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

Global Window Coatings Market Analysis

The global window coatings market size was $10,300.0 million in 2020 and is predicted to grow with a CAGR of 5.5%, by generating a revenue of $15,719.9 million by 2028.

Market Synopsis

Window coatings or window film is a thin laminate film mostly made up of polyester and applied to glass. It is widely used for sun control that provides insulation, glare reduction, and blocks the harmful UV rays. For instance, the ultraviolet (UV) blocking films prevent 80% of solar heat entering your home and block up to 99.9% of harmful UV rays. Hence, window films reduce your energy costs and prevent fading of furniture when they are used for architectural purposes such as in residential and commercial buildings.

However, window coatings do not stop the window from breaking. For instance, there is a common misconception among people that window coatings will prevent intruder from entering your house through window. Instead, these coatings hold the glass together and prevent it from shattering it into fragments. This may potentially delay the intruder from entering your home.

Various advantages offered by window coatings such as energy savings, fading & glare protection, temperature imbalances, and others offer excellent growth opportunities. For instance, in terms of energy savings, window films help in reducing energy bills during summer and winter by controlling the amount of sunlight entering into the building. The right window coating reduces temperature fluctuations and offers up to 82% of solar energy reduction by maintaining the temperature inside the room.

According to regional analysis, the Asia-Pacific window coatings market accounted for $4,202.4 million in 2020 and is predicted to grow with a CAGR of 6.2% in the projected timeframe.

Window Coatings Overview

Window coatings are spectrally selective that are usually designed for hot climates with large amounts of solar radiation. These films selectively filter out light frequencies that generate heat and minimize the loss of visible light transmission. These films have wide range of applications across residential & commercial building construction, automotive, and shipbuilding industry. Also, window coatings offer enhanced décor and privacy as they can be customized to suit your elegant interiors without compromising on natural light.

COVID-19 Impact on Window Coatings Market

The COVID-19 pandemic has greatly impacted the window coatings industry that has wide range of application across homes & buildings sector. For instance, slowdown of construction activities including residential and commercial construction during pandemic has affected the window coatings market demand. This is majorly owing to complete shutdown of non-essential activities to contain the spread of COVID-19 virus and supply-chain challenges. Due to closed borders, the shipments from overseas were completed halted which led to shortage of stock and delay in the availability of raw materials. For instance, premium window coatings made of polyester have faced severe shortage owing to reduced production capacity of chemical plants. The social distancing norms at workplace and capacity reduction led to exceeded demand as bulk orders were placed by the customers to prevent shipping delays. Also, in terms of logistics, the priority of overnight delivery of window coatings was no longer guaranteed as well as the surcharges increased rapidly. These factors greatly affected the window coatings market size during the pandemic times.

During the global crisis, the initiatives implemented by window coatings manufacturers to ensure safety of public, healthcare workers, first-responders, and employees are helping people to some extent. For instance, 3M, leading window coatings manufacturer, has doubled the production of N95 respirators to 1.1 billion per year across all of its manufacturing & production units located in the U.S., Europe, and Asia. Also, the company is actively working for combatting price-gouging, counterfeiting, and fraud. In addition, Avery Dennison, popular window coatings manufacturer, is maintaining the supply chain to maintain the flow of products and goods. Also, the company is ensuring the supply of essential food, health & hygiene products, and medical facilities for communities across the globe during the crisis.

Scratch & Breakage Prevention and Fading & Glare Protection Properties of Window Coatings to Drive the Market Growth

Window coatings offer scratch & breakage prevention and enhance the appearance of your windows. For instance, graffiti window film prevents the damage caused to the windows, reduces the cost, and helps in maintaining the proper window appearance. Also, coated windows help in reducing the damage caused to furniture such as fading as window coatings block the UV rays. These coatings find application in automotive sector where they are used to reduce glare while driving and protect the vehicle’s interior from fading. One of the key advantages of window films is the privacy and protection that it offers. For instance, the window coatings or window films make it harder for an outsider to see into a building that increases the privacy of building. Frosted windows are one of the best examples of window coatings that are specifically designed by keeping privacy protection in mind. These factors are anticipated to drive the window coatings market share in the coming years.

To know more about global window coatings market drivers, get in touch with our analysts here.

Growing Regulations Regarding Tinted Coatings to Restrain the Market Growth

Growing regulations regarding window coatings also known as window filming especially for automotive vehicles are anticipated to retrain the market growth. For instance, In India, the Motor Vehicles Act 1988, states that the front and rear windshield of automotive vehicle should not be more than 70% tinted. Also, there are many other regulations for window coatings for public buildings such as schools & hospitals. Some of these regulations state that the glazing should meet safety regulations, glass up to certain height should be clearly visible, and others.    

