Window Films Market Segment Analysis – Geography
Asia Pacific region held the largest share in the Window Films Market in 2020 up to 42% followed by North America and Europe. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years. China is driving much of the window films market demand in Asia-Pacific region followed by India and Japan. Of the five fastest growing regions in construction sector, other than U.S. all are Asian countries including China and India who majorly drive the demand for construction investment in this region. The strong and healthy growth in construction sector is associated with growing population and middle-class economy, which tend to drive APAC residential construction market further and hence the window films market. The number of buildings that have illuminated window films are growing sharply in APAC region. The increasing number of new building constructions, along with the rise in the number of renovation projects has further propelled the market. Currently the construction industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.