In 2022, the size of the worldwide electrochromic glass market was US$ 1.8 billion. The demand for electrochromic glass will increase at a CAGR of 8.0% during the following 10 years. The global market for electrochromic glass will reach US$ 3.9 billion in value by 2032.In the construction industry, electrochromic glass adoption will continue to be strong. According to the analysis, the construction industry would grow at a 7.8% CAGR between 2022 and 2032.
The global market for electrochromic glass is being driven by an increase in demand from the construction and automotive industries.
Smart glass, also referred to as electrochromic glass, is a type of glass whose opacity changes in reaction to an electric current. It is becoming more and more used in the automotive and construction industries. It is gaining wider popularity across construction and automotive sectors. This is due to its capacity to conserve energy and enhance privacy and comfort.
Electrochromic glass can help reduce building energy consumption. This it does, by reducing the amount of heat and light that enters the interior. It is becoming a key technology for green and sustainable building concepts.
High adoption of electrochromic glass in vehicles will boost sales through 2032. One of the main advantages of electrochromic glass in automobiles is its capacity to automatically adjust its tint in accordance with ambient lighting conditions.
For example, in direct sunlight, the glass darkens to lessen glare, while in low light, the glass becomes more transparent to enhance visibility. By blocking out heat from the sun and reducing glare and improving visibility, electrochromic glass can help ease the burden on an automobile’s air conditioning system.
Smart glass is used in various cars to reduce heat buildup and maintain a comfortable interior temperature. Therefore, the market for electrochromic glass is projected to expand during the assessment period as electrochromic glass adoption in automobiles rises.
Key Takeaways from the Electrochromic Glass Market Report:
- Global electrochromic glass sales are set to rise at 8.0% CAGR between 2022 and 2032.
- By application, windows segment will thrive at 7.9% CAGR during the assessment period.
- By end-use industry, construction segment is likely to expand at 7.8% CAGR through 2032.
- The United States electrochromic glass market will reach a valuation of US$ 824.4 million by 2032.
- China electrochromic glass market is forecast to progress at 9.0% CAGR through 2032.
- Electrochromic glass demand across Korea will increase at 8.4% CAGR between 2022 and 2032.
- By 2032, Japan electrochromic glass market is set to cross a valuation of US$ 285.5 million.
“Rapid shift towards green and sustainable building is set to bolster electrochromic glass sales. Further, booming automotive sector will create growth prospects for the market. Says a lead Future Market Insights analyst.
Who is Winning?
Westminster International Ltd., AGG Inc., ChromoGenics AB, Compagnie de Saint-Gobain S.A., Showa Denko, Halio, Inc., Suntuitive Glass, Polytronix, Inc., Diamond Glass, Smartglass International, and View, Inc. are few of the leading electrochromic glass manufacturers profiled in the report.
New product launches, mergers, acquisitions, partnerships, and investments in research and development are key strategies adopted by electrochromic glass companies.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the electrochromic glass market presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals extensive growth in terms of application (windows, mirrors, and display) and end-use industry (construction, automotive, and aerospace) across various regions.
Global Electrochromic Glass Market Segmentation
By Application:
- Windows
- Mirror
- Display
By End-use Industry:
- Construction
- Automotive
- Aerospace
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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