Switchable Glass Market is to Touch $10.2 Billion by 2030; Increasing use in automotive industry and Growing applications in the solar energy plants propels market growth.

The Switchable Glass Market size is estimated to reach $10.2 billion by 2030, growing at a CAGR of 12% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Switchable Glass Market – By Technology (Electrochromic, Thermochromic, Photochromic, Suspended Particle Devices, (SPD), Polymer Dispersed Liquid Crystal (PDLC), and Others), By Application (Architectural, Transportation, Power Generation, Consumer Electronics, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Rising technological advancements and increasingly installing electrochromic windows owing to their security & luxury factors in airplanes are expected to create growth opportunities in the market during forecast period.

Europe accounted for the largest share of 35% of the Switchable Glass Market in 2023. According to the International Trade Administration in 2023, the UK construction market valued at $386 billion employed nearly 2.8 million individuals. The demand is therefore anticipated to increase in the forecast period due to the rising automotive and building construction industry. 

The automotive industry is rising at a rapid rate. The sales of light and heavy-duty vehicles in recent years have been powered by increased market trust in the economy and higher investment. Several variables affect the market for automotive Switchable Glass. With an increase in the overall car population and the number of miles traveled the replacement volume of glasses increases. The demand for automotive glass repair and replacement can also be boosted by severe weather and road conditions. Production of new cars, turnover of used vehicles and vehicle inspection regulations therefore have a positive effect on demand for Switchable Glass for automotive applications in various countries. Approximately 81.6 million cars were produced. The total number of vehicles produced in 2022 was further broken down by nation by the International Organization of Motor Vehicle Manufacturers (OICA). First place went to China with 26.1 M cars, then the US and Japan. Three African nations—South Africa, Morocco, and Egypt—made the list of the top 31 automakers.

Solar power generation plants are one of the emerging users of Switchable Glass. In solar panels, Switchable Glass is used to consume the full volume of light to produce electricity. Energy-related prices are constantly growing, with demand for alternative power sources increasing over the last decade. One of the alternatives to traditional energy sources is solar energy. According to the Ministry of New and Renewable Energy, ongoing solar projects such as Development of Solar Parks and Ultra Mega Solar Power projects will drive the demand for Switchable Glass in the solar industry. Thus, rising initiatives by governments and the growth of the solar industry is projected to offer many opportunities for the growth of the Switchable Glass market. 

Key companies profiled in the Switchable Glass Market are AGC Inc., ChromoGenics, Gauzy Ltd., Gentex Corporation, Halio Inc., Saint Gobain, Research Fronteirs, Smartglass International, Innovative Glass Corp, Nippon Sheet Glass Co., Ltd, and others.