Suspended Particle Device Glass Market - Forecast(2023 - 2028)

Suspended Particle Device Glass Market Overview

The Suspended Particle Device Glass market size is forecast to reach US$4.2 billion by 2027 after growing at a CAGR of 11.5% during the forecast period 2022-2027. In suspended particle devices, a thin film of nanoparticles is suspended in a matrix. This matrix is coated between two sheets of polyethylene terephthalate, that are coated with indium tin oxide. This film is then laminated between two pieces of glass or polycarbonate. When no voltage is applied, the suspended nanoparticles are randomly organized, and block light. When voltage is applied, the suspended particles align and allow light to pass through. Varying the voltage of the film varies the orientation of the suspended particles, thereby regulating the tint of the glazing and the amount of light transmitted. The growing interest in smart windows acts as a driver for the suspended particle device glass market.

Suspended Particle Device Glass Market COVID-19 Impact

The COVID-19 pandemic had a severe impact on several industries including the glass industry. The pandemic hit the global manufacturing sector hard. Many manufacturers had to stop operations to comply with stay-at-home mandates and lockdowns. The manufacturing of glass has also come to halt. Once economic activities resumed, glass manufacturers faced challenges in the form of lack of raw materials, shipping container shortages, low demand, and supply chain issues. According to Glass Alliance Europe, overall glass production reached a volume of 35.85 million tons, a decrease of 2.6% compared to 2019. Soda ash, one of the raw materials used to manufacture glass, was in severe shortage leading to a very sharp price hike. In the last quarter of 2020, there was a huge demand for vaccine vials which benefitted the manufacturers of type I glass. Pharmaceutical glass manufacturers ramped up production to manufacture millions of glass vials for the COVID-19 vaccines, thereby making an important contribution to stopping the pandemic.

Report Coverage

The report: “Suspended Particle Device Glass Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the suspended particle device glass industry.

By Application: Architectural Windows & Doors, Skylights, Facades, Partitions, Sunroof, Mirrors, Cabins, and Others.
By End Use Industry: Building & Construction (Residential- Private Dwellings, Row Houses, Apartments; and Commercial- Educational Institutes, Hotels, Restaurants, and Cafes, Sports Stadiums, Airports, Office Buildings, Shopping Malls & Supermarkets, Hospitals, Clinics and Healthcare Institutes, and Others), Transportation (Automotive, Aerospace, Marine, and Locomotive), and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa) 

Key Takeaways

• North America dominates the suspended particle device glass market on account of the growing end-use industries in the region. 
• In suspended particle device glass, a thin film laminate of rod-shaped nanoparticles is suspended in a liquid matrix and placed between two pieces of glass or polycarbonate. 
• Suspended particle device glass technology has significant benefits over fixed tinted windows and preceding glass tinting technologies such as its ability to rapidly change to the desired transparency level (clear to dark) within a few seconds, its ability to be used in polycarbonate or glass, and its ability to be applied to curved surfaces. 
• The major opportunity for this market is high research spending to explore other applications where suspended particle device glass can be used.

Figure: North America Suspended Particle Device Glass Market Revenue, 2021-2027 (US$ Billion)

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Suspended Particle Device Glass Market Segment Analysis – By Application

The architectural windows and doors segment held the largest share in the suspended particle device glass market in 2021. Suspended particle device consists of a polymer layer such as polyethylene terephthalate, containing a large number of light-absorbing and polarizable nanoparticles, between two sheets of glass or plastic, coated with indium tin oxide. The optical transmittance of the suspended particle device can be adjusted either automatically or adjusted manually with remote control. When electricity is applied, the indium tin oxide conductive coating forces the particles in the chemical layer of the film to align, creating transparency. When suspended particle device glass is used in windows shades and cools interiors, blocking up to 99% of incoming sunlight within seconds of shifting voltage, helps reduce cooling costs. According to the US Department of Energy, more than $29 billion in electricity is consumed by residential air conditioning in the US, which accounts for 6% of all electricity produced in the country. Using suspended particle device glass in windows can help reduce air conditioning costs. Therefore, the architectural windows and doors segment is anticipated to dominate the suspended particle device glass market.

Suspended Particle Device Glass Market Segment Analysis – By End-Use Industry

The building and construction segment held the largest share in the suspended particle device glass market up to 40% in 2021 on an account of increasing construction activities. As per data from the Associated General Contractors of America, private residential construction spending rose 0.7% in December 2021 from November 2021 and 12.7% from December 2020. For the entire 2021, residential construction spending jumped 23.2% from 2020. Suspended particle device glass is used for windows, glass doors, glass walls, and partitions because it is modern, convenient, and easier to clean than traditional window treatments. A suspended particle device can block up to 99% of light, making it ideal for custom shading. The switching speed is up to 3 seconds, which is significantly faster than other active glass technologies. Because of its shading capabilities, suspended particle device glass is used in architecture as it can contribute to LEED certification, making projects greener and more energy-efficient. It is ideal for exterior glass such as skylights and facades. Suspended particle device glass is durable. It can withstand elements such as humidity and excessive cleaning and high-volume use. It is ideal for both new construction and renovation projects in which glass can be replaced. Hence, the building and construction segment is expected to dominate the suspended particle device glass market during the forecast period.

