Press release
Electrochromic Glass Market Systems - Global Industry Analysis 2023
Electrochromic glass can be classified into electrically switchable electrochromic glass and non-electrical electrochromic glass. Electrochromic windows or glasses are part of a new generation of technologies called switchable glazing or smart windows that change transparency, light transmittance, or shading of windows in response to an environmental signal. Electrochromic smart glasses can be clear, tinted, opaque, and colored.
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Electrochromic glasses prevent solar heat, thus reducing the need for air conditioning. Electrochromic glass plays a vital role in maximizing sunlight, thereby reducing the need for electric lighting. Thus, electrochromic glass is preferably used in construction, automotive, aerospace, and marine industries.
Electrochromic glass is used in the transportation industry. Electrochromic glass is increasingly used in automotive, aircraft, train, buses, and marine craft. Premium automotive players such as BMW AG and Mercedes-Benz SLK use electrochromic suspended particles smart glass technology in windows and roofs. Electrochromic glass is used in the construction of commercial and residential windows in the construction industry. Electrochromic glass is also known for its usage in large-area information displays. These glasses are also increasingly used in military and specialty applications. New applications such as shutters for smartphone cameras or electrochromic displays for electrochromic glass may be launched in the next decade. Thus, electrochromic glass is used in a wide range of applications across various industries.
The market for electrochromic glass is projected to expand at a healthy CAGR during the forecast period. Asia Pacific is likely to be the fastest growing market for electrochromic glass during the forecast period. Growth in Asia Pacific is primarily driven by rising demand for electrochromic glass in domestic and institutional building constructions in the region. Increasing awareness regarding green buildings is expected to boost the usage of electrochromic glass in the construction industry. Expanding economy and increase in per capita income are some of the key factors that boost the electrochromic glass market in Asia Pacific.
The electrochromic smart glass market in Asia Pacific is anticipated to witness the fastest growth during the forecasted period. In North America, the U.S. accounts for the major portion of the electrochromic smart glass market. The electrochromic glass market is anticipated to experience significant growth in the near future due to increase in the number of applications. However, electrochromic smart glass windows are still high priced; price uniformity would only be reached if global capacity utilization reaches economies of scale. This is acting as a major restraint for the growth of the global electrochromic glass market.
Some of the major companies operating in the global electrochromic glass market are Smartglass International Limited, E. I. du Pont de Nemours and Company, Asahi Glass Co., Ltd., View Inc., SAGE Electrochromics, Saint-Gobain S.A., Guardian Industries, Merck & Co., Inc., PPG Industries, ChromoGenics AB, SWITCH Materials, Corning Incorporated., and TOKAIRIKA, CO, LTD.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
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