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.
Get
more insights on this topic: https://www.newsstatix.com/electrochromic-glass-market-share-and-opportunity-analysis/
Comments
Post a Comment