DUBLIN--(BUSINESS WIRE)--The "Smart Glass Market by Technology (Thermochromic, Photochromic, Electrochromic, Suspended Particle Device, Polymer Disperse Liquid Crystal, and Others), and End user Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global smart glass market was valued at $4.6 billion in 2020, and is projected to reach $15.1 billion by 2030, growing at a CAGR of 12.6% from 2021 to 2030.
Smart glass, also known as a switchable glass, mainly refers to active technologies in which privacy glass films and coatings are activated by an electrical charge. It can be automatically tuned into transparent, translucent or opaque. It is widely employed as privacy glass in both residential & commercial construction facilities, automobiles, aerospace & aviation, cruise ships, and others.
Growing population and rise in urbanization has led the governments of both developed and developing economies to increase spending on building & construction sector where smart glass is widely employed in windows, partitions, skylights, and doors for creating adaptive light atmosphere. This is expected to aggressively penetrate and boost demand for smart glass in the growing building & construction industry. In addition, rise in transportation and logistics activities and increasing foreign direct investment (FDI) inflow has led the automotive sector to witness a significant increase in demand where smart glass is used in rear and side view mirrors, sunroofs, windshields, backlights and sidelights of both heavy and light weight vehicles. This factor may positively drive growth of the smart glass market.
However, the prices of smart glass have been increasing over the past few years, as the supplies are tightened due to production issues. Furthermore, the smart glass manufacturing process requires highly advanced and sophisticated equipment which is often expensive. This restrains the manufacturers with less investment potential to enter into smart glass market. This may hamper the growth of the smart glass market during the forecast period.
On the contrary, increasing R&D activities has led to potential applications of smart glass in various end use sectors. For instance, solar power-based heating and cooling systems use smart glass to increase the operating efficiency by 20-30%. Furthermore, it is widely employed as a privacy glass in indoor partitions of cruise ships, aircrafts and fighter jets. This is anticipated to increase in sales of smart glass in several end use sectors; thus creating lucrative opportunities for the market.
The global smart glass market analysis is done on the basis of technology, end user industry, and region. Depending on technology, the market is divided into thermochromic, photochromic, electrochromic, suspended particle device (SPD), polymer disperse liquid crystal (PDLC), and others. On the basis of end user industry, it is fragmented into transportation, construction, power generation, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
- Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
- It outlines the current trends and future estimations of the market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study
- The profiles of key players and their key strategic developments are enlisted in the report
Market Dynamics
Drivers
- Escalating Demand from Building & Construction Sector
- Increasing Demand from Automotive Sector
Restraint
- Increasing Prices
Opportunity
- Increasing Potential End Use Industry of Smart Glass in Renewable Energy Sector
Key Market Segments
By Technology
- Thermochromic
- Photochromic
- Electrochromic
- Suspended Particle Device (SPD)
- Polymer Disperse Liquid Crystal (PDLC)
- Others
By End user industry
- Transportation
- Construction
- Power Generation
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Argentina
- Rest of LAMEA
Key Players
- Asahi Glass Co. Ltd
- ChromoGenics
- Gauzy Ltd and Entities
- Gentex Corporation
- HalioInc.
- PleotintLlc
- Ravenbrick LLC
- Research Frontiers Inc.
- Saint Gobain
- Showa Denko Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cfrf0z
