Architectural Window Films Market Size, Share & COVID-19 Impact Analysis, By Product Type (Sun Control Film, Decorative Film, Safety & Security Film, Privacy Film, and Others), By Application (Residential and Commercial), and Regional Forecast, 2022-2029

The global architectural window films market size was valued at USD 3.22 billion in 2021. The market is projected to grow from USD 3.34 billion in 2022 to USD 4.59 billion in 2029, exhibiting a CAGR of 4.6% during the forecast period. Asia Pacific dominated the architectural window films market with a market share of 45.65% in 2021. Moreover, the architectural window films market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.60 billion by 2032, driven by rapid expansion of residential sector.

The global COVID-19 pandemic has been unprecedented and staggering, with these films experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on in depth analysis, the global architectural window films market exhibited a decline of -12.0% in 2020 as compared to 2019.

Architectural window films are a thin laminate film mounted outside or inside the window. These thin films are made of polyester, vinyl, ceramics, plastic, and other materials that enable sufficient light to enter and restrict harmful UV rays. These are placed on the windows of residences, boats, offices, automobiles, hospitals, and aircraft. The market is expected to be driven by growing demand for energy-efficient housing systems. Architectural window films help minimize energy consumption, lower the building maintenance cost, and allow efficient cooling. Moreover, these films fulfill the threshold of energy efficiency standards, which meets the green building objective. Hence, this is further increasing their consumption and propelling the growth in commercial and residential buildings.

COVID-19 IMPACT

Disturbance in Transportation of Materials due to Pandemic Reduced Production and Usage of Films

Since the spread of the coronavirus in late 2019, many countries have announced a restriction on the distribution and transportation of materials, affecting the value chain of manufacturers. Owing to these restrictions, prices of raw materials required for the films manufacturing have gone up, which further impacted production. Moreover, the construction industry was also affected by restrictions announced due to COVID-19. The investments made by enterprises in building and renovating office spaces were delayed as the value chain was affected, leading to slowing down of uptake of films. In addition, construction projects also got postponed and stopped owing to stringent lockdown restrictions imposed by governments to combat the virus's impacts and the lack of availability of laborers and raw materials. However, with the depressing COVID-19 cases, governments are strategizing to get their economics back on track. As a result, the market is estimated to stabilize in the coming years.

LATEST TRENDS

Increasing Adoption of Switchable Smart Films to Create Growth Opportunities

The rising adoption of switchable smart films will augment the architectural window films market growth. Architecturally advanced construction has been incorporating large windows to reduce the load on the foundation of the building. But, these skyscrapers and towers are exposed to a higher amount of sunlight, UV rays, and other types of radiation. Switchable smart films are gaining importance in the construction industry due to their capabilities, including energy conservation, thermal insulation, reducing glare, and aesthetic appeal. Furthermore, switchable smart films provide the consumers with an option to convert conventional glass into smart glass by installing the films on it. The films also help transform existing glass windows, acrylic screens, partitions, plexiglass, or other transparent surfaces into instant switchable privacy. Hence, increasing demand for switchable smart films will offer lucrative growth opportunities.

DRIVING FACTORS

Increased Demand for Energy Efficient Housing Systems is Expected to Drive the Market Growth

The rising demand for energy-efficient housing systems is expected to drive the market growth. Architectural window films help minimize energy consumption and fulfill the threshold of energy efficiency standards, which provide efficient cooling and lower the maintenance cost of buildings. They are also easy to install and enable cooler interiors without air conditioning. The increasing adoption of energy-efficient housing systems to support the green building concept and the government's rising initiative for the construction of green buildings will promote market growth. According to the World Green Building Council, green buildings contribute to decreasing negative environmental impacts by conserving water, energy, and natural resources and generating their energy and boosting biodiversity. Hence, the growing industrialization & urbanization in developing countries, such as China and India, increasing innovation in green buildings, and rapid expansion of the construction industry will lead to the demand for the product.

RESTRAINING FACTORS

High Prices of Architectural Window Films to Hinder the Market Growth

The high price of architectural window films is expected to restrain the market growth during the forecast timeframe. Although these films are cheaper than smart glass, the factors such as the film's material, cost of technology & electricity, flexibility, resistance to external elements, and installation cost have a significant influence on the price of window films. Additionally, lack of awareness of long-term benefits, such as energy conservation and the ability to provide favorable environments, also inhibits the large-scale adoption of these films. Therefore, such factors are considered to hinder the market growth during the forecast period.

