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Global Electrochromic Glass Market to Grow at a CAGR of 8.4% During 2021-2026, Aided by the Growing Adoption of the Product in the Automotive Industry

According to a new report by EMR titled, ‘Global Electrochromic Glass Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 1.47 billion in 2020. The global electrochromic glass industry is further expected to grow at a CAGR of 8.4% between 2021 and 2026 to reach USD 2.39 billion by 2026.

The electrochromic glass industry is driven by the growing adoption of the product in the automotive industry. The growing popularity of electrochromic glass among luxury car manufacturers is likely to bolster the market growth, owing to the fact that the electrochromic glass enhances the driving experience by providing comfort to the passenger. Over the forecast period, the growing technological advancements are likely to further augment the market.

The growing use of electrochromic technology by the leading smartphone manufacturers is expected to further aid the industry. In September 2020, Vivo announced that the company is carrying out R&D activities towards developing a smartphone that has a rear panel capable of changing colours. According to the company, the smartphone will be installed with electrochromic glass that would change colour at the press of a key. Moreover, the easy availability of smartphones on e-commerce platforms such as Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is likely to bolster their sales, which is likely to augment the growth of the global electrochromic glass industry.

In terms of region, North America is likely to account for a significant share in the market, owing to the technological advancements in the automotive and construction industries. This can be attributed to the rising investment towards renovation, infrastructure development, and growing population, among others. The growing demand for electrochromic glass from the residential sector, owing to the growing awareness about the advantages of the product, is likely to aid the market growth in the region.

Market Breakup by Application, End Use, and Region:

  • The major applications of the product include windows, mirror, and display.
  • Based on end use, the electrochromic glass industry can be divided into construction, automotive, and aerospace, among others. 
  • Region-wise, the global market for electrochromic glass can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for electrochromic glass is being driven by the growing applications of the product in various end use sectors, including automotive and aerospace. 
  • The technological advancements in the automotive and construction sectors are likely to propel the demand for the product in the forecast period.  
  • The growing construction activities in emerging economies are likely to bolster the demand for electrochromic glass.
  • The growing R&D activities by the leading smartphone manufacturers to develop products using electrochromic technology is likely to enhance the demand for electrochromic glass in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for electrochromic glass for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the applications, end uses, and regions of electrochromic glass.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global electrochromic glass market are AGC Inc., Chromogenics AB, Kinestral Technologies, Inc., Polytronix, Inc., and Smartglass International Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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