Electrochromic Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electrochromic Materials Market Analysis
The global electrochromic materials market is estimated to witness a healthy growth, at an estimated CAGR of over 8%, over the forecast period. The major factor driving the growth of the market studied is growing demand from aerospace and consumer electronics.
- Strong foothold of conventional materials and their low cost is likely to hinder the markets growth.
- Increased defense spending by the government of United States is also likely to augment the market growth in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Electrochromic Materials Market Trends
This section covers the major market trends shaping the Electrochromic Materials Market according to our research experts:
Increasing Usage in the Automotive Industry
- Automotive sector is a significant market which holds potential for growth in terms of the demand for electrochromic glass and films. Smart glass is used in the form of doors, windows, sunroofs and rear mirror.
- Smart glass is extensively used for sunroofs that offer cost-saving benefits and provide superior control over light and heat emission, reducing the consumption of the air-conditioning unit by maintaining the car's cabin temperature. This reduces the cooling and lighting costs of the vehicle.
- In 2019, the automotive production witnessed a decline owing to trade war pf US-China and other political reasons. This is expected to continue in the first half of 2020, owing to the weak sales in second half of 2019. However, the automotive industry is likely to recover by the end of 2020.
- In addition, the development of electric vehicles may continue to gain momentum in the upcoming years especially in Europe, China. and United States, where many government programs are promoting a move away from fossil fuels owing to the various environmental concerns.
- Owing to all these factors, the market for electrochromic materials is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
- Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China's geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the 'Made in China 2025' initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. 'Automobile Mid and Long-Term Development Plan', was released in 2017, with an objective to make China a strong auto power in the next ten years.
- Due to all such factors, the market for electrochromic materials in the region is expected to have a steady growth during the forecast period.
Electrochromic Materials Industry Overview
The electrochromic materials market is partially consolidated in nature. Some of the major players in the market include GENTEX CORPORATION, Saint-Gobain, View, Inc., ChromoGenics, and EControl-Glas GmbH & Co. KG, among others.
Electrochromic Materials Market Leaders
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GENTEX CORPORATION
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Saint-Gobain
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View, Inc.
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ChromoGenics
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EControl-Glas GmbH & Co. KG
*Disclaimer: Major Players sorted in no particular order
Electrochromic Materials Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing demand from Aerospace & Consumer Electronics
- 4.1.2 Increased Defense Spending by the Government of United States
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4.2 Restraints
- 4.2.1 Strong Foothold of Conventional Materials and their Low Cost
- 4.2.2 Impact of COVID-19 Pandemic
- 4.3 Industry Value-Chain Analysis
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4.4 Porters Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Viologens
- 5.1.2 Conducting Polymers
- 5.1.3 Metal Oxides
- 5.1.4 Prussian Blue
- 5.1.5 Other Product Types
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5.2 End-user Industry
- 5.2.1 Automotive
- 5.2.2 Electrical and Electronics
- 5.2.3 Building and Construction
- 5.2.4 Aerospace and Defense
- 5.2.5 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Changzhou Yapu Smart Variable Color Optics
- 6.4.2 ChromoGenics
- 6.4.3 EControl-Glas GmbH & Co. KG
- 6.4.4 GENTEX CORPORATION
- 6.4.5 Hitachi Chemical Co., Ltd.
- 6.4.6 Nikon Corporation
- 6.4.7 Ningbo Miro Electronic Technology
- 6.4.8 Ricoh
- 6.4.9 Saint-Gobain
- 6.4.10 View, Inc.
- 6.4.11 Zhuhai Kaivo Optoelectronic Technology
- 6.4.12 Zhuzhou Kibing Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityElectrochromic Materials Industry Segmentation
The global electrochromic materials market report includes:
| Product Type | Viologens | |
| Conducting Polymers | ||
| Metal Oxides | ||
| Prussian Blue | ||
| Other Product Types | ||
| End-user Industry | Automotive | |
| Electrical and Electronics | ||
| Building and Construction | ||
| Aerospace and Defense | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Electrochromic Materials Market Research FAQs
What is the current Electrochromic Materials Market size?
The Electrochromic Materials Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Electrochromic Materials Market?
GENTEX CORPORATION, Saint-Gobain, View, Inc., ChromoGenics and EControl-Glas GmbH & Co. KG are the major companies operating in the Electrochromic Materials Market.
Which is the fastest growing region in Electrochromic Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electrochromic Materials Market?
In 2024, the Asia Pacific accounts for the largest market share in Electrochromic Materials Market.
What years does this Electrochromic Materials Market cover?
The report covers the Electrochromic Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electrochromic Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electrochromic Materials Industry Report
Statistics for the 2024 Electrochromic Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electrochromic Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
