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According to a new report by EMR titled, ‘Global Electrochromic Glass Market Report and Forecast 2021-2026’, the global market for electrochromic glass attained a value of about USD 2.27 billion in 2020. The industry is further expected to grow at a CAGR of 10.8% in the forecast period of 2021-2026 to reach USD 3.79 billion by 2026.
Electrochromic glass products allow users to change the optical properties of a glass surface, including transparency, reflectivity, and colour, by simply flipping a switch or pressing a remote button. However, as a luxury good, its demand in the market is heavily dependent on factors such as disposable incomes and economic outlook. Hence, the rising disposable incomes in developing countries, especially in the Asia Pacific region is expected to be a major factor in maintaining steady growth during the forecast period of 2021-2026.
In December 2017, two major players in the industry, AGC and Kinestrial Technologies, announced three joint venture companies to accelerate the penetration of smart-tinting glass products in the market. The venture is expected to speed up the processes of selling, distributing, and servicing smart glass products and is expected to continue to drive the growth of the industry. In late 2020, ChromoGenics launched ConverLight AW, a self-sufficient climate-smart glass solution that is expected to further enhance the popularity of these products among the eco-friendly customers. The e-commerce giants such as Amazon (NASDAQ: AMZN) and Alibaba Group (HKG: 9988) have increased accessibility of such markets and further contribute to the market growth.
Market Analysis by Application, End Use, Material, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global electrochromic glass market are AGC Inc., ChromoGenics, Kinestral Technologies, Inc., Polytronix, Inc., Smartglass International Limited, and 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.
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