Electrochromic Glass Market is estimated to grow with a CAGR of 11.50% during the forecast period
Electrochromic Glass Market size was valued at USD 3.56 billion in 2020 and expected to expand to USD 10.59 billion at a compound annual growth rate (CAGR) of 11.50%. Electrochromic glass is a type of smart glass that changes its transparency when it is exposed to a voltage. Depending on how much voltage is supplied to the glass, it becomes opaque or translucent. This electrochromic glass is utilised in non-residential buildings all over the world, including workplaces, hospitals, and hotels. It is particularly energy efficient and does not allow excess heat to enter a room, keeping the space cooler in the summer and lowering air conditioning costs. This is accomplished by reflecting light back onto the glass, keeping the room colder.
The report "Global Electrochromic Glass Market, By Material (Polymers, Nanocrystals, Viologens), By Device (Windows, Mirror, Display), By Application (Commercial, Residential, Transportation, Retail, Hospitality), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030’’
Key Highlights:
- AGP Group, one of the world's major glazing producers, launched an automobile glazing plant in Belgium in 2019 to produce electrochromic glass panoramic roofs.
- Corning Incorporated said in January 2021 that Lava would be India's first mobile device company to sell a Rs. 5,499 military-grade smartphone with Gorilla Glass 3. The Z1 smartphone, which is set to be released in January, is part of a new Lava device portfolio that includes the Z2, Z4, and Z6 smartphones, all of which have Gorilla Glass 3 and provide an entry point for many Indian customers looking to upgrade from a feature phone to a smartphone.
Analyst View:
The market is being boosted by an increase in the usage of electrochromic glass and features such as privacy at the touch of a button and increased security. Electrochromic glass has also made its way into the automobile industry, where it may be seen in car windows and windscreens. However, the high cost of electrochromic glass and a lack of innovation are limiting the market's growth. On the contrary, the advancement of smart glass technology opens up a slew of new industry opportunities. However, because of the COVID-19 outbreak, major end-users of electrochromic glass, such as construction and automotive manufacturers, have had their production suspended due to a lack of personnel.
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Key Market Insights from the report:
The Global Electrochromic Glass Market size was valued at USD 3.56 billion in 2020 and expected to expand to USD 10.59 billion at a compound annual growth rate (CAGR) of 11.50%. The global electrochromic glass market has been segmented on the basis of material, device, application, and region.
- Based on Material, Global Electrochromic Glass Market is segmented into Polymers, Nanocrystals, Viologens.
- Based on Device, Global Electrochromic Glass Market is segmented into Windows, Mirror, and Display.
- Based on Application, Global Electrochromic Glass Market is segmented into Commercial, Residential, Transportation, Retail, and Hospitality.
- By Region, the Global Electrochromic Glass Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Electrochromic Glass Market:
Key players operating in the global electrochromic glass market includes Asahi Glass Co., Ltd., Chromogenics AB, Econtrol-Glas GmbH & Co. KG, Guardian Industries Corporation, Gentex Corporation, Magna Mirrors Holding GmbH, PPG Industries, Ravenbrick Llc, Sage Electrochromics, Inc., and View, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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