The global solar control films market is predicted to reach $1,283.8 million by 2030, growing at a CAGR of 6.5% during 2021–2030. Some of the major factors driving the growth of the market are the surging need for the reduction of energy cost and carbon emissions, increasing knowledge of solar control films’ advantages over normal sun-reflective glass, and growing construction industry in developing nations.
Furthermore, these films are easier to install, maintain, and longer-lasting, making them a less-expensive choice than conventional windows and glass. The large-scale construction of malls and high-rise buildings in developing nations essentially contributes to the growth of the market for solar control films. Additionally, the booming adoption of these materials as a result of the rising environmental and health concerns will be a major driver for the market expansion in the coming years.
Solar control films offering multiple solutions are increasingly gaining popularity across the globe. Along with controlling solar radiation, these materials also supplement the safety of the glass, offering privacy in residential as well as commercial spaces. The increasing awareness of privacy, safety, and security has offered solar control films a chance to replace traditional solutions, such as curtains, wooden, and other temporary partitions. Globally, this trend is creating growth opportunities for the global solar control film market in developing economies.
Such sheets also offer protection from broken glass, like an invisible shield. When ordinary glass breaks, it possesses a considerable danger from the sharp shards and minute pieces. Films applied to the glass are engineered with adhesives, so that when the glass breaks, it holds the pieces together, stuck to the film, thus preventing dangerous shards from flying around and making it more difficult for an intruder to gain entry.
Asia-Pacific is expected to be the fastest-growing market in the coming years due to the booming construction and automobile industries. The rising buying power and increasing living standards are further boosting the growth of the solar control films market in the region. Furthermore, the increasing government investment in infrastructure development throughout the region will boost the demand for these materials to reduce heat radiation and carbon footprint.
Moreover, China is dominating the market in Asia-Pacific due to the growing real estate development across the country. The construction market in China is the largest in the region, which is almost two times the size of that of Japan. Additionally, China's residential building sector has witnessed accelerated growth in the past few years, as greater land was made available in an effort to rebalance the supply and demand and quell people’s concerns regarding the lack of housing.
The key players operating in the solar control films market include Eastman Chemical Company, 3M, Compagnie de Saint Gobain, Garware Hi-Tech Films Ltd., Johnson Laminating & Coating Inc., Avery Dennison Corporation, Sican Co. Ltd., LINTEC Corporation, Madico Inc., and The Window Film Company.