30-Aug-2022 | Facts and Factors
According to Facts and Factors, the electrochromic glass market size was worth USD 1,629.30 million in 2021 and is estimated to grow to USD 2,702.55 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.80% over the forecast period. The report analyzes the electrochromic glass market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the electrochromic glass market.
The chromogenic substance used in the technologically advanced electrochromic glass changes its transparency in response to heat and light intensity. In the electronics sector, this kind of glass is often referred to as dynamic glass and provides advantages, including on-demand privacy, control, and energy efficiency. When a voltage is applied to the electrochromic glass, it alters its transparency and functions somewhat like smart glass. Widely utilized in commercial structures like offices, hospitals, and hotels is electrochromic glass. Because it uses less energy and prevents excessive heat from entering the room, it keeps the temperature in the room cooler during the summer and lowers the cost of air conditioning. As a result of the light reflecting off the glass, spaces are kept cooler. Additionally, these materials don't need the energy to keep a specific hue after the modification.
Browse the full “Electrochromic Glass Market Size, Share, Growth Analysis Report By Material (Transition Metal Oxide, Nanocrystal, Viologen), By Application (Windows, Mirrors, Displays, Doors), By End-Use Industry (Building & Construction, Aerospace, Automotive), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/electrochromic-glass-market
Due to its relative advantages over traditional glass, the global market for electrochromic glass is anticipated to expand throughout the forecast period. The capacity of electrochromic glass to conserve energy through windows, sunroofs, and displays is a crucial factor that will fuel the market's growth. The global electrochromic glass market is anticipated to expand due to features that can easily increase privacy (by making the glass more opaque) and shield furniture and artwork from fading too much light. Shortly, electrochromic glass panels will be more prevalent in the car sector as smart technology features start to play a larger role in consumers' purchasing decisions. The industry is anticipated to expand over the projected period due to technological advancements and rising demand for energy-efficient solutions across several key industry verticals. Government energy-saving policies have a big impact on the development of the electrochromic glass sector. Although electrochromic glass is a very affordable product, the market's expansion is constrained by the lack of awareness among end users, such as builders and architects, and the slower performance of large glass surfaces. Additionally, the expansion of the electrochromic glass market is constrained by fluctuating raw material costs and high acquisition costs.
The electrochromic glass market is segregated based on material, application, end-use industry and region. Based on material, the market is divided into transition metal oxide, nanocrystal, and viologen. Among these, the transition metal oxide segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on application, the market is classified into windows, mirrors, displays and doors. In 2021, the windows category dominated the global market. Based on the end-use industry, the market is classified into building & construction, aerospace and automotive. The automotive segment dominated the market in 2021.
The electrochromic glass market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe is anticipated to have a dominating position in the global market for electrochromic glass in 2021. Electrochromic glass for windows and doors is used more frequently by the European government to promote sustainable green buildings. It uses electrochromic glass to reduce the cost of heating, lighting, and air conditioning. There is an increasing emphasis on sustainable green buildings in European countries such as France, Germany, Belgium, and others. As a result, electrochromic glass market growth in the European region is being driven by sustainable green buildings.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 1,629.30 Million |
Projected Market Size in 2028 |
USD 2,702.55 Million |
CAGR Growth Rate |
8.80% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
OSAGE Glass, ChromoGenics AB, RavenBrick LLC, Asahi Glass Company, Gentex Corporation, PPG Industries, Magna Glass & Window, Guardian Industries Corporation, PPG Industries., and Others |
Key Segment |
By Material, Application, End-Use Industry, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key players in the electrochromic glass market include OSAGE Glass, ChromoGenics AB, RavenBrick LLC, Asahi Glass Company, Gentex Corporation, PPG Industries, Magna Glass & Window, Guardian Industries Corporation, and PPG Industries.
Recent Development:
- December 2019: As part of the Copen Coupe from Daihatsu Motors, AGC introduced the world's first anti-fogging glass.
Global Electrochromic Glass Market is segmented as follows:
By Material
- Transition Metal Oxide
- Nanocrystal
- Viologen
By Application
- Windows
- Mirrors
- Displays
- Doors
By End-Use Industry
- Building & Construction
- Aerospace
- Automotive
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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