Global electrochromic glass sales reached a valuation of USD 1.7 billion in 2021. The overall market size is set to increase from USD 1.8 billion in 2022 to USD 3.9 billion by 2032. Over the next ten years, global electrochromic glass demand will thrive at 8.0% CAGR.
Windows segment is set to create lucrative revenues in the global market through 2032. This is due to rising usage of electrochromic glass in windows of automotive and buildings. The windows segment will rise at a robust CAGR of over 7.9% from 2022 to 2032.
Key Factors Shaping Electrochromic Glass Demand:
From ancient times, humans have been using curtains and blinds for various purposes. This includes controlling the amount of light that can enter a space and maintaining privacy.
However, with advancements in technology and adoption of automation, these products are gradually losing their relevance. On the other hand, new technologies such as electrochromic glass and devices are gaining popularity.
An electrical glass that allows users to control the amount of light that can enter a space is called electrochromic glass or smart glass. It is an advanced technology that is gaining enormous traction worldwide. electrochromic glass technology works on the principle of electrochromism.
Electrochromic glass can change its tint and reflective properties under a low-voltage current. They can be easily controlled by sunlight sensors or smart-home systems as they are electrically operated.
Growing demand for energy-efficient solutions across building & construction and automotive sectors will boost electrochromic glass sales. Subsequently, shift towards sustainable building is creating opportunities for electrochromic glass manufacturers.
According to the World Economic Forum, buildings are responsible for around 40% of global energy consumption. Further, about 33% of greenhouse gas emissions are generated by buildings.
In order to ensure that modern buildings are sustainable and energy-efficient, technologies such as electrochromic glass are being used. These new technologies are becoming the foundation of an energy-efficient future.
Adoption of electrochromic glass can significantly reduce the need for air-conditioning in buildings. It can help users to cut peak energy usage for cooling and lighting. This is due to their ability to control the amount of sunlight and heat entering a building.
Hence, rising adoption of electrochromic glass for energy-saving heating and cooling in buildings will trigger sales over the next ten years. Besides this, growing popularity of electrochromic glass for improving privacy in spaces such as offices will elevate demand.
Key Benefits of Using Electrochromic Glass in Windows of Buildings:
Growing applications of electrochromic glass in thriving automotive and aerospace industries will further propel demand during the next ten years. Incorporation of electrochromic glass in automobiles allows passengers to control light and reduce loads on cooling systems.
| Attributes | Key Insights |
|---|---|
| Electrochromic Glass Market in 2022 | USD 1.8 billion |
| Projected Market Size (2032) | USD 3.9 billion |
| Value-based CAGR (2022 to 2032) | 8.0% |
| USA Market CAGR (2022 to 2032) | 6.8% |
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Global sales of electrochromic glass surged at 8.9% CAGR from 2017 to 2021. Total market valuation reached around USD 1.7 billion at the end of 2021. Between 2022 and 2032, global electrochromic demand is set to increase at 8.0% CAGR. This will create an absolute USD opportunity of USD 2.1 billion through 2032.
Smart glass or electrochromic glass is a type of glass that changes its opacity in response to a small electric current. Because of its energy-saving properties and ability to improve privacy and comfort, this technology is becoming increasingly popular in the construction and automotive industries.
By limiting the amount of heat and light that enters the interior, electrochromic glass can aid in lowering the energy consumption of buildings. It is gaining wider popularity due to shift towards sustainable building.
Smart homes, which are becoming more popular because of automation and connected devices, will fuel demand for electrochromic glass. Smart glass can be combined with home automation systems to regulate the amount of light and privacy in space and produce a more comfortable atmosphere.
Without the use of curtains or blinds, private areas can be created with electrochromic glass. In public spaces such as hospitals and public buildings, where privacy is crucial, this feature is especially helpful. Demand for electrochromic glass is also projected to expand as security and privacy worries continue to spread.
The ability to automatically adjust its tint based on ambient lighting conditions is one of the main benefits of electrochromic glass in automobiles. For example, in bright sunlight, the glass darkens to reduce glare. Subsequently, in low light conditions, the glass becomes more transparent to improve visibility.
Electrochromic glass can help lessen the strain on an automobile's air conditioning system by blocking out heat from the sun in addition to reducing glare and enhancing visibility.
In 2020 the total number of cars sold worldwide stood at around 63.8 million which increased to about 66.1 million by 2022. A significant number of cars are using smart glass for providing an optimized cabin temperature by blocking out the heat.
