Electrochromic glass is a type of smart glass or switchable glass, operating under the electrochromic mechanism. Market Research Future (MRFR) has published a research report regarding the global electrochromic glass market that predicts growth for this market between 2017 and 2023.
The key factors boosting the market growth for electrochromic glass include growing construction and automobile sector and the worldwide increase in investments in infrastructural developments. The global electrochromic glass market has been segmented on the basis of application, end use, material, and lastly, region. As per the application-based segmentation, this market has been segmented into displays, doors, mirrors, windows, and others.
Based on the end use, the market has been segmented into aerospace, automotive, building & construction, marine, and others. Building & construction is the segment that holds largest market share. The segment with the second largest market share in the automotive sector. The material-based segmentation segments the market into nanocrystal, transition metal oxide, and viologen.
The regional segmentation of the global electrochromic glass market segments the market into the continent-based regional market known as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). Among these regional markets, North America is the largest regional market, followed by Europe. During the forecast period, growth for both regional markets is expected. In North America, technological advancement, growing investment, higher adoption rate, and established automotive, as well as construction sectors, are contributing to the growth of this market. The most important regional markets in this region are the United States of America (USA), Canada, and Mexico.
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The European market is growing because of the developed automobile and marine industry. The use of electrochromic glass is also increasing in the aviation industry. The growing government encouragement in the development of eco-friendly buildings is leading to the growth in demand for the electrochromic glass, especially in countries such as Belgium, France, and Germany. Other pivotal country-specific markets in this region are Italy, Spain, and the United Kingdom (UK) followed by the rest of Europe.
According to the report, the Asia Pacific has been expected to emerge as the fastest growing regional market during the forecast period. The key market drivers in this region include the growing investment in infrastructural development and rapid growth of the automobile industry. The crucial country-specific markets in this region are Australia, China, India, Japan, and New Zealand, followed by the rest of the Asia Pacific region.
In Latin America, the strong economies that can be ideal markets are Argentina and Brazil, followed by the rest of Latin America. The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability. The major country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates (UAE).
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The key players in the global electrochromic glass market include Asahi Glass Company (Japan), ChromoGenics AB (Sweden), Gentex Corporation (USA), Guardian Industries Corporation (USA), Magna Glass & Window, Inc. (the USA), PPG Industries (USA), RavenBrick LLC (USA), SAGE Glass, Inc.(the USA), and View Inc. (USA).
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