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Electrochromic Glass Market Size, Share Global Analysis Report, 2022 – 2028
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
Industry Insights
[207+ Pages Report] According to Facts and Factors,the global 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 the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the electrochromic glass market.
Market Overview
Technologically, electrochromic glass consists of chromogenic material that adjusts its transparency in response to heat and light intensity. This type of glass is also known as dynamic glass in the electronics industry and offers benefits such as on-demand privacy, control, and energy efficiency. The electrochromic glass changes its transparency when a voltage passes through it, making it a smart glass. In non-residential buildings such as offices, hospitals, and hotels, electrochromic glass is widely used. It maintains a cooler temperature during summer and cuts the cost of air conditioning because it conserves energy and doesn't allow excess heat into the room. As a result, rooms are kept cooler because the light is reflected from the glass.
Furthermore, these materials do not require electricity to maintain a particular shade after the change. The global electrochromic glass market is expected to grow over the forecast period due to its relative advantages over conventional glass. A significant aspect that will propel electrochromic glass market growth is the ability to conserve energy through windows, sunroofs, and displays made from this glass.
COVID-19 Impact:
Infrastructure and automotive industries were severely affected by COVID-19. Many countries imposed lockdowns due to the spread of COVID-19 across the globe, which affected the movement of people and goods. During the pandemic, supply chain operations were disrupted, which resulted in delays and postponements in infrastructure and automobile projects. Consequently, the global electrochromic glass market experienced slow growth during the pandemic.
Key Insights
- As per the analysis shared by our research analyst, the global electrochromic glass market value is expected to grow at a CAGR of 8.80% over the forecast period.
- In terms of revenue, the global electrochromic glass market size was valued at around USD 1,629.30 million in 2021 and is projected to reach USD 2,702.55 million by 2028.
- The global electrochromic glass market is expected to grow over the forecast period due to its relative advantages over conventional glass. A significant aspect that will propel electrochromic glass market growth is the ability to conserve energy through windows, sunroofs, and displays made from this glass.
- By material, the transition metal oxide segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period.
- By application, the windows category dominated the market in 2021.
- Europe dominated the global electrochromic glass market in 2021.
Growth Drivers
- Increasing adoption in various end-user industries to drive market growth
Market growth is expected to be driven by the increasing adoption of electrochromic glass in industries such as offices, hospitals, automobiles, and hotels. In the summer, electrochromic glass helps keep spaces cooler and lowers air conditioning costs because it doesn't let excess heat into a room. As a result, electrochromic glass adoption is expected to increase, thereby driving its growth. With the increasing use of electrochromic glass, features like privacy at the touch of a button, and increased security, the electrochromic glass market is expected to experience significant growth. It is also expected to see increased adoption in commercial spaces since it is an energy-efficient alternative to automated window panes/shutters, driving the market growth.
Restraints
- Lack of awareness of electrochromic glass products hinders the market growth
Electrochromic glass market growth is heavily influenced by government energy conservation protocols. Although electrochromic glass is economically viable, it is not well known to end users, especially builders and architects. It is slightly slower to adjust to large glass surfaces than smaller ones. Several technical drawbacks such as switching time delay and lack of 100% transparency are expected to affect the market's growth adversely.
Segmentation Analysis
The global electrochromic glass market has been segmented into the material, applications, and end-user industry.
Based on material, the transition metal oxide, nanocrystal, and viologen are segments of the global electrochromic glass market. In 2021, the transition metal oxide category dominated the global market.
Based on applications, the market is classified into windows, mirrors, displays and doors. In 2021, the windows category dominated the global market. As a result of a potential difference applied across the terminal of the material attached to the surface ends, electrochromic glass can transform from transparent to opaque. These are increasingly used as windows for commercial and residential buildings, automobile mirrors and windows, and airplane windows. A major driving factor for the growth of the electrochromic glass market is the ability to control transparency or opaqueness remotely to enable user privacy or to control lighting conditions.
Based on the end-user industry, the market is classified into building & construction, aerospace and automotive. The automotive segment dominated the market in 2021. In automotive applications, electrochromic glass is found in sunroofs, side windows, sun visors, and rear windows. Compared to normal glass, electrochromic glass in these automotive parts reduces unwanted light, glare, and heat build-up inside the vehicle. In addition to improving fuel efficiency, this reduces carbon emissions from the vehicle.
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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Recent Developments
- May 2019: NSG Group signed an agreement with Ubiquitous Energy. As part of the ongoing joint development work, Ubiquitous Energy is developing, producing, and integrating its ClearView Power technology into architectural window glass to generate solar electricity for buildings.
Regional Landscape
- Europe dominated the electrochromic glass market 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. Additionally, between 2022 and 2028, the market in the Asia Pacific is anticipated to develop at the greatest CAGR. In the Asia Pacific, electrochromic glass is growing rapidly due to the rapid growth of the automobile industry and the growing investment in infrastructure.
Competitive Landscape
- OSAGE Glass
- ChromoGenics AB
- RavenBrick LLC
- Asahi Glass Company
- Gentex Corporation
- PPG Industries
- Magna Glass & Window
- Guardian Industries Corporation
- PPG Industries.
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 Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- 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
Table of Content
Industry Major Market Players
- OSAGE Glass
- ChromoGenics AB
- RavenBrick LLC
- Asahi Glass Company
- Gentex Corporation
- PPG Industries
- Magna Glass & Window
- Guardian Industries Corporation
- PPG Industries.
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