Therefore, rising adoption of electrochromic glass in automobiles will play a key role in boosting the global market.
As per Future Market Insights, Europe will create lucrative opportunities for electrochromic glass manufacturers. In 2022, Europe electrochromic glass market size reached USD 700 million. By 2032, Europe market is set to cross a valuation of around USD 1.5 billion.
Demand for energy-efficient products has increased in recent years due to rise in the cost of energy. Demand for smart glass is likely to rise in Europe as a result of its capacity to lower a building's overall energy consumption while providing additional features such as on-demand privacy or glare control.
Electrochromic glass is a common building material for many different architectural applications because of its wide range of uses. It provides a suitable solution for maintaining the interior temperature of buildings or vehicles while saving energy in the extreme weather conditions common in many areas of Europe.
Electrochromic glass is also widely used in the automobile industry for providing optimum cabin temperature and reducing glare. In 2021, there were around 11.7 million cars sold in Europe. It is projected that Europe will have around 15.5 million cars by 2027.
With the rise in the adoption of electrochromic glass in automobiles, the market for electrochromic glass is set to expand during the assessment period.
Principal Consultant
| Country | United States |
|---|---|
| Projected CAGR (2022 to 2032) | 6.8% |
| Historical CAGR (2017 to 2021) | 7.4% |
| Market Value (2032) | USD 824.4 million |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2022 to 2032) | 7.2% |
| Historical CAGR (2017 to 2021) | 7.7% |
| Market Value (2032) | USD 282.8 million |
| Country | China |
|---|---|
| Projected CAGR (2022 to 2032) | 9.0% |
| Historical CAGR (2017 to 2021) | 10.4% |
| Market Value (2032) | USD 337.9 million |
| Country | Japan |
|---|---|
| Projected CAGR (2022 to 2032) | 7.4% |
| Historical CAGR (2017 to 2021) | 8.1% |
| Market Value (2032) | USd 285.5 million |
| Country | South Korea |
|---|---|
| Projected CAGR (2022 to 2032) | 8.4% |
| Historical CAGR (2017 to 2021) | 9.7% |
| Market Value (2032) | USD 159.3 million |
Growing Popularity of Energy-efficient Buildings Propelling Electrochromic Glass Demand in the USA
The USA electrochromic glass market is forecast to top a valuation of USD 824.4 million by 2032. It is likely to generate an absolute USD growth of USD 399.3 million between 2022 and 2032.
Electrochromic glass sales in the United States grew at 7.4% CAGR from 2017 to 2021. For the next ten years, electrochromic glass demand in the country will rise at 6.8% CAGR.
Rapid transition towards energy-efficient buildings across the United States is a key factor driving demand for electrochromic glass.
Rising energy costs and increasing greenhouse emission levels are prompting Americans to shift their preference towards green buildings. Similarly, government is taking various initiatives to encourage the adoption of energy-efficient systems. Driven by this, electrochromic glass demand will rise at a robust pace in the USA.
Rising usage of electrochromic glass in thriving automotive industry is also boosting the USA market. The total number of cars sold in the United States reached 3.5 million in 2021. Further, by 2033 it is estimated that around 15 million cars will be sold in the USA.
Electrochromic glass is widely used in the automobile industry to reduce glare and improve visibility. It also helps in maintaining a comfortable temperature within the cabin which therefore will put less strain on the air conditioning system of the car.
With rising adoption of electrochromic glass in the automobile industry, the USA market will register robust growth.
Booming Automotive Industry to Bolster Electrochromic Glass Sales in China
The electrochromic glass industry in China registered a growth rate of 10.4% CAGR from 2017 to 2021. Over the next ten years, electrochromic glass demand in China will rise at 9.0% CAGR. By the end of 2032, China market will reach a valuation of USD 337.9 million.
China is the leading producer of cars in the world. As per the World Population Review, China manufactured 21.4 million cars in 2021. This in turn is elevating electrochromic glass demand in the country.
Electrochromic glass is used in the automobile industry for optimizing cabin temperature and glare reduction. Therefore, increasing demand for automobiles in the country will expand the electrochromic glass market during the assessment period.
Windows Application to Generate Significant Revenues
Based on application, the market is segmented into windows, display, and mirror. Among these, windows will remain the most lucrative application for electrochromic glass.
