Global Electrochromic Glass Market Size
Electrochromic glass is a special type of smart glass which allows its optical
properties to be reversibly changed when subjected to an electric voltage.
These glasses can change from transparent to translucent and opaque states.
They offer advantages like automatic light and heat control along with power
savings.
The
global Electrochromic Glass Market is estimated to be valued at US$ 2300.68 Mn or Bn in 2023 and is
expected to exhibit a CAGR of 9.7% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Growing adoption of smart and connected technologies in construction industry
is a major trend fueling the electrochromic glass market growth. Smart windows
integrated with IoT provides remote operation and monitoring capabilities along
with energy efficiency. In addition, increasing focus on green buildings is
also driving the demand as electrochromic glasses help reduce building's
overall energy consumption through daylighting and occupancy sensors controls.
Production of electrochromic glasses with advance features like aesthetic
appeal, rapid switching capabilities and durability at competitive costs
remains another developmental focus area.
Segment Analysis
The global electrochromic glass market is segmented by technology, material,
device, end user. By technology, the electrochromic coatings segment dominates
the global market and is expected to continue its dominance during the forecast
period owing to its wide applications in various end use segments like
architectural and automotive.
Key Takeaways
The Global
Electrochromic Glass Market Size is expected to witness high growth,
exhibiting CAGR of 9.7% over the
forecast period, due to increasing demand for energy efficient glasses from
construction and automotive industries.
Regional analysis
North America dominates the global electrochromic glass market holding around
35% of the total market share. This is attributed to rising demand from
automotive and architectural industries in the United States. Asia Pacific
exhibits the fastest growth rate over the forecast period driven by booming
construction activities in China and India.
Key players
Key players operating in the electrochromic glass market are Asahi Glass Co.
Ltd., Chromogenics AB, Guardian Industries Corporation, Gentex Corporation,
Magna Mirrors Holding GmbH, PPG Industries, Ravenbrick LLC, Sage
Electrochromics, Inc., View, Inc., Diamond Glass, Compagnie de Saint-Gobain
S.A., Research Frontiers Inc., Kinestral Technologies Inc., Hitachi Chemical
Co. Ltd, and Pleotint LLC. Asahi Glass Co. Ltd. accounts for the largest market
share owing to its diversified product portfolio and wide distribution network
across regions.
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