Global Electrochromic Glass Marke is Witnessing a CAGR of 16.8% During 2018-2024

The global Electrochromic glass market is expected to increase from USD 2.1 billion in 2017, to USD 6.22 billion in 2024 at a significant CAGR of 16.8% during the forecast period from 2018 to 2024. Factors driving the market growth are increasing demand for energy efficient solutions, control the amount of heat based on ambient temperature, emerging green building initiatives, rapid investments in setting up industrial-scale production capacities, escalating technology scalability potential, and swift emission of carbon. Moreover, supportive government policies and growing concerns of the municipalities and government agencies toward environmental issues also augment the growth of the Electrochemical market, globally. A major trend that will hop in the Electrochromic market is an increment in use of photovoltaic-integrated Electrochromic devices in applications of smart glass. However, lack of technical experts and awareness among people may restrain the growth of the global Electrochromic glass market.

Electrochromic glass or electronically switchable glass is a kind of smart glass whose optical transmission properties are altered when voltage or heat is applied. When a voltage is applied, the Electrochromic glass responds to the applied voltage and transforms its state from transparent to translucent, blocking some or all wavelengths of light. While improving reliability, it saves cost, space, ruggedness, and sustains the life of electronics and active optics. Furthermore, Electrochromic technology can be employed in indoor applications such as, protecting objects under the glass of museum, display or showcases and picture frame from the harmful effects of the visible and UV wavelengths of artificial light. Electrochromic smart glasses can also be used in educational, commercial, corporate and residential buildings, hospitals, hotels, labs, and retail outlets to create partitions in their windows, walls and skylights.

Key companies profiled in this market are Saint-Gobain S.A., SAGE Electrochromics, View Inc., Asahi Glass Co. Ltd., E. I. du Pont de Nemours and Company, Gentex Corporation, Ravenbrick Llc, and Smartglass International Limited.