Smart Glass Market is segmented by Technology Type (Electrochromic, Photochromic, Polymer Disperse Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, and Others), by Application Type (Construction, Power Generation, Transportation, and Others)and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
Smart Glass Market is segmented by Technology Type (Electrochromic, Photochromic, Polymer Disperse Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, and Others), by Application Type ...
The smart glass market was estimated at US$ 4.6 billion in 2021 and is expected to grow at a CAGR of 12.7% during 2022-2028 to reach US$ 13 billion in 2028.
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What is Smart Glass?
Smart glass refers to glass that can change its properties, such as transparency or tint, in response to an electric current, temperature, or light. It's often used for privacy, energy efficiency, and aesthetics in various applications, including architectural, automotive, and electronic devices.
When light, heat, or voltage are given to smart glass, also known as switchable glass, its qualities for transmitting light change. It is made by laminating a switchable film with acrylic or polycarbonate laminates. Both residential and commercial buildings frequently have it placed in the envelope to provide a climate-adaptive lighting environment.
Additionally, it is employed as an electrochromic glass in a number of end-use industries, including the automotive, transportation, power, aerospace & aviation, and others.
Key Players
The following are the major players in the smart glass market:
AGC Inc.
ChromoGenics
Corning Incorporated
Gentex Corporation
Guardian Industries
Kinestral Technologies, Inc.
Nippon Sheet Glass Co., Ltd.
PPG Industries, Inc.
Saint-Gobain S.A.
There is stiff competition in the smart glass market. The growth of the companies is directly dependent on the industry conditions and government support. These companies differentiate their Smart Glass based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:
In October 2021, In order to create glass applications that power gadgets without needing electrical cables, NSG Group established a partnership with Cohda Design Limited (UK).
Saint-Gobain purchased IMPAC, a pioneer in Mexican construction chemical solutions, in November 2021. By enhancing the Group's position in Latin America and accelerating its growth there, this will increase the array of green and sustainable building solutions the Group offers.
The Research Frontiers SPD-Smart light control film was applied to the headlights of the BMWi Vision Circular Showcar in September 2021. When the light is turned on, the SPD glass transforms from opaque to transparent.
In order to create digital eyeglasses that will benefit those with vision impairments, Gentex teamed up with eSight in January 2022.
When Gentex purchased Air-Craftglass in 2020, the thin-glass laminating technology was also acquired. This was done in October 2021. The technology's dependability, ultra-thinness, and light weight make it suitable for usage in airplanes.
In order to develop an augmented reality heads-up display, Corning teamed up with Hyundai Mobis in July 2021. The ONIQ5 electric crossover utility vehicle was the first to utilize the technology.
Market Dynamics
The market will increase significantly as a result of the construction industry's expansion and rising investment in infrastructure projects. Consumers' growing preference for glass over brick and cement walls will open up profitable growth opportunities for the market in the near future. Large, floor-to-ceiling glass windows, which are becoming more popular, are also encouraging product adoption and opening up new commercial prospects for the makers.
The ongoing repair and renovation projects taking place all over the world are anticipated to increase demand for smart glass. Around 19 million square feet of residential windows are installed in the United States alone, and 500 million square feet of windows are placed in the commercial sector, according to the Department of Energy (DoE).
Most of these structures were built before the ASHRAE standards, which deal with indoor air quality, thermal comfort, and energy conservation in buildings, were established. The American market is anticipated to benefit significantly from the retrofitting of such structures. However, over the projected period, factors including a high base cost and a lack of consumer understanding of the benefits of the product could have an impact on demand for smart glass.
For instance, the Canadian government announced in April 2021 that it will contribute USD 1.5 billion to expand green building projects through institutional renovations, retrofits, and construction. Due to its energy-saving qualities, attractive 3D design, and thermal and acoustic insulation, such programs have been promoting the use of smart glass in recent years. Smart glass can be used in doors, windows, walls, and skylights to effectively manage sunlight and prevent an increase in indoor temperatures during the summer. As a result, the building's overall energy consumption and carbon impact are decreased.
Smart glass technology faces several challenges, including: Cost: The production of smart glass can be expensive, making it a costly option for some applications. Durability: Smart glass may be less durable than traditional glass, especially in harsh environments. Complexity: The technology used to produce smart glass can be complex, making it challenging to manufacture and repair. Consistency: Ensuring consistent and uniform performance across large glass surfaces can be difficult.
Segment Analysis
Technology Type
Electrochromic, Photochromic, Polymer Disperse Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, and Others are the types. Electrochromic market hold the largest share in 2021. The largest share is mainly due to the features of the device, including its high UV and IV ray blocking ratio, low driving voltage, and simplicity of integration with large glass panels.
Additionally, electrochromic glass can be stained, colored, and made opaque to adjust how much light and heat it transmits depending on the situation. These glasses are widely used in medical facilities, educational facilities, business settings, and retail stores.
Application Type
Construction, Power Generation, Transportation, and Others comprise the application. Transportation holds the largest market share in the application segment in 2021. Aircraft, automotive, and marine are further subdivided under the transportation sector. The significant expansion in the automobile market can be attributed to luxury car manufacturers' increased use of smart glass.
The market participants are being pushed by the increasing demand to broaden their product offerings in this niche in order to obtain a competitive advantage. For instance, the automotive giant BMW debuted its BMWi Vision Circular Showcar in September 2021 at the IAA Auto Show. This vehicle was outfitted with a cutting-edge headlamp that was created utilizing the SPD LCG Technology created by Gauzy Ltd.
Regional Analysis
North America is likely to maintain its largest share in the smart glass market throughout the forecast period. This can be attributed to the availability of value-added goods like laminated glass as well as the implementation of energy-saving building laws in the area. The area businesses are introducing products that meet consumer demands.
One such example is the AI-based smart glass solution that Halio, Inc. revealed at CES 2022 in 2022. It includes responsiveness and speed, clear and tint color, tint uniformity, and cloud-based technology for autonomous operation. The regional automotive industry is anticipated to see an increase in demand for smart glass due to the growing popularity of electric vehicles equipped with cutting-edge technology.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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Smart glass refers to glass that can change its properties, such as transparency or tint, in response to an electric current, temperature, or light. It's often used for privacy, energy efficiency, and aesthetics in various applications, including architectural, automotive, and electronic devices.
The following are the major players in the smart glass market AGC Inc., ChromoGenics, Corning Incorporated, Gentex Corporation, Guardian Industries, Kinestral Technologies, Inc., Nippon Sheet Glass Co., Ltd., PPG Industries, Inc., Saint-Gobain S.A.
North America is likely to maintain its largest share in the smart glass market throughout the forecast period. This can be attributed to the availability of value-added goods like laminated glass as well as the implementation of energy-saving building laws in the area.
The market will increase significantly as a result of the construction industry's expansion and rising investment in infrastructure projects. Consumers' growing preference for glass over brick and cement walls will open up profitable growth opportunities for the market in the near future. Large, floor-to-ceiling glass windows, which are becoming more popular, are also encouraging product adoption and opening up new commercial prospects for the makers.
