The global energy saving window film market is expected to exhibit a CAGR of 8.8% during the forecast period, owing to rising application of these films in construction and automotive industries, among others.
Among application, the construction segment held dominant position in the global energy saving window film market in 2022. With the increasing awareness regarding sustainable living and increased disposable income, people have started switching to constructing green buildings over conventional office/residential spaces. This trend is expected to boost demand for energy saving window films during the forecast period.
Among regions, Asia Pacific is expected to account for a significant market share during the forecast period (2023-2030), owing to increasing population in this region. Apart from population, factors such as increasing disposable income, increasing construction activities, and growing automotive industry are also expected to increase demand for energy saving window films in this region during the forecast period. For instance, as per the World Bank data, in 2015, China recorded a population of 1.37 billion, which increased and reached 1.39 billion by 2018. Furthermore, as per the National Bureau of Statistics of China, in 2019, China's per capita disposable income was recorded at US$ 4,462 and the per capita disposable income in rural areas was higher than that in urban areas. Moreover, as per the World Resources Institute, China is expected to spend around US$ 13 trillion on buildings by 2030. Such increasing construction activities in Asia Pacific is expected to boost demand for energy saving window films in this region during the forecast period.
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