New York, USA, Feb. 01, 2023 (GLOBE NEWSWIRE) -- A new report on the global window coatings market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $15,719.9 million by 2028, rising at a striking CAGR of 5.5% from 2021 to 2028. This report is an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Window Coatings Market Growth
The key factor boosting the growth of the global window coatings market is the rising adoption of window coatings owing to their various benefits such as prevention of scratches and breakage, reduced fading, and glare protection. Moreover, the growing availability of different types of window coatings, such as reflective film, neutral film, reflective film, dual insulating film, spectrally decorative film, selective film, anti-graffiti film, and others, in the market is anticipated to open doors to beneficial opportunities for the growth of the market in the forecast period. However, the implementation of strict rules regarding the use of tinted coatings mainly in automobiles is expected to obstruct the market growth.
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The report segments the global window coatings market into product use, end-use industry, and region.
Sun Control Window Coatings Sub-Segment to Experience Leading Growth
Among the product use segment, the sun control window coatings sub-segment is expected to observe significant growth by surpassing $8,815.1 million during the estimated timeframe. This is mostly because of the rising adoption of sun control window coatings in residential as well as commercial spaces as they reduce glare, heat, or fading.
Homes & Buildings Window Coatings Sub-Segment to Witness Highest Growth
Among the end use industry segment, the homes & buildings window coatings sub-segment is expected to witness leading growth and garner $8,251.7 million during the estimated timeframe. This is mostly because of the growing applications of window coatings in homes and buildings as they offer great privacy and safety.
Asia-Pacific Region to Observe Marvelous Growth
The report analyzes the global window coatings market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific market is estimated to observe remarkable growth with a CAGR of 6.2% in the estimated period. The growth of the regional market is mainly because of the growing construction activities in nations such as China, Australia, India, Japan, and others due to the speedy development of smart cities and urbanization in this region.
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Impact of the COVID-19 Pandemic on the Window Coatings Market:
The abrupt rise of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global window coatings market. The spread of the virus has created massive havoc in various industries across the globe. This resulted in a sudden slowdown in the construction activities of residential and commercial projects, which hindered the demand for window coatings during the pandemic. Also, disruptions in manufacturing processes and supply chains during the lockdown period greatly impacted the availability of window coatings and other construction materials. All these factors significantly hampered the market growth amidst the pandemic crisis.
Leading Players of the Market
The report lists some of the foremost players operating in the global window coatings market
- LINTEC Corporation
- 3M
- Armolan
- Purlfrost Ltd
- Eastman Chemical Company
- Avery Dennison Corporation
- Garware Suncontrol Film
- Saint-Gobain
- Polytronix Inc.
- Solar Control Films Inc.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry.
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For instance, in December 2020, STEK Automotive, a developer of film technology, launched a high-quality nano-ceramic window film, NEX, that comprises grapheme, tungsten, and antimony tin oxide.
More about Window Coatings Market:
- Here’s Why You Should Consider Installing Window Coatings
- Acquisitions Like That of A1 Glass Coating by C-Bond Systems to Propel the Growth of Window Coatings Market