SEGMENTATION

By Product Type Analysis

Sun Control Film to Remain Leading Product Type Due to its Preference in Residential Buildings

On the basis of product type, the global market is segmented into sun control film, decorative film, safety & security film, privacy film, and others. The sun control film segment accounted for a leading architectural window films market share in 2021, growing at the highest CAGR due to increasing demand for sun control films from residential buildings. The abilities of the product, such as increasing energy savings, decreasing fading of home furnishing, reducing glare, heat rejection, and decreasing hotspots, make it a preferred choice in residential areas. Moreover, the rising population growth worldwide, expansion of the residential sector, and increasing innovation in films will flourish the sun control film segment growth during the forecast timeframe.

The rising demand for interior design coupled with the increasing decoration of houses and buildings to make them more attractive is fueling the consumption of decorative films. Safety and security window film is designed to hold glass fragments together after the glass is broken. In addition, they are also capable of protecting the living space or buildings from the worst weather, crime, and injuries. The rising need for safety and security worldwide, coupled with the increasing fluctuation of weather conditions, promotes the adoption of safety and security window film.

The increasing innovation in smart glass and the rising expansion of smart buildings are fueling the adoption of privacy films. Additionally, the growing adoption of privacy films in small offices to maintain privacy will propel the segment growth during the review period. The others segment includes anti-glare films and tinted films. Anti-glare films reduce glare and harmful UV rays and allow sufficient light to enter living rooms without damaging furniture and carpets

By Application Analysis

Residential Segment to Generate Highest Revenue Owing to Rising Population Growth and Rapid Urbanization

On the basis of application, the market is categorized into residential and commercial. The residential segment is anticipated to continue its dominance and grow at the highest growth rate. The major reasons for this segment growth are factors such as the rising expansion of the residential sector globally, increasing population growth, and rapid urbanization in developing and developed nations. This, in turn, increases the consumption of architectural window films in residential buildings.

The commercial segment is expected to have significant growth during the forecast period. The rising expansion of large-scale business, increasing start-up firms by new entrepreneurs, and rising infrastructure development of government and private offices are driving the innovation in the commercial segment. Additionally, the rapid development of airport infrastructure to make them more attractive will further propel the product adoption in the commercial segment.

REGIONAL INSIGHTS

The market in Asia Pacific stood at USD 1.47 billion in 2021. The rapidly growing construction industry in China, Japan, and India is boosting the growth of this region. This, in turn, is increasing the architectural window films consumption. Window films offer a variety of purposes such as protection against damaging ultraviolet radiation, decreasing the fading of furnishings, and reducing heat within a building. Such factors aid in increasing their demand for various infrastructure projects. Hence, this would help fuel the Asia Pacific market growth during the forecast timeframe.

In Europe, the commercial sector is growing rapidly due to the increasing expansion of small-scale businesses, rising infrastructure development, and renovation of government offices. Hence, such factors will increase the product adoption in this region. The rapid expansion of the residential sector in North America will create lucrative opportunities. The growth is associated with the rising population growth, rapid urbanization, and increasing demand for green and smart buildings.

Rising industrialization in Latin America and the Middle East & Africa will promote the adoption of architectural window films in construction projects. The demand for safety & security window films has increased in these regions due to their protection against exposure to chemicals and from worst weather conditions.

KEY INDUSTRY PLAYERS

Key Market Players to Use Product Innovation to Enhance the Performance of their Offerings

The key producers operating in the market are 3M Company, Eastman Chemical Company, SAINT-GOBAIN, and Madico, Inc. These companies are involved in capacity improvement, product innovation, acquisition, collaborations, and expanding presence in the market. For instance, 3M is the leading manufacturer of window films and has a wide presence in North America, Europe, the Middle East, Africa, Latin America, and Asia Pacific. Additionally, the company operates 61 manufacturing facilities in 29 states of the U.S. and 89 manufacturing facilities across 30 countries other than the U.S.

LIST OF KEY COMPANIES PROFILED:

• 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.)

KEY INDUSTRY DEVELOPMENTS:

• February 2022 –XPEL, Inc. expanded VISIONTM architectural window film product portfolio and commercial support services. The new films and services, such as energy modeling simulations, are intended to help commercial buildings decrease overall carbon footprint by lowering peak energy consumption and increasing HVAC efficiency. XPEL is focusing on delivering maximum advantages and outcomes to its main customer groups by introducing these new products and services.


• January 2020 –Eastman Chemical Company expanded its new coating and laminating line in Dresden, Germany. This investment will support the strong growth of Eastman’s high-performance branded window film and paint protection products. The additional capacity will allow the company to meet the continued strong growth in Europe and globally for its paint protection films as well as provide versatility to meet growing customer needs in high-value architectural and automotive window films.

REPORT COVERAGE

The research report provides qualitative and quantitative insights and a detailed analysis of the market size & growth rate for all possible segments in the market. The report provides an elaborative analysis of the market dynamics, trends, and competitive landscape. Various key insights covered in the report are recent industry developments, a regulatory scenario in crucial countries, macro & microeconomic factors, SWOT analysis, and key industry trends.

Report Scope & Segmentation