ELECTROCHROMIC GLASS MARKET ANALYSIS

Electrochromic Glass Market Size and Trends

The Electrochromic Glass Market is estimated to be valued at USD 2.41 Billion in 2024 and is expected to reach USD 5.12 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.

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The electrochromic glass market is expected to witness significant growth over the forecast period. The growing construction industry especially in commercial construction is expected to drive the demand for electrochromic glass.

Electrochromic glass offers features like control of light, heat, and glare which makes them ideal for use in buildings. Their ability to improve indoor comfort and reduce energy costs makes them an attractive proposition for commercial establishments and factories. Additionally, rising disposable income and growing focus on green buildings in developing nations will further provide opportunities for market growth in the coming years.

The growing demand for smart windows in commercial buildings

Electrochromic glass allows the automatic adjustment of the amount of light, heat, and glare passing through glass based on current exterior light conditions and interior programmable settings. This allows for significant energy savings potential by reducing heating/cooling loads and improving occupant comfort through manual or automated control of natural daylight and solar heat gain. Many commercial building owners are recognizing these benefits and are incorporating more smart glazing solutions in their construction and renovation projects. Particularly for large office towers, hospitals, and educational institutes, smart windows offer multi-fold returns through reduced energy costs and optimizing worker/student productivity by reducing eyestrain and improving focus in varying light conditions throughout the day. With growing environmental consciousness and stringent energy-efficiency norms, major real estate developers and commercial building owners are more willing to invest in novel building technologies like electrochromic glass that provide quantifiable returns over the lifecycle.

For instance, in February 2022, ChromoGenics entered a cooperation agreement with Finnglass Oy for the manufacturing, marketing, and distribution of ConverLight Dynamic, a dynamic glass known for its integration of electrical functions and modern manufacturing processes. Finnglass Oy is a leading supplier of advanced glass solutions.

Market Concentration and Competitive Landscape

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In addition to commercial building applications, automakers are actively exploring ways to bring more smart and adaptive technologies to vehicles. Consumers are increasingly demanding advanced safety, connectivity, and comfort features in their cars. Electrochromic glass offers an elegant solution to control heat and light inside vehicles without compromising exterior design aesthetics. With a touch of a button, drivers can opt for the perfect blend of natural light and shade on-the-go. Especially for larger trucks and SUVs where the entire roof area can be covered by a smart sunroof, there is opportunity to significantly enhance occupant experience. Auto manufacturers have taken note of this emerging trend and some luxury brands have already starting including these innovation sunroofs as differentiators. Meanwhile, as electrochromic glass technology progresses on aspects like switch speeds and charge cycles to achieve tint transitions in real-time, it opens up the opportunity for mass integration across many vehicle categories. This promises to be a major revenue generator for electrochromic glass companies looking to expand beyond buildings into transportation.

For instance, in May 2022, AGC, a leading manufacturer of glass chemicals and high-tech materials, developed a light-control panoramic roof with Low-E coating. The panoramic roof can provide both an open cabin experience and a pleasant cabin temperature due to the use of Low-E glass*2 with strong solar control and heat-insulating capabilities.

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Some key challenges currently facing the electrochromic glass market include high costs of production and material. The technology used to produce these smart windows is still quite expensive to implement on a large scale. Additionally, consumers may be hesitant to adopt an unfamiliar technology that comes at a premium. Establishing industry standards and developing economies of scale can help reduce costs over time. However, research and development investments are still needed to advance production processes and make electrochromic glass more affordable.

Market Opportunitie: Rising Demand Driven by Sustainability and Energy Efficiency

The electrochromic glass market also presents several significant opportunities for growth. As awareness of energy efficiency and sustainability increases globally, demand is expected to rise across commercial and residential sectors. Supportive building codes and incentive programs can encourage more widespread adoption. Furthermore, continued technological progress will likely expand viable applications and use cases. Emerging areas such as auto adaptable smart windows are opening up new potential revenue streams. A growing emphasis on green construction could accelerate

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Windows remain the largest application segment in the electrochromic glass market owing to the increasing demand for energy efficient solutions from the building and construction industry. Electrochromic glass used in windows is able to regulate solar heat and glare entering buildings automatically without requiring an external source of power. They offer a sustainable means to control interior temperatures and illuminance levels naturally.

Electrochromic windows optimize solar heat gain and minimize cooling requirements, thereby reducing energy costs significantly compared to conventional windows. They also improve visual and thermal comfort for occupants all year round. As climate change concerns rise, more builders and building owners are recognizing the long term economic and environmental benefits of energy efficient electrochromic windows. Their self-regulating capability to block infrared and ultraviolet solar radiation precisely as per changing exterior conditions through the day makes them a viable alternative to traditional glazing.

