The global solar control films market was valued at $645.1 million in 2015, and it is expected to grow at a CAGR of 9.4% during 2016 – 2022. The factors driving the growth of the global market include reduction of energy cost & carbon footprint, reduction of ultra-violet (UV) & infrared (IR) emissivity, and increasing awareness about advantages of solar control films over normal sun reflective glass. Additionally, the surge in the real estate development is further boosting the opportunities for increasing demand for solar control films.
The sunlight streaming through window comprises heat, UV rays, infra-red radiation, and visible light. UV rays possess health risk, since excessive exposure may cause skin cancer, premature aging of skin, cataracts and other eye problems. UV rays are the major reason for fading, and it can cause damage to furniture, hard floor, equipment and other materials. Wherever there are windows, be it houses or offices, this issue will surface there. Solar control films block (absorbs) 98% of the UV rays to reduce the exposure, hence reducing the health hazard associated with UV rays and also preventing fading effects on furniture, interior and other appliances. Solar control films has the ability to block the certain wavelength of infrared radiations and reject heat without affecting the natural light and maintaining the inside temperature.
In 2015, Asia-Pacific held the largest share (39.5%) in the global solar control films market with a market size of $254.7 million. The solar control films market in the region is anticipated to witness the highest growth at a CAGR of 10.6% during the forecast period. The major reasons behind the growth of the solar control films market in the region include large base of automobile industries and rapid development in building construction sector.
The information and data in the publication “Global Solar Control Films Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Among the various applications, the automotive segment held the largest share in the global market in 2015. However, the commercial building segment is anticipated to witness the highest growth during 2016 – 2022.
News Courtesy: P&S Market Research