Electrochromic Glass Market

The global electrochromic glass market reached a value of $1.4 billion in 2019 and is expected to reach $2.6 billion by 2030, growing at a CAGR of 9% from 2023 to 2030.

Electrochromic glass, a type of smart glass, changes its transparency when an electric voltage is applied. It can switch between opaque and translucent states based on the voltage. This technology finds applications in non-residential buildings such as offices, hospitals, and hotels worldwide. Electrochromic glass is highly efficient in conserving energy by reducing heat transfer, keeping rooms cooler during summer and reducing air conditioning costs. It achieves this by reflecting back light and heat.

The market is driven by the increased adoption of electrochromic glass due to its features, such as privacy control and improved security. It has also found usage in the automotive sector for car windows and windshields. However, the high cost of electrochromic glass and lack of innovation are major constraints for market growth. On the other hand, the development of smart glass technology presents opportunities for market expansion. The COVID-19 pandemic affected the demand side of the market as construction and automotive manufacturers faced production disruptions, resulting in supply shortages and increased prices.

The market is segmented based on application, end-user industry, and region. In terms of application, the windows segment contributed the highest share in 2019. Electrochromic windows, also known as smart windows, are increasingly being adopted in North America and Europe, driven by high technology adoption rates in these regions. The construction of new buildings and the renovation of existing structures offer growth opportunities for the global electrochromic glass market. The display segment is expected to grow at the highest CAGR during the forecast period, fueled by the increasing demand for smart technologies like electrochromic smart glass displays in smart homes and offices. The urbanization trends in Asia-Pacific and LAMEA regions contribute to market growth due to ongoing development activities in these areas.

The market is divided based on end-user industry into construction, automotive, aerospace, and others. In 2019, the construction segment contributed the highest share. Countries in North America, including Canada, have already incorporated electrochromic glass in their office buildings. Companies like Corgan have used electrochromic glazing in office projects and airport terminals, driving market growth in the construction sector.

The automotive segment is expected to grow at the highest CAGR in the forecast period. Electrochromic glass is used in sunroofs, side windows, sun-visors, and rear windows of automobiles. The use of electrochromic glass in these parts reduces unwanted light, glare, and heat buildup inside the vehicle, making them preferable over regular glass. This improves fuel efficiency and reduces carbon emissions in vehicles.

The market is segmented regionally into North America, Europe, Asia-Pacific, and LAMEA. Europe was the highest revenue contributor in 2019, primarily due to leading automotive manufacturers adopting electrochromic glass. Electrochromic glass offers energy savings and enhanced comfort, making it increasingly popular for panoramic roofing in cars. It is already being used in Mercedes-Benz SLK and SL roadsters. AGP Group, a prominent glazing manufacturer, also opened an automotive glazing plant in Belgium in 2019 to produce panoramic roofs with electrochromic glass. These trends indicate a growing market for electrochromic glass in the automotive sector.

Smartphone manufacturers are also exploring the use of electrochromic glass to enhance their market share. For example, Chinese phone maker OnePlus showcased the Concept One phone at CES 2023, which uses electrochromic glass to hide its rear triple cameras when not in use. While this phone is not expected to be mass-produced, it highlights a new potential application for electrochromic glass in the smartphone market, which is dominated by countries like China, India, and Japan. China, in particular, is one of the world's largest smartphone producers.

Major electrochromic glass manufacturers analyzed in the report include AGC Inc., ChromoGenics AB, Compagnie de Saint-Gobain S.A., Hitachi Chemical Co. Ltd., Kinestral Technologies Inc., Pleotint LLC, Polytronix Inc., Research Frontiers Inc., Smartglass International Ltd., and View Inc. These companies are adopting various strategies such as product launches, partnerships, mergers, and acquisitions to remain competitive. For instance, AGC, Kinestral Technologies Inc., and G-Tech Optoelectronics Corp. formed a joint venture in December 2017 to sell, distribute, and service Halio smart glasses globally. The joint venture helped AGC increase its market revenue.

Key Benefits for Stakeholders

• Porter's five forces analysis provides insights into the potential of buyers and suppliers, as well as the competitive landscape, enabling strategic decision-making.
• The report outlines current electrochromic glass market trends and future scenarios from 2019 to 2030, identifying opportunities and potential investment prospects.
• It provides a revenue contribution analysis of major countries in the region at both the regional and country levels.
• The study elucidates the key drivers, restraints, opportunities, and their detailed impact analysis in the electrochromic glass market.

Electrochromic Glass Market Report Segmentation

By Application

• Windows
• Mirror
• Others

By End Use Industry

• Construction
• Automotive
• Aerospace
• Others

• Consumer Electronics
• Solar cell
• Marine
• Railway
• Other

By Region

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, Korea, ASEAN, Rest of Asia-Pacific)
• LAMEA (Brazil, Argentina, South Africa, Rest of LAMEA)