The ability of electrochromic windows to switch tint levels through electricity also provides an edge over manually controlled window coverings. They offer ease of remote or automated operation and maintain consistent interior lighting without requiring manual handling of blinds or curtains. This hands-free convenience enhances occupant productivity and optimizes the usage of day lighting indoors.

Insights, By End-Use - Residential contributes the highest share of the market in terms of By End-User

Within the end-use segmentation, the residential sector accounts for the largest consumption of electrochromic glass products. Rapid growth of the housing sector particularly in developing economies and shifting consumer preference towards eco-friendly homes is driving the residential demand.

Home owners are increasingly incorporating energy efficient electrochromic windows and skylights during new construction as well as retrofitting to reduce utility expenses over the lifetime of the property. The self-tinting functionality coupled with slim profiles that do not block exterior views enhances interior aesthetics. The automated tint control also eliminates the need for home owners to operate blinds or curtains manually on a regular basis.

Rising environmental awareness among citizens is compelling the residential segment to adopt greener building materials like electrochromic glass that curb carbon footprint and smog levels in urban neighbourhoods. Supported by building standards and incentives promoting energy efficient designs, electrochromic products are gaining popularity for residential amenity areas like balconies, patio doors and swimming pool enclosures.

Regional Insights

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Europe is estimated to hold a dominant position in the global electrochromic glass market with 37.53% share in 2024 and is expected to maintain its dominance during the forecast period 2024-2031. The European government is focusing on sustainable green buildings by increasing the use of electrochromic glass for windows and doors. The use of electrochromic glass saves the cost incurred for heating, lighting, and air conditioning of buildings. Sustainable green buildings are increasingly promoted in European countries such as France, Germany, Belgium, and others. Hence, the adoption of sustainable green buildings is driving the electrochromic glass market growth in the European region.

Asia Pacific is expected to emerge as the fastest-growing region for the electrochromic glass market and exhibit a CAGR of 14.73% during the forecast period, as the automotive market in the countries such as India, China, and Japan is growing rapidly. Electrochromic glass is used for side view and rear mirror, sunroofs, backlights, windshield, window tint and sidelights in the automotive industry. Hence the electrochromic glass market is expected to gain traction in the forecast period in the Asia Pacific region.

Market Report Scope

Electrochromic Glass Industry News

• In January 2022, View Inc. announced a collaboration with Nabr, a home design company focused on sustainable materials. View Inc. is recognized for its Smart Windows, capable of automatically adjusting to provide consistent access to natural light and outdoor views while minimizing heat and glare. Nabr Homes will integrate View's technology into its designs.
• In October 2021, Saint-Gobain successfully acquired IMPAC, signifying a strategic move to enhance its presence and operations in the Latin America Region. Saint-Gobain is a global leader in the design, production, and distribution of innovative and sustainable building materials.
• In July 2021, Viracon introduced Viracon Plus, featuring Halio Inc’s electrochromic technology. Viracon, a leading architectural glass fabricator, aims to optimize occupant comfort by enabling the adjustment of tint to minimize energy consumption and maximize natural light.
• In May 2022, AGC announced the launch of a light control panoramic roof with low E coating. AGC is a multinational glass manufacturing company known for its innovative solutions in various industries, including automotive and construction.

*Definition: The electrochromic glass market involves the production and sales of electronically tintable glass. This special type of glass can change its tint or darkness of colour when an electric current is applied. It is used in auto and aircraft windows, skylights, windows of buildings to control visibility and glare as well as maintain comfortable temperatures inside without needing blinds or curtains. The rising demand for smart glass solutions in the construction and automotive industries is fuelling the growth of the global electrochromic glass market.

Market Segmentation

• Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Windows
  • Mirrors
  • Displays
  • Others
•  End-use Insights (Revenue, USD Bn, 2019 - 2031)
  • Commercial
  • Residential
  • Transportation
  • Others 
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • AGC Inc.
  • ChromoGenics
  • Corning Incorporated
  • Gauzy Ltd.
  • Gentex Corporation
  • Guardian Industries Holdings, LLC
  • Halio Inc.
  • Merck KGaA (Merck Group)
  • Nippon Sheet Glass Co. Ltd.
  • Polytronix Inc.
  • PPG Industries Inc
  • RavenWindow
  • RavenWindow
  • Research Frontiers Inc.
  • Saint Goblin S.A.
  • Smart Glass Technologies LLC
  • Smartglass International
  • VELUX Group
  • View Inc.