Window Coatings Market Projected to Register a Revenue of $15,719.9 Million and Grow at 5.5% CAGR in the 2021-2028 Timeframe [170-Pages] | Research Dive
Window coatings market expected to flourish by 2028 due to rising demand for window coatings in commercial & residential buildings. Sun control sub-segment to be highly dominant. Market in Asia-Pacific region to witness better growth opportunities.
NEW YORK, July 5, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, 'Window Coatings Market by Product Use (Sun Control, Decorative, Security & Safety, and Privacy), End-use Industry (Homes & Buildings, Automotive, Aerospace & Aviation, and Marine), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028'.
According to the report, the global window coatings market is expected to register a revenue of $15,719.9 million by 2028 and grow at a stable CAGR of 5.5% during the 2021-2028 timeframe.
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Dynamics of the Window Coatings Market
Drivers: Several benefits like insulation, glare reduction, energy saving, etc. offered by window coatings are accelerating their demand and driving the growth of the global window coatings market. Additionally, its prevalent utilization in commercial and residential buildings for sun control and blocking harmful UV rays is expected to further boost the market growth during the analysis period.
Opportunities: Scratch and breakage prevention offered by window coatings is one of the many factors expected to provide abundant growth opportunities for the global window coatings market by 2028. In addition, increasing construction activities in the Asia-Pacific region is predicted to further amplify the market growth during the analysis timeframe.
Restraints: Stringent regulations regarding tinted window filming for automotive is the major factor predicted to impede the market growth.
Covid-19 Impact on the Window Coatings Market
The onset of the corona virus pandemic has negatively impacted most businesses and industries, including the global window coatings market. Decline in construction activities including commercial and residential buildings due to strict lockdowns imposed by governments reduced the demand for window coatings. Additionally, the shutdown of international borders halted the shipments from overseas, thus leading to shortage of stock and delays in the availability of raw materials. However, market analysts predict that the window coatings market might revive its growth rate post the pandemic chaos due to noteworthy initiatives implemented by window coatings manufacturers.
Segments of the Window Coatings Market
The report has divided the window coatings market into a few segments based on product use, end-use industry, and region.
- By product use, the sun control sub-segment of the global window coatings market is estimated to have the fastest growth rate and generate a revenue of $8,815.1 million in the 2021-2028 forecast timeframe. The popularity of sun control window coatings across the commercial and residential buildings and the various benefits it offers like glare, heat, and furniture fading reduction are the main factors to propel the sub-segment's growth. Moreover, the heat rejection property of such coatings effectively lowers your home's temperature and lowers your energy bills, thus further augmenting the market growth by 2028.
- By end-use industry, the homes and buildings sub-segment of the global window coatings market is expected to hold a dominant market share and surpass $8,251.7 million by 2028 due to huge demand for window coatings in the homes and buildings sector to ensure privacy. Window coatings effectively prevent intruders from entering your home and reduces the cooling and heating requirements of the building via glazing process. These coatings also prevent the penetration of harmful UV rays inside homes and buildings, thus propelling the market growth during the forecast timeframe.
- By regional analysis, the window coatings market in the Asia-Pacific region is predicted to have ample growth opportunities and grow at a healthy CAGR of 6.2%. Rapid growth in the construction activities in countries like Australia, Japan, China, and India is the prime factor to uplift the market growth rate by 2028. Furthermore, increasing initiatives by the Chinese government to develop efficient and greener cities is anticipated to further bolster the market development by 2028.
Key Window Coatings Market Players:
Some of the key market players are
- Polytronix, Inc.
- LINTEC Corporation
- Garware Suncontrol Film
- Saint-Gobain
- Purlfrost Ltd
- 3M
- Avery Dennison Corporation
- Solar Control Films Inc.
- Eastman Chemical Company
- Armolan
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in October 2021, XPEL Inc., a renowned provider of protective films and coatings, announced its acquisition of North 1 Technologies, a software organization that provides cutting paint protection film, to develop and expand its core strategies and bring more consistency in its team.
Finally, the report also summarizes many crucial aspects of the market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio. Inquire Here before buying Full Report
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