The electrochromic glass industry refers to the sector involved in the development, manufacturing, and distribution of electrochromic glass products. Electrochromic glass, often called smart glass or dynamic glass, is a type of glass that can change its opacity or tint in response to an electrical stimulus. This technology allows for the control of light, heat, and privacy within a space, making it popular in various applications.
The construction segment contributed to more than one-third of the global electrochromic glass market revenue in 2019 and is anticipated to rule the roost till 2027. This is due to rise in the drift to use electrochromic glazing in office projects and airport terminals. Simultaneously, the automotive segment would portray the fastest CAGR of 9.9% during the study period. The use of electrochromic glass in automotive parts ensure reduction of unwanted light & glare and build up heat inside the vehicle, thereby, making them preferable over normal glasses. This factor has propelled the segment growth.
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Here are some key aspects of the electrochromic glass industry:
- Technology: Electrochromic glass typically consists of multiple layers, including a conductive coating, electrochromic layer, ion conductor, and counter electrode. When an electrical voltage is applied, ions move between these layers, causing a change in the opacity or tint of the glass.
- Applications: Electrochromic glass has a wide range of applications, including:
- Architectural: Electrochromic windows are used in commercial and residential buildings to optimize natural light, reduce glare, and improve energy efficiency.
- Automotive: Some high-end automobiles feature electrochromic rearview mirrors and sunroofs, allowing drivers to adjust glare and privacy.
- Aerospace: Electrochromic windows are also used in aircraft to control sunlight and reduce the need for window shades.
- Consumer Electronics: Smart eyewear and electronic devices with adjustable tint lenses use electrochromic technology.
The windows segment accounted for more than half of the global electrochromic glass market share in 2019 and is expected to lead the trail by the end of 2027. Renovation of old office buildings and institutions are expected to offer fresh opportunities for the growth of the segment. The display segment, on the other hand, would register the fastest CAGR of 10.9% throughout the forecast period. Increase in trend of smart homes and smart offices are demanding more smart technologies such as electrochromic smart glass displays which, in turn, augments the segment growth.
- Benefits:
- Energy Efficiency: Electrochromic windows can reduce heating and cooling costs by controlling solar heat gain.
- Comfort: They provide occupants with control over the amount of natural light and glare.
- Privacy: Electrochromic glass can be tinted to increase privacy when needed.
- Aesthetics: They offer a modern and sleek design option for buildings and vehicles.
- Market Growth: The electrochromic glass market has seen steady growth due to increased awareness of energy-efficient technologies, stricter building codes, and a growing focus on sustainability. As more industries recognize the benefits of electrochromic glass, demand is expected to continue to rise.
Europe, followed by North America, held the highest share in 2019, garnering nearly one-third of the global electrochromic glass market, owing to the presence of key end-use industries such as major automotive companies and construction companies in this province. At the same time, the Asia-Pacific region would manifest the fastest CAGR of 9.9% from 2020 to 2027. Rise in the practice to develop smartphones containing electrochromic glasses has driven the market growth in this region.
- Competitive Landscape: The industry includes several manufacturers and suppliers of electrochromic glass and related technologies. Major players in the industry include companies like SageGlass (a subsidiary of Saint-Gobain), View, Inc., and Gentex Corporation, among others.
- Research and Development: Ongoing research and development efforts aim to improve the performance and cost-effectiveness of electrochromic glass technology. Innovations may lead to broader adoption in various industries.
Rise in construction applications of electrochromic glass and government incentives for installing energy saving solutions drive the growth of the global electrochromic glass market. On the other hand, high price of the glass impedes the growth to some extent. However, surge in demand from end-use industries is expected to create multiple opportunities in the industry.
- Regulations: The electrochromic glass industry may be subject to regulations related to energy efficiency, safety, and environmental impact, depending on the region and application.
- Challenges: Challenges facing the industry include cost considerations, durability concerns, and the need to educate potential users about the benefits of electrochromic glass.
According to the report, the global electrochromic glass industry was estimated at $1.4 billion in 2019, and is anticipated to hit $2.6 billion by 2026, registering a CAGR of 9.0% from 2020 to 2027.
Key players in the industry-
- ChromoGenics AB
- View Inc.
- Compagnie de Saint-Gobain S.A.
- Hitachi Chemical Co. Ltd.
- Kinestral Technologies Inc.
- Pleotint LLC
- AGC Inc.
- Polytronix Inc.
- Research Frontiers Inc.
- Smartglass International Ltd.
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