Suspended Particle Device Glass Market Segment Analysis – By Geography

North America held the largest share in the suspended particle device glass market in 2021 up to 35% owing to the well-established construction and automotive industries in the region. After the pandemic slump, the construction industry has been on a recovery path since 2021. The trend in the construction industry is green buildings. The US tops the list of the number of green buildings in the world. The number of Leadership in Energy and Environmental Design (LEED) certified projects is going up. LEED certification is the most widely used green building certification in the world. According to data from the US Green Building Council, the US is the leading country, globally, with 1171 LEED-certified buildings in 2021. Canada and Mexico featured in the top 10 list of countries and regions outside the United States that are making significant strides in sustainable building design, construction, and operations. Canada ranked second and Mexico ranked ninth on the list in terms of the total number of LEED projects between Jan. 1 and Dec. 31, 2021. The rising interest in green buildings in the region leads to an increased demand for smart windows. Therefore, this region is expected to dominate the suspended particle device glass market.

Suspended Particle Device Glass Market Drivers

Growing Interest in Smart Windows

Smart windows are technologically advanced glass that incorporate and support glazing which can change the optical power on providing a voltage signal. Smart windows consist of smart glass layers fitted with films. They use light-sensitive suspended particle devices or removable coatings. Smart windows can be used in hospitals to provide privacy by darkening. Using smart windows can eliminate the usage of curtains and drapes. Currently, due to the pandemic, hygiene has become a concern, especially in hospitals. According to the Center for Disease Control and Prevention, every day about 1 in 31 hospital patients contracts hospital-acquired infection. The European Centre for Disease Prevention and Control estimates that 4.13 million patients are affected by approximately 4.54 million episodes of healthcare-associated infection every year in Europe. As the coronavirus is airborne, it can settle on surfaces and remain viable for long. Glass is easier to disinfect compared to drapes and curtains. Smart windows are used in commercial buildings to reduce energy usage and also to create privacy in conference rooms. Thus, the growing interest in smart windows acts as a driver for the suspended particle device glass market.

Increasing Sales of Electric Vehicles (EVs)

According to data from International Energy Agency (IEA), in 2019, 2.2 million electric cars were sold, representing 2.5% of global car sales. In 2020, the overall car market contracted but electric car sales rose to 3 million and represented 4.1% of total car sales. In 2021, electric car sales grew exponentially to 6.6 million and represented approximately 9% of the global car market. As evident from the data, the market share of EVs more than tripled compared to 2019. Suspended particle device glass can be used in EV sunroofs and other glass applications and turn it from transparent to opaque, and block the infrared and ultraviolet light from heating up the interiors and damaging the leather upholstery. The film attaches to the inside of the sunroof or window. AC compressors use a lot of energy. On average, 18% and 14% of the battery’s energy capacity is allocated to heating and cooling requirements, respectively. According to the IEA, in electric vehicles, air conditioning can reduce driving range by up to 50% on hot and humid days. Using suspended particle device glass in sunroofs, sun visors and windows can help reduce the interiors from heating up. As a result of the cooler cabin temperature, there is reduced reliance on the air conditioning (AC) system to keep things comfortable. Less AC usage translates to less electricity used by the compressor, and thus, more power available for an overall driving range. A study by Bentley showed that as much as 13 pounds can be saved by replacing a motorized glass sunroof and shade with a fixed piece of suspended particle device glass, which helps in light-weighting and further increases the efficiency of the EV. Therefore, the increasing sales of EVs drive the suspended particle device glass market.

Suspended Particle Device Glass Market Challenges

Availability of Cheaper Alternatives

Smart glass technologies include photochromic, thermochromic, electrochromic, suspended particle device and liquid crystal device technologies. Smart glass technologies fall into two categories, passive technologies, and active technologies. Passive smart glass technologies respond to non-electrical stimuli and cannot be controlled manually. These technologies include thermochromic, which reacts to heat, and photochromic, which respond to light. Active smart glass technologies respond to an electrical stimulus and are can be controlled by the user. They include electrochromic, suspended particle device, and polymer dispersed liquid crystal technologies. Electrochromic materials change color when an electrical current is applied. Applying a charge activates ions in an electrolyte layer, which causes the electrochromic layer to change from dark to transparent. Polymer dispersed liquid crystal technology uses a layer of LCD crystals sandwiched between conductive layers. The cost of polymer-dispersed liquid crystal per sq. ft. is around $70-$100, that of electrochromic is between $50 to $60, and whereas suspended particle device glass costs approximately $120-$150. Having many cheaper alternate technologies available in the market may prove to be a challenge for the suspended particle device glass market.

Global Suspended Particle Device Glass Industry Outlook

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the suspended particle device glass market. suspended particle device glass market top 10 companies are:

1. Showa Denka Materials Co. Ltd.
2. Research Frontiers
3. Hitachi Chemicals
4. Nippon Sheet Glass
5. Active Glass Technologies
6. Gauzy Ltd
7. Asahi Glass Co. Ltd
8. ChromoGenics
9. VELUX Danmark A/S
10. Schott Corporation

Recent Developments

• In February 2022, material science company, Gauzy Ltd., acquired France-based, Vision Systems.
• In June 2019, Vision Systems, a licensee of Research Frontiers, unveiled its suspended particle device-smart glass dimmable window solutions for the cruise industry.
• In February 2019, Gauzy Ltd. announced its second production facility in Stuttgart, Germany that produces suspended particle device-smart light control film for the entire suspended particle device-smart glass industry, including automotive and architectural applications. 

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