The global window films market is expected to grow at a CAGR of more than 5% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global window films market 2018-2022 under their chemicals and materials library. (Graphic: Business Wire)
Global window films market segmentation by product type and end-user
Technavio’s report on the global window films market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product type, including sun-control, decorative, safety and security, and privacy. As projected in 2017, around 45% of the market share originated from sun-control.
Based on end-user, the global window films market has been segmented into automotive, residential, commercial, and marine. As of 2017, 29% of the market share came from automotive.
“The automotive segment is expected to witness a decline of 1.26% by 2022. However, the residential and commercial segment is expected to register growth during the forecast period,” says a senior analyst at Technavio for specialty chemicals research.
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Window films market: competitive vendor landscape
The global window films market is highly fragmented. 3M, Eastman Chemicals, LINTEC, and Saint-Gobain are the major contributors to the market. These players are focusing on increasing their global footprint and are expanding into developing countries through mergers and acquisitions or partnerships with the regional vendors.
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Other topics covered in the report:
Market drivers:
- Increasing demand for automobiles
- Growing demand for green buildings
Market challenges:
- Limitation on visible light transmission
- Stringent government regulation
Market trends:
- Increasing demand for biodegradable window films
- Demand from laboratories and commercial spaces
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