Market Overview
- The Global Decorative Window Films Market is expected to grow at a high CAGR of 2.5% during the forecasting period (2020-2027).
- Decorative window film is an architectural window film that comprises the thin sheet of laminate film that can be easily installed to the interior of glass surfaces in residential & commercial buildings, automobiles, boats, and others. It is available in grades, shades, colors, and thicknesses. The selection of film depends on various factors such as the absorptance of the glass and the film, the size of the pane, the thickness of the glass. It is effective for energy savings, increasing building insulation, and providing ultraviolet protection.
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Market Dynamics:
- The market growth is driven by the rising demand for decorative window films in various industries such as construction, automobiles, and others due to its ability to reduce glare and protection against UV rays.
- Increasing awareness regarding the importance of solar control, privacy, and security in offices and industrial units shall fuel the market growth. Market players are focusing on developing renewable energy technology for saving energy. For instance, In May 2015, 3M Company had introduced a high-quality, heat-blocking film that helps save energy and is easy to apply with just water. It applies 3M’s proprietary, non-metalized engineered film technology to help block at least 98 percent of solar UVA and UVB rays and at least 35 percent of the sun’s heat. The result is less work as an air conditioning unit, reduced window glare, and protection for furniture and flooring. In 2016, 3M Company had launched the Light Redirecting Film (LRF) for solar customers across the globe. It helps in improving the efficiency and solar panel power. It would be making solar energy a more affordable source of renewable energy and helps solar module manufacturers to upgrade their products in a cost-efficient way.
- The adoption of digital products along with the decorative window film shall have a positive impact on the market. For instance, Eastman automotive film would be launching the reinvention of film-cutting software i.e. Core which is compatible with Eastman automotive film brands LLumar and SunTek. It will display a mobile weeding table, view tack points, take installation photos, and send order details to the desktop for cutting. Desktop displays will feature Core’s innovative approach to cut boards and saved edits, schedules to improve workflow, and much more. The company is planning to launch Core 1.0 during the spring of 2020, beginning in North America, with intended for expansion to other geographies. It would help the company to increase customer reach.
- However, the regulations on automotive for window films in different countries. For instance, cars should not have window film at their windshield in the United States. On the other hand, there should no window films in the car in India. This hampering the demand for decorative window films.
Market Segment Analysis
- The global decorative window film market is segmented based on type as solar control window film, safety/security window film, general glass film, and spectrally selective window film. Solar Control window film segment accounts for the major market share due to increased usage of these films on the residential’s spaces to limit the entry of heat. It is widely used in the automobiles due to its ability to keep the interiors cool by reducing the heat transfer from the outside environment.
- The safety and security film segment is expected to have positive market growth owing to the use of these films to the glass of doors and windows to hold the glass together if shattered. It is effective in increasing security and provides protection against smash and grab burglaries. It also protects the properties from flying during natural disasters. These films are applied by using the extremely high-pressure sensitive acrylic adhesives. It protects the people and their belongings by inhibiting unwanted individuals from entering home or business.
- Further, the market is also classified based on application into commercial, residential, and others. Commercial segments account for the significant market share owing to the increased demand for decorative window films in office spaces for enhancing the office appearance, upgrade solar control and maintaining privacy, safety, and security. Decorative window film protects both occupants and interior furnishings.
- The residential segment is expected to have positive market growth due to increasing consumers' preferences for decorative window films for residential spaces because of its characteristics such as cost-effectiveness, easy-to-apply, and beneficial. These decorative window films add beautiful character and texture to windows. These films increase the comfort levels of residents by reducing glare and heating, diminishing the fading of fabric & furniture, and maintaining the security of home.
Market Geographical Analysis
- By region, the global decorative window film market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominates the market size due to the increasing usage of solar control decorative window film inside the vehicles for reducing the use of air conditioners. Growing sales of passenger and commercial vehicles shall have a positive impact on the market. There is a high demand for decorative window films from laboratories and commercial spaces. The rising need for a better working environment with noise-control glass windows is stimulating market growth. The increasing number of entertainment centers, shopping complexes, luxury stays, and commercial spaces would help North America to maintain its dominant position over the forecasted period.
- Asia Pacific region accounts for a significant market share due to high growth in the construction industry. There is an increase in the construction of commercial buildings, such as hospitals, schools, colleges, banks, and offices, and residential buildings such as a house, farmhouse, etc in developing countries due to rising urbanization. According to the India Brand Equity Foundation, infrastructure is the key driver of the Indian economy. India ranked 44th out of 167 countries in the World Bank's Logistics Performance Index (LPI) 2018. Foreign Direct Investment (FDI) received in the Construction Development sector was USD 25.12 Billion in 2019 and it is expected to increase over the forecasted period due to different initiatives such as “Housing for All” and “Smart City Mission” adopted by the government. Moreover, the rising disposable income in the developing countries shall fuel the market growth.
- Growth in the tourism industry in the Middle East and Africa is fueling the demand for decorative window films in several hotels and restaurants to accommodate tourists. There is high usage of decorative window films in tourist buses and minivans.
Market Competitive Trends
- The global decorative window film market is witnessing the heightened competition as there are several local and international players with competitive prices and product innovation. 3M Company, Eastman Chemical Company, Madico Inc., Erickson International, and Saint-Gobain are the leading company with a significant market share.
- Product innovation, capacity expansion, product diversification, company expansion, new product launches, competitive prices intensify the market competition. For instance, in January 2020, Eastman Chemical Company had expanded its Dresden, Germany, manufacturing facility to support a new coating and laminating line. It would support the strong growth of Eastman’s high-performance branded paint protection and window film products. The expansion would expand Eastman’s assets in Martinsville, Virginia.
- The companies are entering into the collaborations, mergers, strategic partnerships, and acquisitions to increase the demand and reach for decorative window films across the globe. For instance, in August 2016, ClearPlex had merged with Madico Inc. for providing the best products and services to the windshield protection and surface protection markets worldwide. It involves the combination of ClearPlex's unique products and application expertise with Madico's global distribution network and manufacturing resources. Madico would provide a strong platform for ClearPlex to develop innovative products and solutions for its markets worldwide.
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