The global market for smart glass-based products increased from $883.1 million in 2009 to $1.2 billion in 2010, and was valued at nearly $1.6 billion in 2011. The market is forecast to grow at a compound annual growth rate (CAGR) of 21.6% from 2011 to 2016, reaching global revenues of nearly $4.2 billion in 2016.
The construction segment reached $92.7 million in 2010 and $113.3 million in 2011. This segment is expected to reach $224.3 million by 2016, a CAGR of 14.6%.
The smart glass products in the construction segment are frequently used in commercial buildings for privacy glass. This market reached reached $69.8 million in 2010 and $79.7 million in 2011. The market is expected to reach $129.5 million by 2016, a CAGR of 10.6%.
GLOBAL MARKET FOR SMART GLASS PRODUCTS, 2009 - 2016
Source: BCC Research
The origins of smart glass can be traced back to the year 1704, when the first electrochromic material was discovered, but interest in smart glass technology only started to gain significant momentum in the early 1970s, when the number of research activities resulting in patent applications and issued patents increased rapidly. This led to the development of improved fabrication processes, advanced properties and an increased number of applications spanning many industrial sectors.
BCC published its first report on smart glass in February 2009. Since then, the market for these materials and related products has continued to expand. New technological developments and industry changes have also taken place.
The primary goal of this report is to provide new insights into current smart glass technology, as well as to outline technological trends and offer an updated market analysis for these materials.
Specifically, the major objectives of this study are:
The term smart glass refers to a group of chromogenic materials that change their light transmission properties when voltages are applied. The ability of these materials to change opacity and/or color when voltages are applied has been exploited in numerous applications, including architectural use, residential and commercial construction, interior design, museum artwork expositions, high-end appliances, advanced displays, automotive mirrors and privacy glass.
In 2008, the market for smart glass-based products was valued at more than $1 billion. After several years of healthy growth, the market for smart glass experienced a slowdown in growth as a result of the global economic downturn in 2008 and 2009. Since BCC's last report in 2009, global economic conditions have gradually improved. In addition, smart glass fabrication technologies have continued to evolve. Several new applications have been developed, whereas others are ready to exit the development stage and enter commercialization.
The principal reason for doing this study is to present a current assessment of the smart glass industry by focusing on markets and technologies, as well as to outline future trends and key developments.
There is also a need to evaluate the current status and future trends of the smart glass industry from a global standpoint. As use of smart glass-based products expands and new fields of application emerge, information on regional production, sales and supplier types becomes more valuable.
An equally important reason for undertaking this study is to provide technical insights into smart glass manufacturing by:
This information can assist companies in identifying opportunities for process and productivity improvements, resulting in a positive impact on future market growth.
This study provides an updated review of smart glass technology, including materials and fabrication processes, and identifies current and emerging applications for this technology.
BCC Research determines the current market status of smart glass, defines trends and presents growth forecasts for the next five years. The smart glass industry is also analyzed on a global basis from the standpoint of both manufacturing and consumption. In addition, technological issues, including key events and the latest process developments, are discussed.
More specifically, BCC's market analysis is divided into eight sections.
The first section provides a historical review of smart glass technology, including an outline of recent events. The report also offers a description of current and emerging applications for smart glass.
The second section provides a technological review of smart glass types, materials and their fabrication processes. This section concludes with an analysis of the most important technological developments and improvements since 2009, including examples of significant patents recently issued or applied for.
The third section entails a global market analysis of smart glass. Global revenues (i.e., sales data in millions of dollars) are presented by product type, application and region, with actual data referring to the years 2009 and 2010, and estimates for 2011.
This section concludes with a presentation of market growth trends based on industry growth, technological trends and regional trends. Projected revenues for smart glass are reported, with forecast compound annual growth rates (CAGRs) for the period 2011 through 2016.
Next, three optional sections are offered. These sections provide a more focused discussion of the smart glass market for the three main sectors in which smart glass finds application: transportation and aerospace, construction and electronics and others. In these optional sections, additional details by sector on applications, current market breakdown, industry growth and key trends and developments are provided, in addition to a market summary for the last three years and growth projections for the next five years for each application. Also included are market data by smart glass type, material and region for each sector evaluated.
In the next section, which covers global industry structure, the report offers a list of the leading manufacturers of smart glass, along with descriptions of their products. The analysis includes a description of the geographical distribution of these suppliers and an evaluation of smart glass production versus consumption, always from a geographical standpoint. Detailed company profiles of the top industry players are also provided.
The final section includes an extensive U.S. patent analysis, with a summary of patents related to smart glass materials, fabrication processes and applications issued during the period from 2009 through 2011. Patent analysis is performed by region, country, assignee, patent category, application and smart glass type.
Margareth Gagliardi, BCC's Chief Research Analyst in Advanced Materials, has more than 25 years of experience in the field of advanced materials, specializing in ceramic formulations, materials processing and new product development. She has held management positions in both manufacturing and R&D within U.S. and European firms producing electronic, mechanical, chemical and structural components. She holds a B.S. in Chemical Engineering and an M.S. in Ceramic Engineering.
Ms. Gagliardi has authored numerous BCC Research studies.
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