NEW YORK, Feb. 11, 2022 /PRNewswire/ — The electrochromic materials market potential difference will be USD 4.02 billion, as per the latest market analysis report by Technavio. However, the report identifies the market to witness a decelerating growth momentum at a CAGR of 20.11% from 2021 to 2026. The report also offers a comprehensive analysis on the crucial factors influencing the market’s growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Electrochromic Materials 2022-2026: Driver and Challenge Analysis
Increased use in the automobile industry is one of the key factors driving the global electrochromic materials market growth. The automotive industry is a big market with great development potential in terms of the demand for electrochromic glass and films. These glasses are being increasingly deployed in doors, windows, sunroofs, and rearview mirrors to offer improved control over light and heat emission. This also lowers the vehicles’ cooling and lighting expenses. In addition, the development on electric cars will also gain traction in the upcoming years, mainly in Europe, China, and the US. Electric cars also deploy smart glasses manufactured from electrochromic materials. Thus, rising development of electric cars will further drive the electrochromic materials market’s growth during the forecast period.
However, drawbacks in conventional materials and their high processing cost will hinder the market’s growth during the forecast period. The benefits of electrochromic windows have yet to be exploited on a large scale, as traditional materials have a high cost, durability, and functionality limitations. Traditional electrochromic fall short of the ideal smart window and have failed to obtain widespread acceptance, which is expected to hinder the growth of the electrochromic materials market during the forecast period.
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Electrochromic Materials 2022-2026: Segmentation Analysis
- Application
- Smart Windows
Smart windows application segment held the largest electrochromic materials market share in 2021. The segment will account for the highest revenue during the forecast period mainly due to the increasing deployment of different types of smart window technologies including electrochromic, thermochromic, and polymer-dispersed liquid crystals. In addition, smart windows offer increased operational efficiency and minimized routine tasks. These advantages are likely to fuel the adoption of smart windows in many industrial applications, in turn, boosting the electrochromic materials market’s growth during the forecast period. - Displays
- Others
- Geography
- North America
North America held the largest electrochromic materials market share in 2021. The region will generate growth across all the years of the forecast period between 2021 and 2026. The YOY growth during this period will vary between 17.81% and 20.88%. The increasing usage of smart glass in automobile windows is expected to rise the demand for EVs in the US, which, in turn, will drive the growth of the electrochromic materials market in North America during the projected period. The rising popularity and manufacturing of EVs will boost the demand for electrochromic materials during the projection period, in turn, leading the region to account for 34% of the overall market growth during the forecast period. - Europe
- APAC
- South America
- MEA
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Electrochromic Materials Market 2022-2026: Vendor Analysis and Scope
The electrochromic materials market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Some of the major vendors of the electrochromic materials market include Ashwin Ushas Corp., Changzhou Spectrum New Material Co. Ltd., ChromoGenics AB, Compagnie de Saint Gobain SA, Gentex Corp., Giner Inc., iGlass Technology Inc., Ricoh Co. Ltd., View, Inc., and Ynvisible Interactive Inc. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the electrochromic materials market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The report also covers the following areas:
- Electrochromic Materials Market size
- Electrochromic Materials Market trends
- Electrochromic Materials Market industry analysis
Electrochromic Materials Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist electrochromic materials market growth during the next five years
- Estimation of the electrochromic materials market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electrochromic materials market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electrochromic materials market vendors
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Electrochromic Materials Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 20.11% |
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Market growth 2022-2026 |
$ 4.02 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
16.05 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, China, Germany, UK, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Ashwin Ushas Corp., Changzhou Spectrum New Material Co. Ltd., ChromoGenics AB, Compagnie de Saint Gobain SA, Gentex Corp., Giner Inc., iGlass Technology Inc., Ricoh Co. Ltd., View, Inc., and Ynvisible Interactive Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 – 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Smart windows – Market size and forecast 2021-2026
- Displays – Market size and forecast 2021-2026
- Others – Market size and forecast 2021-2026
- Market opportunity by Application
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2021-2026
- Europe – Market size and forecast 2021-2026
- APAC – Market size and forecast 2021-2026
- South America – Market size and forecast 2021-2026
- MEA – Market size and forecast 2021-2026
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Ashwin Ushas Corp.
- Changzhou Spectrum New Material Co. Ltd.
- ChromoGenics AB
- Compagnie de Saint Gobain SA
- Gentex Corp.
- Giner Inc.
- iGlass Technology Inc.
- Ricoh Co. Ltd.
- Ynvisible Interactive Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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