Analysis

"Construction segment expected to dominate the market during the forecast period"

On the basis of application, the global sun control films market is further classified into construction, automotive, decorative, others (marine, graphic, etc.). The construction segment holds the largest market share and accounted for a revenue share of approximately 40% globally. This can be associated with the benefits offered by sun control films such as enhances the aesthetic appeal, increases indoor lighting, and reduces heat inside among others which in turn are having a positive influence on the market demand of the sun control films market.

In contrast, the automotive segment is anticipated to expand with the highest CAGR during the forecast period. This can be associated with increasing the application of sun control films in vehicles as it reduces the load of the vehicle's air conditioner, maintains the temperature inside, and reduces UV rays exposure. 

Regional Analysis

"Rising infrastructural development to bolster the growth in the Asia Pacific region"

In 2021, North America dominated the global sun control films market with a revenue share of approximately 35%. The US alone accounted for the major share of revenue contributing nearly 80% of the revenue in the North America region. This can be associated with increasing concerns to save energy and increasing health awareness for protection against UV rays. Thus proliferating the sun control films market demand in the region.

In contrast, the Asia Pacific region continues to expand at a rapid pace in the global sun control films market. This can be associated with, rapidly increasing infrastructural development in the region, a growing emphasis on reducing carbon footprint and rising concerns regarding UV protection are factors propelling the sun control films market growth in the region.

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
• Dexerials Corporation

Key Industry Development:

• In March 2019, Solar Control Films, Inc. announced the launch of its new product series of very light window films that are transparent and stops radiation of UV rays by 99%.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Sun Control Films market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Sun Control Films market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Sun Control Films market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Sun Control Films market?
• Which is the largest regional market for Sun Control Films market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Sun Control Films market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Sun Control Films market worldwide?