Availability of Different Types of Window Coatings to Generate Excellent Growth Opportunities

Variety of window coatings or window films is available in the market. For instance, reflective film, neutral film, dual reflective film, insulating film, spectrally selective film, decorative film, anti-graffiti film, and others are popular ones. Among these, reflective film is most common type of window film which is used in residential and commercial buildings. This film absorbs and reflects energy from sun & other light sources. Neutral film is used to reduce the amount of heat that enters the house, and this film does not affect the look of windows. Anti-graffiti film is largely used in industrial, commercial, and government facilities as it reduces the resources and time required to remove graffiti manually. Decorative film is used to add different patterns or design to a building and increases privacy of building. Colored or frosted window coatings are some of the examples of decorative film that have an appealing look. Safety & security film prevents glass from breaking caused by impact of foreign object and prevents shattering of glass. These factors are anticipated to drive the window coatings market demand during the forecast period.  

To know more about global window coatings market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The sun control window coatings sub-type is anticipated to have the dominant market share and generate a revenue of $8,815.1 million by 2028, growing from $5,493.2 million in 2020. Sun control window coatings are popular across residential and commercial as they reduce heat, glare, or fading. This is because solar control coatings block up to 80% of incoming sun’s heat and 99.9% of UV rays. The heat rejection property of sun control window coatings reduces the temperature of your house and lowers your energy bills. Also, these coatings reduce any annoying glare that can cause eye strain. For instance, the solar control window coating by 3M, the leading company in fields of leading window coatings manufacturer, effectively blocks 60% of solar heat and 97% of infrared light that passes through your windows. This ultimately reduces your AC usage and energy consumption.

Source: Research Dive Analysis

The homes & buildings window coatings sub-segment is anticipated to have the dominant market share and generate a revenue of $8,251.7 million by 2028, growing from $5,222.3 million in 2020. Window coatings are widely used in homes & buildings sector as they offer safety and privacy. For instance, coating of glass windows prevents intruders from entering your house once it is impacted, as coatings hold the glass in place. It reduces the heating and cooling requirements of buildings by reducing the transfer of heat through glazing. Window coatings can be used for new construction, renovation, or a retrofit project. These coatings mitigate the harmful UV rays while still allowing the penetration of natural light. These coatings offer uniform look and aesthetic appeal to your homes. 

Source: Research Dive Analysis

The Market for Window Coatings in Asia-Pacific to be the Most Dominant and Fastest Growing

The Asia-Pacific window coatings market accounted $4,202.4 million in 2020 and is projected to grow with a CAGR of 6.2%. Rapid growth in construction activities in countries like India, China, Japan, Australia, and others owing to rapid urbanization and development of smart cities is a major growth driving factor. For instance, as stated on January 4, 2022, in International Trade Administration, that promotes trade & investment activities, China has the highest urbanization rate in the world. Shanghai reports that by 2025, China will have equivalent of 10 New York-sized cities constructed since the 1990s. Also, China’s urban renewal policy aims to develop efficient and greener cities as the Chinese government aims to boost the urban living conditions in the country. Also, the Invest India, National Investment Promotion & Facilitation Agency, states that the construction industry in India is estimated to reach $1.4 trillion by 2025 owing to growth in the urban population and revolutionary schemes such as the revolutionary smart cities mission that aims at improving quality of life via modernized urban planning technology. These factors are anticipated to drive the Asia-Pacific window coatings market share during the analysis timeframe.        

Competitive Scenario in the Global Window Coatings Market

Product launch and acquisition are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading window coatings market players are 3M, Armolan, Avery Dennison Corporation, Eastman Chemical Company, Garware Suncontrol Film, LINTEC Corporation, Saint-Gobain, Polytronix, Inc., Purlfrost Ltd, and Solar Control Films Inc.

Porter’s Five Forces Analysis for the Global Window Coatings Market:

• Bargaining Power of Suppliers: The buyers in window coatings market are dependent on suppliers for purchase of raw materials such as glass and other chemical compounds. However, due to presence of large number of suppliers and less product difference, suppliers have moderate bargaining potential.  
  Thus, the bargaining power of suppliers is moderate.
• Bargaining Power of Buyers: The number of buyers in window coatings market are high owing to rapid growth in automotive as well as homes & buildings sector. Hence, buyers hold a dominant position in the market and have high bargaining potential. 
  Thus, buyer’s bargaining power will be high.
• Threat of New Entrants: New entrants entering the window coatings market are focusing on enhancing the product with the launch of technically advanced products such as smart window coatings. 
  Thus, the threat of the new entrants is moderate.
• Threat of Substitutes: The threat of substitutes is low owing to technological advancements and development of smart windows which is gaining significant popularity in developed economies. However, this technology is still under development stage and not adopted widely yet. 
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: Major companies operating in this market are focusing on acquisition, product launch, and product enhancement to stay ahead in the competition as well as to gain cost benefits. 
  Therefore, competitive rivalry in the market is high.