Electrochromic Glass Market Outlook 2027 | A Modern Report with Future Business Scope

Electrochromic glass industry is a segment of the smart glass industry that focuses on the development, manufacturing, and application of electrochromic glass.

NEW CASTLE, DELAWARE, UNITED STATES, September 22, 2023/EINPresswire.com/ -- The electrochromic glass industry is a segment of the smart glass industry that focuses on the development, manufacturing, and application of electrochromic (EC) glass technology. Electrochromic glass, often referred to as smart glass or switchable glass, has the unique property of changing its transparency or tint when an electric current is applied. This technology is used to control the amount of light and heat that enters a space, providing energy efficiency, privacy, and comfort benefits in various applications.

According to the report, the global electrochromic glass industry was estimated at $1.4 billion in 2019, and is anticipated to hit $2.6 billion by 2026, registering a CAGR of 9.0% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1023

𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐤𝐞𝐲 𝐚𝐬𝐩𝐞𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐞𝐥𝐞𝐜𝐭𝐫𝐨𝐜𝐡𝐫𝐨𝐦𝐢𝐜 𝐠𝐥𝐚𝐬𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲: Electrochromic glass consists of multiple layers, including a conductive layer and electrochromic materials (often metal oxides). When a voltage is applied, ions move within the electrochromic layer, causing a reversible change in the glass's opacity or color. This allows for the adjustment of light and heat transmission.

Rise in construction applications of electrochromic glass and government incentives for installing energy saving solutions drive the growth of the global electrochromic glass market. On the other hand, high price of the glass impedes the growth to some extent. However, surge in demand from end-use industries is expected to create multiple opportunities in the industry.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:

- Architectural: Electrochromic glass is used in windows, skylights, and façades of buildings to control natural light and reduce the need for artificial lighting and air conditioning. This promotes energy efficiency and occupant comfort.
- Automotive: Some high-end automobiles incorporate electrochromic glass in sunroofs, rearview mirrors, and windows to reduce glare and heat inside the vehicle.
- Aerospace: Electrochromic windows are used in aircraft to manage sunlight, reduce cabin heat, and improve passenger comfort.
- Consumer Electronics: Smaller-scale applications include electronic sunglasses and rearview mirrors.

The windows segment accounted for more than half of the global electrochromic glass market share in 2019 and is expected to lead the trail by the end of 2027. Renovation of old office buildings and institutions are expected to offer fresh opportunities for the growth of the segment. The display segment, on the other hand, would register the fastest CAGR of 10.9% throughout the forecast period. Increase in trend of smart homes and smart offices are demanding more smart technologies such as electrochromic smart glass displays which, in turn, augments the segment growth.

𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬:

- Energy Efficiency: Electrochromic glass can help reduce energy consumption by minimizing the need for heating, cooling, and artificial lighting.
- Privacy Control: Users can adjust the transparency of the glass to control visibility from both sides, making it useful for residential and commercial spaces.
- Glare Reduction: In vehicles and buildings, electrochromic glass can reduce glare from the sun, enhancing safety and comfort.
- UV Protection: It can block a significant amount of harmful UV rays, protecting interiors and occupants from sun damage.

The construction segment contributed to more than one-third of the global electrochromic glass market revenue in 2019 and is anticipated to rule the roost till 2027. This is due to rise in the drift to use electrochromic glazing in office projects and airport terminals. Simultaneously, the automotive segment would portray the fastest CAGR of 9.9% during the study period. The use of electrochromic glass in automotive parts ensure reduction of unwanted light & glare and build up heat inside the vehicle, thereby, making them preferable over normal glasses. This factor has propelled the segment growth.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

- Cost: Electrochromic glass technology can be expensive to manufacture and install compared to traditional glass.
- Durability: Long-term performance and durability can be a concern, as the technology involves electrical components.
- Response Time: The speed at which the glass changes its opacity can vary among different products, and faster response times are often preferred.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬: The electrochromic glass industry has been growing due to increased awareness of energy efficiency and sustainability. Advances in technology have improved the performance and cost-effectiveness of electrochromic glass, making it more accessible to various markets.

Europe, followed by North America, held the highest share in 2019, garnering nearly one-third of the global electrochromic glass market, owing to the presence of key end-use industries such as major automotive companies and construction companies in this province. At the same time, the Asia-Pacific region would manifest the fastest CAGR of 9.9% from 2020 to 2027. Rise in the practice to develop smartphones containing electrochromic glasses has driven the market growth in this region.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧: Several companies are active in the electrochromic glass industry, including industry leaders like SageGlass (a subsidiary of Saint-Gobain), View Inc., and Research Frontiers. These companies are continually innovating to improve the technology and expand its applications.

As environmental concerns and energy efficiency standards continue to gain importance, the electrochromic glass industry is likely to see further growth and innovation in the coming years.

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲-

- ChromoGenics AB

- View Inc.

- Compagnie de Saint-Gobain S.A.

- Hitachi Chemical Co. Ltd.

- Kinestral Technologies Inc.

- Pleotint LLC

- AGC Inc.

- Polytronix Inc.

- Research Frontiers Inc.

- Smartglass International Ltd.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/electrochromic-glass-market/purchase-options

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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