Smart Glass Market 2021 Latest Trends, Demand, Growth, COVID-19 Impact,
Opportunities & Outlook till 2028
The global smart glass market size was valued at USD 4.5 billion in 2020 and is expected to expand
at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. The emergence of energy-
conservation initiatives, such as green buildings and eco-friendly structures, globally is expected to
offer promising growth prospects to the market. Administrative support through financial benefits
and tax initiatives globally is also stimulating the growth of the market. For instance, the European
banks have a new mortgage scheme for green homes, encouraging end-users to adopt energy-saving
products, such as smart glass. Smart glass has gained traction in recent years due to its energy-saving
properties, thermal and acoustic insulation, and elegant 3D design proposition.
In addition, the replacement and renovation activities are expected to drive the demand for smart
glass across the globe. The Department of Energy (DoE) estimates that there are approximately 19
million square feet of installed residential windows in the U.S. alone and approximately 500 million
square feet of windows are installed in the commercial sector, out of which most buildings are
constructed prior to the implementation of the ASHRAE standards, which address areas such as
thermal comfort, indoor air quality, and energy conservation in buildings. Retrofitting of such
buildings is expected to provide a significant growth opportunity for the market in the U.S. alone.
Key Player Mentioned:
Kinestral Technologies, Inc.
Nippon Sheet Glass Co., Ltd.
PPG Industries, Inc.
Research Frontiers Inc.
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Product Segment Analysis: