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| Global Electrochromic Glass Market Size |
Electrochromic glass is a thin film material which can change its light
transmission properties when voltage, light, or heat is applied. It finds wide
application in residential and commercial constructions to control heat and
light passing through windows. With the rising trend of smart homes and
commercial buildings worldwide, the demand for electrochromic glass is
increasing rapidly. It allows automatic adjustment of indoor brightness and
thermal insulation as per the requirements.
The global
Electrochromic Glass Market is estimated to be valued at US$ 2300.68 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The surging demand for smart homes and smart commercial buildings is one of the
major trends driving the electrochromic glass market. Electrochromic glass
allows automatic control of indoor lighting and temperature conditions
according to the occupancy and weather, thereby reducing energy costs
substantially. Many residential and commercial construction projects now
include electrochromic glass windows to achieve passive house standards. Furthermore,
advancements in thin-film coating technologies have enhanced the self-cleaning
and durability of electrochromic glass, boosting its adoption in the
construction industry. The development of smart switchable windows for
airplanes and automobiles is also propelling the electrochromic glass market.
Segment Analysis
The global electrochromic glass market is segmented by technology, material,
end-use industry, and region. Based on technology, the market is classified
into polymer-based, nanocrystal-based and viologen-based electrochromic glass.
The polymer-based electrochromic glass segment dominates the market and
accounted for nearly 55% share of the overall market in 2023 due to its
increasing demand in the construction sector. Polymer-based electrochromic
glass offers properties like reversible color change, controllability, and ease
of manufacturing at low cost.
Key Takeaways
Global
Electrochromic Glass Market Size is expected to witness high growth
over the forecast period of 2023 to 2030.
Regional analysis: Europe accounted for over 30% market share in 2023 due to
increased adoption of electrochromic glasses in construction and automotive
industries. The region is expected to retain its dominance during the forecast
period due to supportive government policies and initiatives towards green
construction.
Key players: Key players operating in the electrochromic glass market are glass
change, View Inc, AGC Glass Europe, Gentex Corporation, Xenxia Technology Ltd.,
Saint Gobain, Magna Glass & Window, Polytronix Inc., Diamond Glass
(Smartglass International), and Corning. Glass Change is currently dominating
the market with a revenue share of over 15% in 2023 due to its strong
distribution network and innovative product offerings.
Key players related content: Key players operating in the electrochromic glass
market are Glass Change, View Inc, AGC Glass Europe, Gentex Corporation, Xenxia
Technology Ltd., Saint Gobain, Magna Glass & Window, Polytronix Inc.,
Diamond Glass (Smartglass International), and Corning. Glass Change is
currently dominating the market with a revenue share of over 15% in 2023 due to
its strong distribution network and innovative product offerings.
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