Industry/ Innovation/ Related News:
21st February 2017– Gauzy, a manufacturer of smart glass has come up with a new innovation in the smart glass industry that provides with new ways to communicate location and time based messages on the automobile windows. With the collaboration with Daimler, Gauzy created this new product with the use of dark fit liquid crystal film. This is expected to be a significant innovation which is expected to further drive the market growth.
27th June 2017- View incorporation has agreed terms for US$ 200 million funding for the development of electrochromic smart glass. The new development of electrochromic glass has a facility of operating with a smart phone. The company is focusing majorly to target the lucrative North American market.
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Electrochromic glass Market –Overview
Electrochromic glass also known as smart glass is a kind of switchable glass that operates under the electrochromic mechanism. These glasses has unique properties that allows the user to control the amount of heat and light passing through it. These glasses also possesses the ability to change color and level of opacity through the use of wall switches, timers, light sensors, and remote controls among others. The growing replacement of conventional glass with electrochromic glass is anticipated to be a major boost to the growth of the global market. Moreover, the growing demand from the commercial and residential building is also positively effecting the market demand. Furthermore, the growing use of electrochromic glass by the major aircraft manufacturers such as Airbus SA, The Boeing Company will also substantially contribute to the market growth. The global electrochromic glass market is expected to grow at an expanding CAGR during the forecast period. The electrochromic glass market is segmented into material, application, and end-use industry. Among the various end use industry the building & construction and the automobile industry is anticipated to lead the segment during the forecast period.
The growing demand from residential buildings, hospitals and offices is anticipated to add to the growth of the segment. According to the analysis of MRFR, the major market forces and trends driving growth of the global electrochromic glass market includes growing investment in the construction sector and the burgeoning demand from the automobile industry. Moreover, the increasing purchase power parity in the developing countries across the globe has further surged the demand for electrochromic glass in the residential sector
Electrochromic glass market- Competitive Landscape:
The global Electrochromic glass market is a highly lucrative market driven by flourishing growth in building & construction, along with the propelling automobile industry. SAGE Glass, Inc (U.S.), ChromoGenics AB (Sweden), RavenBrick LLC (U.S.), Asahi Glass Company (Japan), Gentex Corporation (U.S.), PPG Industries (U.S.) among others are some of the major players operating in this market. Most of these market participants are adopting the product launch, merger and acquisition tactics to expand their production capacities and market position. Taking account of these trends the global electrochromic glass market is projected to witness considerable competition over the forecast period of 2017-2023.
North America is anticipated to be the largest market closely followed by Europe during the forecast years. Asia pacific is expected to be the fastest growing region during the forecast years. The growing globalization in the developing countries of the region has propelled the building & construction activities which is a dominant factor contributing the demand for electrochromic glass market in the region. Moreover, the developed automobile and construction industry in Europe and North America is also adding to the growth of the market.
Regional Analysis:
The global electrochromic glass market is spanned across five key regions: Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa. Among these, Asia Pacific is the fastest growing market and is anticipated to witness a considerable CAGR during the forecast years. The developing end-user industries in the region such as construction and automotive is expected to fuel the market growth. The major countries attributing to the growth of the electrochromic glass in this region are India, China, and Japan. North America is the dominant region in the electrochromic glass market. The developed end-user industries coupled with the growing adoption of electrochromic glass are the major factor contributing to the growth of the market. The major countries attributing to this growth are the Canada and U.S. The presence of the major manufacturers in the region coupled with the growing innovations is expected fuel market growth. For instance, View Incorporation has raised USD 200 million for the development of electrochromic smart glass in 2017.
European electrochromic glass market is mainly driven by the developed automobile and electronic industry. Moreover, the increasing use of electrochromic glass in the aviation industry coupled with the growing demand from the automobile sector is anticipated to further fuel the growth of the market during the forecast years. moreover, the growing encouragement by the government in the energy sustainable constructions has increased the adoption of smart glass in countries such as Germany, France, Belgium, and others.
Full report on Electrochromic Glass Market report spread across 137 pages, profiling 12 companies and supported with tables and figures available @ https://www.marketresearchfuture.com/reports/electrochromic-glass-market-5530
Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Intended Audience
- Electrochromic glass market manufacturers
- Traders and Distributors of Electrochromic glass market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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