New Opportunities in Electrochromic Glass Market are Enforcing Players to Invest More in this Industry
Electrochromic glass, also known as electronically switchable glass, has various applications such as partitions, windows, skylights, mirrors, and displays. It enables user to control the light and heat passing through such glass, aiding in regulating temperature through remote operated switch. It works on the principle of electrochromism, which requires utilization of materials that can change color or opacity on applying the potential difference across the surface.
Moreover, these materials do not require electricity to maintain particular shade after the change has been achieved. Owing to these relative advantages over conventional glass, the global electrochromic glass market is expected to witness growth over the forecast period.
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.
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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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