The global energy efficient glass market is expected to reach $17.82 billion by 2026, at a CAGR of 19.5% from 2016 to 2026, according to BIS Research.
This growth is attributed to the factors such as a global shift towards energy efficient products, government laws and regulations regarding carbon emissions, and mass adoption of smart glass in the automotive and construction industry. The revenue is generated from the different glass technologies, namely, active (also known as smart glass because their properties can be engineered to modify or alter the amount of heat energy penetrating the glass) and passive (thermochromic and photochromic), in different end-user industries such as building & construction, transportation, power generation, consumer electronics, and others.
The demand for energy efficient glass is witnessing substantial growth in the emerging nations, especially in countries such as China, India and Brazil, among others. The robust growth in the developing regions is largely propelled by the increasing urban population and growing disposable income which in turn have stimulated the growth in the glass industry. As a result of these demographic changes, the global glass industry has undergone extensive structural reformation.
The trends of the energy efficient glass market vary across different geographical regions. The market currently holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Presently, North America is at the forefront of the energy efficient glass market, with high market penetration in countries such as the U.S., Canada and Mexico. The European market is expected to overpower all the other geographies, in terms of the adoption rate of these advanced technologies, owing to the stringent governmental regulations, growing glass, transportation, and construction industry, and the region’s sustainability goals for 2020, 2030 and 2050.
According to Nikita Kheterpal, analyst at BIS Research, “By technology, the global market for energy efficient glass was dominated by active glass that held a market share of 82.5% in 2016. This technology is projected to reach $15.1 billion by 2026, registering a CAGR of 19.8% from 2016 to 2026. The active technologies have proven to be the most energy efficient technologies in glass. The ease that these technologies offer to the users, such as user controlled switch for regulating the tint levels in window, among others, have increased their popularity among the consumers. This technology includes electrochromic glass, Suspended Particle Devices (SPDs), Polymer Display Liquid Crystal (PDLC), nano crystals and micro blinds, among others. ”
The rapidly growing energy efficient glass market is currently being driven by a number of potential applications found in the end-user industries of building & construction, transportation, and power generation, consumer electronics, among others. The market was dominated by the transportation industry in 2016, which held a market share of 45%. This end-user segment is estimated to reach $8.22 billion by 2026, registering a CAGR of 19.8% in the forecast period from 2016 to 2026.
The transportation end-user industry, which includes automotive, aerospace and marine, is majorly dominated by the automotive industry, with immense potential exhibited by marine and aerospace for the application of energy efficient glass technology. Significant reduction in the fuel consumption, heat loads, carbon emission, and energy bills, along with protection of the interior parts, and passenger comfort and safety are some of the reasons why energy efficient glass is being preferred the most in the transportation industry. Stringent governmental regulations for the automobile manufacturers to improve the energy efficiency of a vehicle is another reason for the projected high demand and growth of this industry.
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- BIS Research
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