일렉트로크로믹 재료 시장 - 예측(2024-2029년)

The electrochromic materials market is surging at the compound annual growth rate (CAGR) of 7.25% during the forecast period (2024-2029).

Electrochromic materials are capable of varying their color and transparency reversibly. These materials have been extensively studied and researched for their application in electronic devices, automotive, buildings, etc. The scale application of electrochromic materials is huge in the building and construction industries for windows and walls, where they are capable of energy savings. Through smart windows, buildings and operations such as heating and cooling can be controlled, saving emissions through electrical appliances.

Further, the driving factor is the growing application of electrochromic materials in the defense sectors, where they can be used in multiple ways, such as camouflaging tools, devices, and weapons. Drone attacks can only be successful in multiple regions, especially in urban towns where they are hidden and cannot be recognized. By using electrochromic materials, their visibility can be decreased.

• The demand for electric vehicles is a growing trend in the automobile sector. In 2023, 14 million electric cars were sold in the global market. Major demand comes from China, Europe, and the United States, according to the IEA (International Energy Agency). These new types of cars needed electrochromic materials for their displays, rear windows, side windows, sunroofs, etc. The electrochromic materials give the vehicle an adequate look.
• The growing demand for electronic devices further widens the demand for electrochromic materials. This is applied in the displays of every device for proper functioning of glow and brightness. In the United States, the imports of electronic products have increased by 9.27% from 2021 to 2022.

ELECTROCHROMIC MATERIALS MARKET DRIVERS:

• Growing demand in the automotive sector

The burgeoning automobile sector has created a demand not only for vehicles but also for related parts and pieces of equipment. The automobile industry uses electrochromic materials for both exterior and interior purposes. By the use of electrochromic materials, the vehicle design and looks are enhanced. The use of electrochromic materials in glazings, automotive mirrors, rearview mirrors, sunroofs, sunglasses, and other high-end applications. These applications enhance the looks of the vehicle as well as provide convenience for travelers. Certain vehicles have a control that is suited for both solar and thermal control.

The windows and glasses can switched to dark during the day and switched back to transparency in the evening, at night, or during cloudy periods. The new age-designed electric vehicles are driving the sales of the overall automotive sector. Electric vehicles in Europe have seen an increase of 17.39% from 2021 to 2022 and an 18.52% increase from 2022 to 2023 in sales, according to the International Energy Agency. These number gives the significance of the growing electric vehicle sales in the global market.

• Rising demand from consumer electronics and other sector

Electrochromic materials are used in electronic devices such as mobile phones to adjust according to the transparency of solar radiation in a reversible manner. This is very helpful for the usage under different light conditions. With the growing demand for smart devices like smartphones, tablets, and watches, the need for electrochromic materials has grown. The trend lies in the use of a display that is suitable for different eye conditions and increases the readability time in the device. The growing demand for electronic devices would lead to the growing demand for these electrochromic materials also.

According to the International Telecommunication Union (ITU), 78% of individuals own a mobile worldwide. 63% now in Africa own a mobile phone in 2023, and 75% in the Asia Pacific owns the mobile phone. These numbers suggest the growing adaptability of the mobile phone in the far regions of developing countries. This is likely to grow in the coming years, due to the government policies and expanding telecom network.

• Increasing usage in the defense industry

Countries worldwide spend heavily on defense budgets owing to growing geopolitical tensions and insurgencies. In 2023, North American countries spent US$907.3 billion in military expenditures, according to the Stockholm International Peace Research Institute (SIPRI). These numbers suggest the level of spending by the nations for the offensive and the protective use.

Additionally, various militaries are developing Electrochromic Window Technology (smart window) and camouflage for vehicles and defense buildings as developed by DRDO (Defence Research and Development Organisation). This technology increases adaptability in many circumstances. Further, the ongoing development of stealth technology for drones and autopilot technology increased the demand for electrochromic materials in defense applications.

Drone technology is growing at a very rapid pace and needs new technology to remain invisible and unsighted in enemy territory. Modern warfare has shifted from natural territory to urban settings, where visibility is much higher than in nature. So, the application of electrochromic materials will increase in the coming years.

• The Asia Pacific region will dominate the electrochromic materials market during the forecast period.

The growing economies of Asia Pacific like India and China, would drive the market for electrochromic materials. The construction industry in both countries showing a sharp increase in demand. The concept of green buildings designed for energy-saving purposes has been growing partially due to environmental regulations. The use of electrochromic materials in the windows and walls not only gives a premium look to the building but also control over the coolness and hotness of the building. According to the IBEF (India Brand Equity Foundation), India's construction market is expected to reach US$1.42 trillion by 2027, showing the robust demand and growth of the sector. Indian Government facilitated the foreign investment in the construction and infrastructural development for the rapid expansion.

Further, China has become the global center for expanding the electric vehicle market by becoming the largest consumer of electric vehicles, according to the IEA (International Energy Agency). Moreover, China maintains a significant international share in the manufacturing of electronics. This high production capacity shows the overall input demand for the raw materials used in the electronic products, including the electrochromic materials in the application.

