Electrochromic Glass Market Overview
The global electrochromic glass market was valued at $1.4 billion in 2021 and is projected to reach $2.6 billion by 2027, growing at a CAGR of 9% from 2022 to 2027.
The global report on the electrochromic glass market is expected to register substantial growth during the forecast period of 2022 to 2027. Market Research Future (MRFR) claims that this progress would get tailwinds from industries like automotive, aerospace, building & construction, smart electronic gadgets, and others. The rising construction activity and growing demand for smart homes are expected to trigger growth. In fact, the market may benefit from the rising disposable income and funding for the research and development sector.
Electrochromic Glass Market Segmentation:
The global study on the electrochromic glass has been segmented on the basis of application, material, and end-user industry. These segments and their data are backed by scientific approaches like graphs, charts, and others, along with a proper factor-based analysis.
By material, the report on the electrochromic glass market has been segmented on the basis of nanocrystal, viologen, transition metal oxide (TMO), reflective hydride, polymer, and others.
By application, the discussion on the global electrochromic glass market includes doors, displays, mirrors, windows, and others. The windows segment has a substantial chance of registering growth due to its demand in a residential and commercial application.
By end-user industry, the study on the global electrochromic glass market has been segmented into building & construction, automotive, aerospace, marine, and others. The aerospace industry is benefiting notably from the recent changes. Increasing demand for smart homes to inspire the building and construction sector.
Regional Analysis:
Technological support, a better influx of investment, and investment capacity are expected to put the North American market in the driver’s seat. The regional market is witnessing a hike in the construction of smart buildings. Also, the aerospace and automotive sectors are expected to transform the regional market. In terms of revenues, Europe stands second and the region is profiting from markets in France, Germany, Italy, the UK, and others.
Key Players
- SAGE Glass
- ChromoGenics AB (Sweden)
- RavenBrick LLC (U.S.)
- Asahi Glass Company (Japan)
- Gentex Corporation (U.S.)
- PPG Industries (U.S.)
- Magna Glass & Window
- Guardian Industries Corporation (U.S.)
- PPG Industries (U.S.)
Competitive Landscape:
ChromoGenics AB (Sweden), SAGE Glass, Inc.(U.S.), Asahi Glass Company (Japan), RavenBrick LLC (U.S.), PPG Industries (U.S.), PPG Industries (U.S.), Gentex Corporation (U.S.), Guardian Industries Corporation (U.S.), Magna Glass & Window, Inc. (U.S.), View, Inc. (U.S.) and others are some of the major companies taking notable actions in improving the global market growth. These tactical changes span across moves like merger, acquisition, innovation, fund for research and development, and others. MRFR had their latest moves recorded in the report to understand how trends are affecting the outcome of the market.
Industry News:
In January 2020, OnePlus announced a new concept phone called Concept One in collaboration with McLaren that will use an electrochromic glass for its rear side and make the cameras invisible. This is a smart technology that they would not commercialize immediately, but they displayed the effective use of it to trigger further research work.
In June 2020, Crown Electrokinetics, a company known for its innovative methods to boost the smart glass industry based out of Corvallis, announced that Hudson Pacific Properties had shown interest in investing in this startup. Emerged from the intellectual property developed at Hewlett Packard (HP, Inc.), this new company has recently launched DynamicTint, which will help glasses turn quickly from clear to dark and back. In the construction sector, this glass will gain substantial traction.
During the COVID-19 crisis, due to the arrest in manufacturing process, the market took a blow. The major reason for this slackening of growth is the curb in the intake of the product in building & construction and other industries. It also suffered loss in the automotive sector. However, countries are getting back to normalcy, which may improve the scenario.
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