Global Smart/Switchable Glass Market Share Is Likely To Reach At A CAGR Value Of Around 6.55% By 2028

19-Sep-2022 | Facts and Factors

According to Facts and Factors, the global smart/switchable glass market size was worth around USD 4,650.5 million in 2021 and is predicted to grow to around USD 7550.5 million by 2028 with a compound annual growth rate (CAGR) of roughly 6.55% between 2022 and 2028.

Smart or switchable glass is capable of switching between two states namely an opaque state and a clear state. It is impossible to see through opaque glasses while clear classes are transparent. The switch between the states can be achieved with the help of a remote button. Although there are multiple ways of manufacturing smart glass, there are 3 main ways of achieving this. These three methods include the glass being exposed to heat, light, or an electrical current. The end result of employing all three methods is the same, however, there is a vast difference between the mechanics of these systems. For instance, glasses using photochromic methods contain small molecules of silver halide that are suspended within the glass, and when exposed to sunlight, the molecules undergo a reaction to create a sheet of silver that does not transmit light. In thermochromic glasses, the catalyst is the heat from the sun rays and not the light itself, which leads to the glass becoming tinted. In the case of electronic glass, the switching occurs with the push of a button.

Browse the full “Smart/Switchable Glass Market Size, Share, Growth Analysis Report By End-User (Automotive & Transportation, Architecture & Construction, Electronics, Aerospace & Defense, and Others), By Technology (Polymer Dispersed Liquid Crystal (PDLC), Photochromic, Suspended Particle Devices (SPD) Glass, Thermochromic, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/smart-switchable-glass-market

Covid-19 resulted in slow growth during the peak of the pandemic caused by the closure of manufacturing units and delays in new launches. However, the changing consumer awareness and preference related to energy consumption and its impact are projected to help the global market cap grow in the coming years.

The global smart/switchable glass market is projected to grow owing to the privacy offered by smart classes which is one of the major reasons for the higher adoption rate in private spaces. With the pandemic, there is a significant rise in the remote work culture trend resulting in people spending more hours at home than they did before Covid-19. This has caused an increase in spending on residential places to make the home environment more work-friendly. Since smart glasses can easily switch between states, they are a preferred solution for achieving privacy when needed. The global market cap is also projected to benefit from the rising emphasis on sanitation in hospitals and clinics. The traditional roll-up window panels, or other forms of shields, cannot be considered 100% hygienic since it involves human touch. Smart glasses are acting as the perfect substitute for conventional blinds or curtains in hospitals with high budgets. Some of the other factors contributing to high revenue include growing government initiatives to encourage methods that optimize energy consumption at least in large buildings that are a leading cause of carbon emission.

The high cost of glass may impede global market expansion while growing research & development is projected to provide excellent market growth opportunities, and less market penetration in the low-income group is anticipated to pose major expansion challenges

The global smart/switchable glass market is segmented based on technology, end-user, and region.

Based on technology, the global market is divided into polymer dispersed liquid crystal (PDLC), photochromic, suspended particle devices (SPD) glass, thermochromic, and others. SPD glass is projected to generate the highest revenue owing to features involving remote control. The technology patented by Research Frontiers Inc. garnered an increase of USD 434,584 from licensing activities.

Based on end-user, the global market segments are automotive & transportation, architecture & construction, electronics, aerospace & defense, and others. The global market was dominated by the automotive & transportation segment in 2021 owing to the rising applications of smart glass to manufacture premium-grade windshields, sunroofs, and other glass-related parts, especially in high-end cars. For instance, In 2021, BMW i Ventures announced a USD 300 million fund for modern technology adoption.

The global smart/switchable device market is projected to generate the highest revenue in North America. This could be driven by the rising emphasis on the government on the utilization of clean energy resources as well as smarter ways of using energy. Buildings are known to be heavy contributors to the rise in carbon emissions that are impacting the global environment. As per official data, around 40% of yearly carbon dioxide (CO2) emissions are from the building industry. The United States is at the forefront since it employs millions of skyscrapers across the regional states. As per the official site detailing information about New York, in 2020, the city was responsible for over 56.5 million tons of CO2 equivalent. However, there is a significant rise in efforts toward reaching 0 carbon emissions by 2050 and smart glasses are expected to play an important role in achieving this vision. Asia-Pacific may also register high growth due to technological adoption in the automotive field for consumers demanding better vehicles that are also eco-friendly.

Report Scope

The global smart/switchable glass market is led by players like Royal DSM, Mitsubishi Chemicals, Ashland Inc., Chevron Philips Chemical Company, Nova Chemicals Corporation, IneosStyrolution Group GmbH, and others.

Recent Developments:

• In April 2021, SageGlass, a global leader in electrochromic glass, was selected by the Bagmane Group for the creation of the world’s largest smart glass installation.
• In June 2022, View Inc. announced the launch of the market’s first complete, cloud-native platform to help develop smart buildings.

The global smart/switchable glass market is segmented as follows:

By End-User

• Automotive & Transportation
• Architecture & Construction
• Electronics
• Aerospace & Defense
• Others

By Technology

• Polymer Dispersed Liquid Crystal (PDLC)
• Photochromic
• Suspended Particle Devices (SPD) Glass
• Thermochromic
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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