The recent report published by Market Research Future (MRFR) on the global electrochromic glass market reveals robust CAGR is on the cards for the market during the forecast period (2022-2027). It can also scale impressive market valuation by the end of 2023. The electrochromic glass is a type of smart glass or switchable glass that adheres to the electrochromic mechanism. These glasses are garnering a lot of accolades owing to their unique ability to control light and heat transfer.
The global electrochromic glass market was valued at $1.4 billion in 2021 and is projected to reach $2.6 billion by 2027, growing at a CAGR of 9% from 2022 to 2027.
Prominent players operating in the global electrochromic glass market are ChromoGenics AB (Sweden), SAGE Glass, Inc. (U.S.), Asahi Glass Company (Japan), Guardian Industries Corporation (U.S.), RavenBrick LLC (U.S.), Gentex Corporation (U.S.), Magna Glass Window, Inc. (U.S.), PPG Industries (U.S.), PPG Industries (U.S.), View, Inc. (U.S.) and others.
The mechanism allows the glass to change color and opacity when charged. With wall switches, remote controls, light timers, sensors, and other devices, this transition can be triggered. MRFR’s report on the electrochromic glass market harps on the segmental analysis that carries both value-wise and volume-wise data of the market. At the same time, competitive analysis of electrochromic glass market behemoths is playing an integral role in enriching the report quality.
The market has huge potential in aerospace, automotive, and construction. In the construction sector, the demand for green buildings is sure to drive the market ahead. In the aerospace sector, luxury is driving the market significantly. To provide such extra comfort, airplane manufacturers are integrating these glasses as an integral part of their production method. Defense is also using such glasses for aviation.
MRFR segments the global electrochromic glass market by material, application, and end-user industry for a better understanding of the market.
Material-wise, the electrochromic glass market can be segmented into transition metal oxide (TMO), nanocrystal, viologen, polymer, and reflective hydride.
Based on the application, the Electrochromic Glass Market Size Can be segmented into windows, mirrors, displays, doors, and others.
Based on the end-user, the electrochromic glass market includes building construction, automotive, aerospace, marine, and others. The market has a significant number of takers in the automotive industry. But the building construction sector is also gaining momentum.
MRFR’s region-specific analysis of the electrochromic glass market includes regions namely Europe, Latin America, North America, Asia Pacific (APAC), and the Middle East Africa (MEA).
The market is benefitting the most from the presence of a huge market like North America. The regional market has a big player like the U.S. where the financial boom has ensured high investment capacity. This is triggering the intake of the glass in the construction and automotive sector. It is also percolating substantially into aviation, both commercial and military. The regional market is on an ever-growing curve.
Europe’s Electrochromic Glass Market is on the second spot and the credit goes to infrastructural features that the region shares with North America. In addition, the presence of global players in the region can ensure high growth for the market. These companies often indulge in a strategic partnership or joint ventures which provide the market with the much-needed push.
The APAC market is all set to grow with the fastest CAGR during the forecast period. China, Japan, and India are three major countries to ensure increased privacy and luxury are adopting this technology. The automotive sector in this region is booming more than ever and it is shouldering a huge part of the regional market growth. Aerospace and the construction sector is also providing much
In 2018, researchers from the University of Delaware have developed a new type of electrochromic glass that would cost only a fraction of the manufactured by others. This can trigger eco-friendly construction and allow automotive to use it more.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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