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Electrochromic Materials Market: Highlights

  • Electrochromic materials undergo reversible changes in optical absorbance upon electrically induced oxidation and reduction. Devices comprising these materials require an initial electrical stimulus sufficient to induce a change in oxidation state, rather than a constant stimulus to sustain emission.
  • Electrochromic materials can change their properties under the influence of an electrical voltage or current. Different classes of materials such as transition metal oxides, conjugated polymers, metal-coordinated complexes, and organic molecules exhibit this behavior. The color change is persistent; therefore, the electric field needs to be applied to initiate the switching, allowing for applications such as low-energy consumption displays, light-adapting mirrors in the automobile industry, and smart windows for which the amount of transmitted light and heat can be controlled.
  • Electrochromic materials are primarily used in applications such as automobile rearview mirrors, smart windows, displays, and defense

Key Drivers of Electrochromic Materials Market

  • Extensive growth in the automotive industry, particularly in Europe, is expected to drive the electrochromic materials market during the forecast period. Advancements in production and management systems have revolutionized the automobile industry over the last decade.
  • Increase in usage of electrochromic materials in various end-use industries is also propelling the electrochromic materials market

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Electrochromic Materials Market: Key Application Segment

  • Based on application, the global electrochromic materials market can be divided into automobile rearview mirrors, smart windows, displays, defense, and others
  • The automobile rearview mirrors segment is projected to account for significant share of the global electrochromic materials market by 2027. The segment is estimated to expand at a healthy pace during the forecast period. 
  • The automotive industry in India produced 30,915,420 vehicles (including passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles) in April–March 2019 as against 29,094,447 in April–March 2018, registering a growth of 6.26% over the same period in the last year. This increase in automotive production is estimated to boost the demand for electrochromic materials during the forecast period.
  • Expanding at a healthy growth rate, the smart window segment is projected to create significant incremental opportunity during the forecast period. Demand for electrochromic materials in other applications is likely to remain moderate to high across different regions in the near future.

Asia Pacific to be Prominent Region of Electrochromic Materials Market

  • In terms of region, the global electrochromic materials market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The electrochromic materials market in Asia Pacific is expected to expand continuously during the forecast period. It is anticipated to be followed by Europe. Growth in automotive and construction sectors in countries such as India and China has significantly boosted the market in Asia Pacific. Rise in concerns about energy savings and significant interest among consumers regarding adoption of new technologies, particularly in automotive and construction industries, are propelling the demand for smart materials in the region.
  • Increase in global concerns about environmental effects and growth in penetration of global manufacturers along with the innovative and high standard products are also driving the demand for smart materials in Asia Pacific. This, in turn, is augmenting the electrochromic materials market in the region.
  • The electrochromic materials market in North America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period

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Key Manufacturers in Market

The global electrochromic materials market was highly fragmented in 2018. Key manufacturers operating in the global market include:

  • Saint-Gobain
  • ChromoGenics
  • EControl-Glas GmbH & Co. KG
  • PPG Industries, Inc.
  • GSI Technologies
  • Ningbo Miro Electronic Technology
  • Zhuhai Kaivo Optoelectronic Technology
  • Changzhou Yapu Smart Variable Color Optics
  • Asahi Glass Co
  • Hitachi Chemical
  • Nikon Corp

Global Electrochromic Materials Market: Research Scope

Global Electrochromic Materials Market, by Product Type

  • Organic Dyes
  • Conducting Polymers
  • Metal Oxides

Global Electrochromic Materials Market, by Application

  • Automobile Rearview Mirrors
  • Smart Windows
  • Displays
  • Defense
  • Others

Global Electrochromic Materials Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

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  • Market segmentation up to the second or third level
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

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The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Electrochromic Materials Market

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