Current Trends and Future Growth of Electrochromic Glass Market
Energy can be conserved by using windows, sun roofs, and displays made from this glass and this is expected to be among the prominent factors propelling growth of electrochromic glass market. In high opacity state, these materials are characterized to reflect around 98% of the incident light, reducing the requirement of high cost air conditioning systems. According to U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), windows made from this glass material can save around 8% of the total energy consumption of the buildings, as these utilize low amounts of electricity to change from transparent to dark. Furthermore, benefits such as offering privacy at the flick of switch (increasing opacity of the glass), protection of furniture and pictures from fading due to excessive light are anticipated to propel growth of the global electrochromic glass market over the forecast period.
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In August 2011, Boeing 787-9 Dreamliner was the first airplane to use electrochromic windows for commuters’ convenience. Moreover, owing to its energy saving properties, automotive brands including Audi, Daimler, and BMW have deployed smart glass in some of their top-end models for rear view mirrors, sun-roofs, and other applications. Increasing demand for large surface area sun-roofs to enhance the interior space of vehicles, and drawbacks of mechanical blinds for large surface areas, are expected to be factors for growth of the market. Commercial and residential segments are expected gain significant traction over the forecast period. This is owing to increasing adoption of electrochromic glass for saving energy and for controlling in-house ambient temperature and light conditions.
Consumers in the developed nations such as the U.S., Canada, and European countries including, Germany, the U.K., France, and Italy are increasingly focused on energy conservation that are lost owing to heat and bad natural lighting transmitted through the conventional windows. Smart glass has gained significant popularity and adoption owing to presence of some of the key automotive players adopting these materials in Europe for better consumer comfortability.
Emerging economies are anticipated to witness high growth owing to huge untapped potential in Asia Pacific countries owing to huge population base and growing investments in the architectural development in the region. However, high initial cost for manufacturing this glass and volume centered production costs are expected to be among the major factors hampering the electrochromic glass market growth.
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Key players in the market are focusing on continuous innovation and also researching for new application areas for these technologies. For instance, in June 2017, View, Inc. raised around US$ 200 million from funding for improving windows to suit outdoor environment and enhance users’ comfort. Some of the key players in the electrochromic glass market include Chromogenics AB, Asahi Glass Co., Ltd., Guardian Industries Corporation, Econtrol-Glas GmbH & Co. KG, Magna Mirrors Holding GmbH, Gentex Corporation , Ravenbrick Llc, PPG Industries, View, Inc., Sage Electrochromics, Inc., and Diamond Glass.
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