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Global Electrochromic Glass Market to Reach USD 3.79 Billion by 2026, Aided by the Rising Disposable Incomes in Developing Countries

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:

  • The market on the basis of application can be divided into windows, mirror, and display.
  • Based on end use, the industry can be divided into construction, automotive, aerospace, and others.
  • The materials used in the industry are transition metal oxide (TMO), nanocrystal, viologen, polymer, and reflective hydride.
  • The regional markets for electrochromic glass include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The recovery of the construction sector is expected to drive the demand for the electrochromic glass industry.
  • The rising disposable incomes in developing countries are expected to be a major factor contributing to the growth of the market during the forecast period.
  • Increasing eco-consciousness has led to increased adoption of electrochromic glass panels as a substitution to automated window panes/shutters.
  • Adoption of the product in high-tech automobiles in windows and sunroofs is expected to maintain healthy growth of the industry.

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

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.

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 a 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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