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Global Window Films Market Analysis Highlights the Impact of COVID-19, 2020-2024 | Increasing Demand for Automobiles to Boost Market Growth | Technavio

The global window films market size is expected to grow by USD 1.15 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Technavio has announced its latest market research report titled Global Window Films Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Window Films Market 2020-2024 (Graphic: Business Wire)

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The use of various kinds of window films in automobiles is likely to fuel the growth of the global window films market. In addition, the global automotive industry is growing significantly with the increasing sales of passenger and commercial vehicles. Increasing disposable income, rising population, and growing urbanization are fueling the growth of the automotive industry. This, along with the environmental concerns regarding the fuel-efficiency and emission of greenhouse gases are encouraging the use of window films. Window films generate a cool environment inside the vehicle, thus, reducing the need for air-conditioning and saving fuel, thereby reducing GHG emissions. Thus, the increasing demand for automobiles will drive the growth of the market during the forecast period.

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As per Technavio, the increasing demand for green buildings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Window Films Market: Increasing Demand for Green Buildings

Increasing number of industries, population growth, and urbanization have impacted the environment. Pollution, deforestation, an increase in vehicle count, changing climatic conditions, and varying temperatures are some of the negative effects upon the environment. To combat these issues, various solutions such as the concept of green buildings are being adopted by the construction industry. Several governments and private entities are investing in the development of green buildings. Sustainable building components such as windows and doors with films offer comfort and privacy to the occupants. They allow a regulated amount of natural light to pass through and enter the building, thus, saving energy. They also reduce the dependency on automated temperature control machinery. Increased energy-efficiency enabled by window films also improves the thermal properties of the building, thereby leading to cost savings. Thus, the increasing demand for green buildings will drive the growth of the window films market during the forecast period.

“Factors such as the growing urbanization in APAC, and the increasing use of bio-based polyester in the manufacture of window films will have a significant impact on the growth of the window films market value during the forecast period,” says a senior analyst at Technavio.

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Window Films Market: Segmentation Analysis

This market research report segments the window films market by end-user (automotive, residential, commercial, marine, and others) and geography (APAC, North America, Europe, South America, and MEA).

The APAC region led the window films market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC region is expected to register the highest incremental growth due to the growing availability of raw materials and inexpensive labor in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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