Electrochromic glass is an electronically tintable glass capable of changing its light transmission properties when voltage is applied. It has properties including thermoregulation, glare control and energy efficiency that make them suitable for use in residential and commercial buildings, automotive and aircraft applications. Growing construction of smart homes and demand for luxury automotive is driving interest in electrochromic glass solutions that provide occupants with on-demand window tinting and privacy control. The global Electrochromic Glass Market is estimated to be valued at US$ 2300.68 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased adoption in smart homes and automotive industry has accelerated the growth of Electrochromic Glass market. Integration of Electrochromic glass in smart home windows allows occupant to control tint, glare, temperature and privacy with the touch of button from anywhere inside home. This has increased interest of home builders in incorporating electrochromic solutions to provide luxurious living experience to home buyers. Similarly, several luxury automakers have started offering electrochromic sunroofs and rear windows to enhance passenger comfort in premium vehicles. Growing consumer demand for smart and convenience features in residential and automotive sector is a major trend fueling the electrochromic glass demand.
Segment Analysis
Content: The global electrochromic glass market size is segmented by material, device, and application. Within the material segment, the inorganic electrochromic devices segment dominated the market in 2022 and is expected to maintain its dominance going forward. Inorganic devices offer good thermal properties, faster switching speeds, and better coloration efficiency as compared to organic and macromolecular electrochromic devices.
Key Takeaways
Content: The global electrochromic glass market is expected to witness high growth over the forecast period of 2023 to 2030. Driven by rising demand from construction and automotive industries, the market size is projected to grow from US$ 2300.68 Mn in 2023 to over US$ 4500 Mn by 2030, registering a CAGR of 5.3% during the period.
Regional analysis: The Asia Pacific region currently holds the largest share of the global electrochromic glass market and is expected to remain the fastest growing regional market during the forecast years. Countries like China, India, and Japan are witnessing increasing investments in construction activities which is driving the demand for electrochromic glass in the region.
Key players: Key players operating in the electrochromic glass market include Shenzhen Hongjia Glass Product Co., Ltd, DuPont, Asahi Glass Co Ltd, Saint Gobain, and Guangdong Kangde Xin Window Film Co Ltd. Saint Gobain holds a significant market share due to its diverse product portfolio and global presence. DuPont is investing in expanding its manufacturing facilities to cater to the growing demand from China and India.
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