The windows segment grew at a CAGR of 8.7% CAGR from 2017 to 2021. For the next ten years, it is likely to expand at a CAGR of 7.9%.
Electrochromic glass, also known as smart glass, can modify its transparency and light transmission features when an electric current is applied. It is primarily used in windows for buildings.
Electrochromic glass can reduce the need for air conditioning and artificial lighting. This is due to its tendency to controll the amount of heat and light that enters a building because of its capacity to change tint. As a result, less energy is consumed overall.
Therefore, the market for this segment is anticipated to grow during the assessment period due to the increase in demand for energy-efficient buildings and workspaces.
Rising awareness about the potential benefits of energy-efficient glazing solutions such as electrochromic windows will boost the market. Electrochromic windows are becoming ideal replacements for thermochromic windows. This is because these windows can change their properties quickly
Electrochromic windows also have a more flexible transition that is based on user’s demand rather than uncontrollable temperature. They have several advantages over conventional shading and solar control systems.
Adoption of Electrochromic Glass Remains High in Construction Industry
By end-use industry, adoption of electrochromic glass will remain high in construction industry. The construction segment expanded at 8.5% from 2017 to 202. Over the next ten years, the target segment will rise at 7.8% CAGR.
An electrical current can cause the electrochromic glass, also referred to as smart glass, to change its color. It is frequently employed by the construction industry to regulate the amount of light and heat that enters the structure, thereby significantly lowering energy costs.
Additionally, a wide range of applications, including windows, skylights, and curtain walls, can make use of electrochromic glass. They can be used to enhance occupant comfort by lowering glare and heat gain thanks to their ability to alter tint.
With rising demand for energy-efficient spaces, adoption of electrochromic glass in construction industry will increase rapidly.
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Key electrochromic glass manufacturers profiled in the report include AGG Inc., ChromoGenics AB, Compagnie de Saint-Gobain S.A., Showa Denko, Halio, Inc., Suntuitive Glass, Polytronix, Inc., Diamond Glass, Smartglass International, and View, Inc.
Companies are investing heavily in research and development to introduce new products. They are adopting strategies such as mergers, partnerships, collaborations, and acquisitions to strengthen their presence in local and regional markets.
Recent Developments:
In January 2022, View Inc. announced a partnership with Nabr, a home design company to build homes with sustainable materials. View’s Smart Windows, which can automatically adjust and provide constant access to natural light and outdoor views while minimizing heat and glare, will be a feature of every Nabr Home.
In October 2021, Saint - Gobain announced that it had completed the acquisition of IMPAC. Through this acquisition, the company aims to expand its operations and presence in Latin America Region.
In July 2021, Viracon launched Viracon Plus which is powered by Halio Inc’s electrochromic technology. Viracon Plus can optimize the comfort of the occupants by adjusting the tint to minimize energy consumption and maximize the amount of natural light.
In May 2022, AGC announced the launch of light control panoramic roof with low E coating.
| Attribute | Details |
|---|---|
| Current Market Size (2022) | USD 1.8 billion |
| Projected Market Size (2032) | USD 3.9 billion |
| Anticipated Growth Rate (2022 to 2032) | 8.0% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Segments Covered | Application, End-use Industry, and Region |
| Key Companies Profiled | AGG Inc.; ChromoGenics AB; Compagnie de Saint-Gobain S.A.; Showa Denko; Halio, Inc.; Suntuitive Glass; Polytronix, Inc.; Diamond Glass; Smartglass International; View, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global electrochromic glass market is valued at USD 1.7 billion in 2023.
Some of the key players in the electrochromic glass market include Saint-Gobain, AGC Inc., NSG Group, Research frontier, Gentex Corporation, and View Inc.
Smart windows are likely to remain preferred through 2033.
Players opt for mergers and acquisitions.
India, Japan, and China dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 5.1. Windows 5.2. Mirror 5.3. Display 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use Industry 6.1. Construction 6.2. Automotive 6.3. Aerospace 6.4. Others - Consumer Electronics, Solar Cell, Marine, Railway 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East & Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. AGG Inc. 15.2. ChromoGenics AB 15.3. Compagnie de Saint-Gobain S.A. 15.4. Showa Denko 15.5. Halio, Inc. 15.6. Suntuitive Glass 15.7. Polytronix, Inc. 15.8. Diamond Glass 15.9. Smartglass International 15.10. View, Inc. 16. Assumptions & Acronyms Used 17. Research Methodology
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Electrochromic Glass Market
