A second advantage of static factory methods is that, unlike constructors, they are not required to create a new object each time they're invoked. This allows immutable classes (Item 15) to use preconstructed instances, or to cache instances as they're constructed, and dispense them repeatedly to avoid creating unnecessary duplicate objects. The Boolean.valueOf(boolean) method illustrates this technique: it never creates an object. This technique is similar to the Flyweight pattern [Gamma95, p. 195]. It can greatly improve performance if equivalent objects are requested often, especially if they...
third advantage of static factory methods is that, unlike constructors, they can return an object of any subtype of their return type. This gives you great flexibility in choosing the class of the returned object. One application of this flexibility is that an API can return objects without making their classes public. Hiding implementation classes in this fashion leads to a very compact API. This technique lends itself to interface-based frameworks (Item 18), where interfaces provide natural return types for static factory methods. Interfaces can't have static methods, so by convention, static...
The main disadvantage of providing only static factory methods is that classes without public or protected constructors cannot be subclassed.
you know all the possible values at compile time,
Note: use enums when you know all possible values