Electrochromic materials market restraints:

• The high cost of technological development is the primary reason for the impending growth of the market in various domains. The field is new, so research and development are needed, and so is funding for the development. This makes it difficult to develop and deploy electrochromic materials technology.
• Additionally, the competitive cost of other materials, that is, traditional materials, further created a difficult path for the adaption of the electrochromic materials. However, the applicability of electrochromic materials in green energy transformation would likely drive the market in the future. These materials are used to control temperature more cheaply, saving energy costs.

Electrochromic Materials Market Key Developments:

• In May 2023, Glass Dyenamics announced that its dimmable glass had achieved 150,000 cycles over 5,000 hours under ASTM E2141-21 durability conditions. Achieving the degradation standards of ASTM E2953-20 is a rare achievement. This was done in collaboration with the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) in Golden Town. Only three other companies had achieved this feat. Glass Dyenamics 150,000-cycle success greatly surpasses the minimum cycling qualification by three times and bests the current industry's max announced cycle count by 50%. This increases customer trust in the product and fulfills the value.
• In April 2022, Ynvisible Interactive Inc. announced its expansion of the licensing from the Research Institutes of Sweden (RISE), the license agreement includes exclusive worldwide rights to key patent families around printed electrochromic devices and displays. Ynvisible Interactive Inc. is a leading company in the e-paper display. This agreement strengthens Ynvisible's position as the provider of printed e-paper display products. RISE has the strength for printed display technologies and research in printed electrochromic technologies. This collaboration creates Ynvisible's unique capabilities and assets in e-paper display product design, printed electronics manufacturing, and strategic investments in printed e-paper products.
• In May 2022, Meta Materials Inc. collaborated with PPG to create dimming functionality of META's NANOWEB(R) transparent conductive film combined with PPG electrochromic gels and META's ARfusion(TM) platform. PPG has been pioneering solutions for the ophthalmic industry and the prescription eyeglass-wearing public for many decades, and Meta Materials Inc. is developed for functional materials and nanocomposites. They collaborated to create a new ophthalmic smart device primarily for extended reality (XR) applications. The key challenge for the companies is to find a way to overcome the high-brightness ambient lighting, such as outdoors on a sunny day, in the XR eyewear.

The electrochromic materials market is segmented and analyzed as follows:

By End User

• Automotive
• Aerospace and Defense
• Building and Construction
• Electrical and electronic devices
• Other Industries

By Material Type

• Viologens
• Conducting Polymers
• Metal Oxides
• Prussian Blue
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Growing demand in the automotive sector
  • 4.1.2. Rising demand from consumer electronics and other sector
  • 4.1.3. Increasing usage in the defense industry
• 4.2. Market Restraints
  • 4.2.1. High technology and competitive cost of other materials
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. ELECTROCHROMIC MATERIALS MARKET BY END-USER

• 5.1. Introduction
• 5.2. Automotive
• 5.3. Aerospace and Defense
• 5.4. Building and Construction
• 5.5. Electrical and electronic devices
• 5.6. Other Industries

6. ELECTROCHROMIC MATERIALS MARKET BY MATERIAL TYPE

• 6.1. Introduction
• 6.2. Viologens
• 6.3. Conducting Polymers
• 6.4. Metal Oxides
• 6.5. Prussian Blue
• 6.6. Others

7. ELECTROCHROMIC MATERIALS MARKET BY GEOGRAPHY

• 7.1. Global Overview
• 7.2. North America
  • 7.2.1. United States
  • 7.2.2. Canada
  • 7.2.3. Mexico
• 7.3. South America
  • 7.3.1. Brazil
  • 7.3.2. Argentina
  • 7.3.3. Rest of South America
• 7.4. Europe
  • 7.4.1. United Kingdom
  • 7.4.2. Germany
  • 7.4.3. France
  • 7.4.4. Italy
  • 7.4.5. Spain
  • 7.4.6. Rest of Europe
• 7.5. Middle East and Africa
  • 7.5.1. Saudi Arabia
  • 7.5.2. United Arab Emirates
  • 7.5.3. Rest of Middle East and Africa
• 7.6. Asia-Pacific
  • 7.6.1. China
  • 7.6.2. India
  • 7.6.3. Japan
  • 7.6.4. South Korea
  • 7.6.5. Taiwan
  • 7.6.6. Thailand
  • 7.6.7. Indonesia
  • 7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 8.1. Major Players and Strategy Analysis
• 8.2. Market Share Analysis
• 8.3. Mergers, Acquisitions, Agreements, and Collaborations
• 8.4. Competitive Dashboard

9. COMPANY PROFILES

• 9.1. Changzhou Yapu Smart Variable Color Optics
• 9.2. ChromoGenics
• 9.3. EControl-Glas GmbH & Co. KG
• 9.4. GENTEX CORPORATION
• 9.5. Ningbo Miro Electronic Technology
• 9.6. Ricoh
• 9.7. Saint-Gobain
• 9.8. View, Inc.
• 9.9. Zhuhai Kaivo
• 9.10. Zhuzhou Kibing Group
• 9.11. Shenzhen Guangyi Technology Co., Ltd.
• 9.12. Giner, Inc.
• 9.13. Thin Metal Films Limited.