Dallas, March 10, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global electrochemical glass market is expected to grow from USD 1.68 Billion in 2020 to USD 6.23 Billion by 2030, at a CAGR of 14% during the forecast period 2021-2030.
When an electrical signal is applied to electrochemical glass, the amount of light it transmits changes. The state of the glass is changed from transparent to opaque in this reversible process. Electrochemical glass is a type of variable transmittance glass that operates similarly to suspended particle devices (SPDs) but uses lithium ions instead of nanoparticles and does not require a constant voltage to maintain the change in the glass. A single burst of electricity is dispersed when electrochromic glass is activated, and the appearance of the glass changes even after the electricity has dissipated. After the electricity is turned off, the glass will retain its original appearance, whether transparent or translucent. To restore the glass to its previous state, a second burst of electricity is required.
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Key players operating in the global electrochemical glass market are AGC Inc., Econtrol-Glas GmbH & Co. KG, ChromoGenics AB, Dupont De Nemours Inc., SAGE Electrochromics (Compagnie De Saint-Gobain), Gentex Corporation, Guardian Industries (Koch Industries Inc), Ravenbrick LLC and View Inc. among others. To enhance their market position in the global electrochemical glass market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
The nanocrystal segment had a significant market share in 2020.
The resin type segment is divided into nanocrystal, viologen, transition metal oxide (TMO), reflective hydride, polymer. The nanocrystal segment had a significant market share in 2020. Nanocrystal electrochemical glass material is a thin layer of nanocrystals embedded in glass that can change the way sunlight is reflected when it travels through a window.
The door segment revenue is anticipated to increase at a steady rate over the forecast period.
The product segment includes windows, doors, mirrors, displays, sunglasses, others. The door segment revenue is anticipated to increase at a steady rate over the forecast period.
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The transportation segment dominated the market with a market share of around 35.5% and a market value of around USD 0.6 billion in 2020.
The end-use industry segment includes commercial, transportation, residential, others. The transportation segment dominated the market with a market share of around 35.5% and a market value of around USD 0.6 billion in 2020. Electrochemical glass benefits passengers by reducing heat generation and providing privacy. Electrochemical glasses are used in a variety of applications, including sunroofs, skylights, windows, doors, rearview mirrors, and windshields. Sunglasses with electrochemical glasses quickly adjust between multiple shades of darkness in response to ambient light. These shades are available in a variety of colours and are becoming increasingly popular among consumers.
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Regional Segment Analysis of the Electrochemical Glass Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe region emerged as the largest market for the global electrochemical glass market with a market share of 36.4% and a market value of 0.61 billion in 2020. Consumers in developed countries such as the United States and Canada, as well as European countries such as Germany, the United Kingdom, France, and Italy, are increasingly concerned about energy conservation due to heat and poor natural lighting transmitted through conventional windows. Electrochromic glass has grown in popularity and adoption as a result of the presence of some of the largest automotive companies in Europe adopting these materials for improved consumer satisfaction.
About the report:
The global electrochemical glass market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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