Heat Insulating Films Market Expected to Reach $15.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Heat Insulating Films Market," The heat insulating films market was valued at $9.8 billion in 2021, and is estimated to reach $15.8 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.

Heat insulating films is a material used to reduce heat transfer. It is typically made of plastic and is used to insulate windows, doors, and other areas where heat may escape from a building. The film works by reflecting and blocking heat transfer, reducing the amount of heat that enters or escapes a building and assisting in maintaining a comfortable indoor temperature. Endothermic films and reflective films are the type of heat insulating films available in market. 

Heat insulating films have become more popular in recent years as users become more aware of the importance of energy efficiency and indoor comfort. The growth in construction sector, particularly in the residential sector, is increasing the demand for heat insulating films. 

Heat insulating films can help reduce energy consumption by insulating the interior from heat, and the automotive industry is increasingly focused on developing energy-efficient vehicles. To maintain battery performance and extend battery life, electric vehicles require effective insulation.  

However, there are certain limitations associated with use of heat insulating films, some heat insulating films have limited durability, can be damage by condensation and UV rays. Metallized based heat insulating films create obstacles in the satellite and cell phone signals. Dyed heat insulating films may not be transparent which may affect the visibility in automotive. 

Governments across the world are enforcing strict building codes and regulations to encourage the use of energy-efficient insulation systems. The increasing demand for energy-efficient buildings. Increased construction activity, especially in the residential sector. All these factors are expected to offer new growth opportunities in the global thermal interface material market. 

The heat insulating films market analysis is segmented on the basis of type, end-use industry, and region. By type, the market is divided into endothermic films and reflective films. The reflective film segment is anticipated to grow at the fastest CAGR of 5.1% during the forecast period. Natural light and proper airflow is utmost important across buildings for ensuring  proper comfort level. However, large windows allow high amount of heat trapping inside the building. Reflective heat insulating films are applied on the outer surface of windows allowing proper control of natural light and heat transfer. All these factors have escalated the demand for reflective film in the building and construction industry.

In addition, these films are capable of reflecting sun’s infra-red rays while allowing absorption of UV rays. On the other hand, reflective films are appropriate energy conservation product over double-glazing. Double-glazing of window glass allows proper heat insulation, however, double-glazing of windows cost is high as compared to application of reflective film, which drives the demand for endothermic films. 

The end-use industries covered in the report include commercial buildings, residential buildings, automotive and others. The residential building application accounted for major market share of 40% in 2021. The aesthetic look of residential buildings mainly depends upon the natural light penetration through windows. However, bare glass windows without insulation film allows natural light penetration, however, creates excessive heat and expose residents to damaging ultraviolet (UV) rays.

Heat insulating films are capable of allowing penetration of natural light and simultaneously trap UV & IR rays. Curtains and window blinds are used for privacy and to some extent act as heat insulation product. However, use of blinds and curtains tend to block the natural light penetrating into residential buildings. Heat insulating films on the other hand help to reject sun heat radiations, thus improving the comfort and energy efficiency of the residential buildings. Installation of heat insulating films on constructed residential building window tend to minimize cold spots inside the residential buildings and reduce heating and cooling cost of HVAC systems.

Key players in the heat insulating films offer diverse portfolio of films, allowing customers to choose the film type on their intended application. For instance, 3M offers three types of residential heat insulating films, such as interior series, exterior series, and night vision series. Interior series heat insulating films allows high natural light transmission into the residential building spaces, thus ensuring excellent aesthetics. 

By region, the heat insulating films market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region showcased the fastest CAGR growth during the forecast period. Accumulation of solar heat energy is the prime factor for increasing the surface temperature of objects, which results in inconveniences in the industrial production and daily life. To overcome this issue, heat insulating films are widely used in commercial buildings. Sunlight produces unwanted glare that tend to increase the ambient temperature in buildings and automotive, thus increasing the use of HVAC systems.

However, HVAC systems tend to increase the energy consumption cost and contribute toward carbon emission. To overcome these issues, reflective window films are used, which reflect a portion of the sun rays that help keep the room cooler. According to the publication by Volza Grow Global, China is the largest exporter on insulation film in the world. On March 14, 2022, the Ministry of Public Security of the People's Republic of China issued a notice on further specifying fire management requirements on external thermal insulation materials for civil construction, which demanded a grade combustion performance of external thermal insulation materials for civil construction. 

Key players of the heat insulating films industry include DuPont, UBE Corporation, Toray Industries Inc., Johnson Window Films Inc., Singleton Group, 3M, Saint Gobain, Bleher Folientechnik GmbH, Cosmos Films Ltd., Avery Dennison Corporation. 

Key findings of the study:

• By film type, the reflective film segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.1% from 2022 to 2031.  

• By end-use industry, the commercial building end-use industry is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.3% from 2022 to 2031.  

• By region, Asia-Pacific garnered the highest share in 2021, in terms of revenue, growing at a CAGR of 5.5%.