Electrochromic Glass Market (2020 to 2027) - Growth, Trends, COVID-19 Impact, and Forecasts

 

Market Overview:

Electrochromic glass is used in various end-user industries such as building and construction, automobile, aerospace, and marine. The growing infrastructural investments in the developing region across the globe are the major factors propelling the global electrochromic glass market. The growing adoption rate in the construction sector along with the augmenting demand from the automobile sector are other factors contributing to the growth of the market. Among the various end-user industry, building and construction industry is closely followed by automobile sector, which is the dominant segment and is expected to show the same trend during the forecast years. The development of hi-tech commercial and residential buildings coupled with the growing use of electrochromic glass by the key automobile manufacturers are other factors boosting the market demand. However, the high cost and low awareness are some of the down side of the global electrochromic glass market.

 

Market Segmentation

The global Electrochromic Glass Market is segmented into the material, application, and end-user industry. On the basis of the material, the market is segmented into transition metal oxide (TMO), nanocrystal, viologen, polymer, reflective hydride. On the basis of the application, the global electrochromic glass market is segregated into windows, mirrors, displays, doors, and others. On the basis of end-user industry, the market is bifurcated into building & construction, automotive, aerospace, marine, and others.

 

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Market Scenario

The transportation end-user is anticipated to be a major segment and is expected to register a significant growth during the review period. The need for reduction of impact by heat and protection from UV rays with low energy consumption is driving the use of electrochromic glass in the automobile, aerospace and marine sectors. Moreover, the major aerospace such as Airbus SA, The Boeing company are shifting towards the use of electrochromic glass, which is also contributing to the growth of the segment.

 

Regional Analysis

The global electrochromic glass market is spanned across five key regions: Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa. Among these, Asia Pacific is the fastest growing market and is anticipated to witness a considerable CAGR during the forecast years. The developing end-user industries in the region such as construction and automotive is expected to fuel the market growth. The major countries attributing to the growth of the electrochromic glass in this region are India, China, and Japan. North America is the dominant region in the electrochromic glass market. The developed end-user industries coupled with the growing adoption of electrochromic glass are the major factor contributing to the growth of the market. The major countries attributing to this growth are the Canada and U.S. The presence of the major manufacturers in the region coupled with the growing innovations is expected fuel market growth. For instance, View Incorporation has raised USD 200 million for the development of electrochromic smart glass in 2017.

European electrochromic glass market is mainly driven by the developed automobile and electronic industry. Moreover, the increasing use of electrochromic glass in the aviation industry coupled with the growing demand from the automobile sector is anticipated to further fuel the growth of the market during the forecast years. moreover, the growing encouragement by the government in the energy sustainable constructions has increased the adoption of smart glass in countries such as Germany, France, Belgium, and others.

 

Competitive Analysis

Some of the prominent players operating in the global electrochromic glass market are SAGE Glass, Inc.(U.S.), ChromoGenics AB (Sweden), RavenBrick LLC (U.S.), Asahi Glass Company (Japan), Gentex Corporation (U.S.), PPG Industries (U.S.), Magna Glass & Window, Inc. (U.S.) , Guardian Industries Corporation (U.S.), PPG Industries (U.S.), and View, Inc. (U.S.) among others.

 

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