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.
The global smart glass market profiles leading players that include Asahi Glass Co. Ltd, ChromoGenics, Gauzy Ltd and Entities, Gentex Corporation, Halio Inc., PleotintLlc, RavenbrickLlc, Research Frontiers Inc., Saint Gobain and, Showa Denko Materials Co. Ltd..
The global smart glass market report provides in-depth competitive analysis as well as profiles of these major players.
Key players in the global smart glass market are:
1. Asahi Glass Co. Ltd
2. ChromoGenics
3. Gauzy Ltd and Entities
4. Gentex Corporation
5. HalioInc.
6. PleotintLlc
7. Ravenbrick LLC
8. Research Frontiers Inc.
9. Saint Gobain
10. Showa Denko Materials Co. Ltd.
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.
The global smart glass market profiles leading players that include Asahi Glass Co. Ltd, ChromoGenics, Gauzy Ltd and Entities, Gentex Corporation, Halio Inc., PleotintLlc, RavenbrickLlc, Research Frontiers Inc., Saint Gobain and, Showa Denko Materials Co. Ltd..
The global smart glass market report provides in-depth competitive analysis as well as profiles of these major players.
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
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 in the global smart glass market are:
1. Asahi Glass Co. Ltd
2. ChromoGenics
3. Gauzy Ltd and Entities
4. Gentex Corporation
5. HalioInc.
6. PleotintLlc
7. Ravenbrick LLC
8. Research Frontiers Inc.
9. Saint Gobain
10. Showa Denko Materials Co. Ltd.
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Smart Glass Market, by Technology
Chapter 5: Smart Glass Market, by End Use Industry
Chapter 6: Smart Glass Market, by Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, Smart Glass Market by Technology and End User Industry: Global Opportunity Analysis and Industry Forecast, 2021–2030, 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 is a switchable, electronically tintable glass that can alter the amount of light transmitted through transparent materials. It can be tuned into transparent, translucent or opaque either automatically or manually. It is used as a privacy screen in hotels, houses, automotive, aerospace, and other end use sectors.
Rapid development of building & construction activities based on modern theme architecture has surged the demand for smart glass used in in windows, partitions, skylights, and doors for creating adaptive light atmosphere. This is expected to fuel the growth of the smart glass market during the forecast period. Furthermore, increase in transportation and logistics activities has surged the sales of automotive sector where smart glass is used in rear and side view mirrors, sunroofs, windshields, backlights and sidelights of both heavy and light-weight vehicles. This is expected to drive the global smart glass market.
However, the manufacturing of smart glass requires expensive and sophisticated equipment. This restrains the manufacturers with less investment potential to enter into smart glass market which in turn may hamper the growth of the global smart glass market during the forecast period.
On the contrary, the rapid shift toward renewable energy sources for power generation purposes has surged the popularity of smart glass used in heating & cooling systems of renewable energy plants. This is expected to offer major opportunities to the global smart glass market.
The smart glass market is segmented on the technology, end user industry, and region.
By technology, the market is segregated into thermochromic, photochromic, electrochromic, suspended particle device (SPD), polymer disperse liquid crystal (PDLC), and others. The suspended particle device (SPD) segment dominated the global market, in terms of revenue in 2020, with 33% of the total share. This is attributed to that suspended particle device-based smart glass can be automatically or manually tuned to precisely control the amount of light, glare, and heat passing through it. Moreover, it allows a variable and reversible change in glass transmittance that benefits the privacy and security. This has made the customers become more linear toward the usage of suspended particles device (SPD) technology-based smart glasses in windows, skylights, facades and curtain walls.
By end use industry the global market is divided into transportation, construction, power generation, and others. The construction segment dominated the global market, in terms of revenue in 2020, with 51.2% of the total share. This is attributed to rise in urbanization and government expenditure on infrastructural development in both developed and developing economies which in turn has led the building & construction sector to witness a significant growth where smart glass is widely employed in windows, partitions, skylights, doors, and curtain walls to create a climate adaptive light atmosphere. This factor augments the growth of the construction segment in the global smart glass market.
Region-wise, the smart glass market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific smart glass market size is projected to grow at the highest CAGR during the forecast period, owing to rise in building & construction, aerospace, automotive &transportation, and othersectors that have enhanced demand for smart glass in the North American region. Moreover, the strong demand for smart glass in countries such as China, India, Australia, and others, due to different developing application segments has attracted the key players to expand or enter in the region.
Key players operating in the global smart glass market include Asahi Glass Co. Ltd, ChromoGenics, Gauzy Ltd and Entities, Gentex Corporation, Halio Inc., PleotintLlc, RavenbrickLlc, Research Frontiers Inc., Saint Gobain and, Showa Denko Materials Co. Ltd.
COVID-19 analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The smart glass market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the building & construction, automotive, transportation, aerospace & aviation, and other sectors. The increasing risk of infection among the workforce has resulted in delayed construction projects amid the COVID-19 scenario where smart glass is widely used in windows, partitions, skylights, doors, and curtain walls to create a climate adaptive light atmosphere. For instance, according to an article published by CNA, the construction Industry Joint Committee (CIJC) has said that the shortage of manpower may lead to delay in construction projects attributed to workplace safety, and other factors. Moreover, several smart glass manufacturers have either shut down or shrank their operations which in turn have resulted in supply chain disruptions. Also, different raw materials for producing smart glass is purchased or hired from other enterprises. The decreased purchasing potential of suppliers has also negatively impacted the market amid the COVID-19 scenario. Furthermore, the COVID-19 pandemic has led to disruptions in transportation, contractual implications problems, labor shortage, and other factors that together have led the smart glass market to witness a downfall. For instance, according to a report published by the Australian Performance of Construction Index (PCI) Survey, the construction activity has dropped by 16.3 points to 21.6 points from March 20201 to August 2020.
However, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of Smart glass market. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This is predicted to boost the growth of the Smart glass market post-COVID-19 period.
Key Findings Of The Study
- The suspended particle device (SPD) segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 128% from 2021 to 2030
- The transportation segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 130% from 2021 to 2030
- The Europe garnered the highest share of 34.5% in 2020, in terms of revenue, growing at a CAGR of 128%
Companies Mentioned
- Asahi Glass Co. Ltd
- ChromoGenics
- Gauzy Ltd and Entities
- Gentex Corporation
- Halio Inc.
- PleotintLlc
- RavenbrickLlc
- Research Frontiers Inc.
- Saint Gobain
- Showa Denko Materials Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 4.6 billion |
| Forecasted Market Value ( USD | $ 15.1 billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
