COVID-19 Impact on Electrochromic Polymers Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the electrochromic polymers market.
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Key Drivers of Electrochromic Polymers Market
- Increase in usage of electrochromic polymers in the automotive industry is the major driver of the electrochromic polymer market. The automotive sector holds potential for growth in terms of demand for electrochromic polymers, which are used in glass and films. Smart glass is used in doors, windows, sunroofs, and rear mirrors.
- Smart glass is extensively used for sunroofs. It offers cost-saving benefits and superior control over light and heat emission, thus reducing the consumption of the air-conditioning units by maintaining the car’s cabin temperature. This lowers cooling and lighting costs of the vehicle.
Electrochromic Polymers Market: Product Type
- Based on product type, the electrochromic polymers market can be divided into viologens, conducting polymers, metal oxides, Prussian Blue, and others
- Viologens have received persistent attention due to their structural versatility and property tunability and are major active electrical components for most of the marketed EC devices. Over the past two decades, extensive efforts have been made to design and synthesize different types of viologen-based materials with enhanced EC properties.
- Conducting polymer coating is used to increase the stability and efficiency of solar cells. It has enabled the design of lightweight, efficient, and compact electronic components. Increase in focus on environmental sustainability and decrease in costs of energy generation are expected to accelerate the adoption of renewable energy in the near future. This is anticipated to drive the market. However, high cost of production, including that of manufacturing processes and raw materials, is anticipated to hinder the market during the forecast period. On the contrary, surge in demand for electric vehicles across the globe due to the implementation of stringent environmental regulations to reduce air pollution and the dependency on conventional fuels is anticipated to provide lucrative opportunities for the electrochromic polymers market in the near future. Conductive polymers are widely used in EV components such as capacitors, batteries, and sensors. This is fuelling their demand, thereby boosting the electrochromic polymers market.
Electrochromic Polymers Market: End-use
- In terms of end-use, the global electrochromic polymers market can be classified into automotive, electrical and electronics, building & construction, aerospace & defense, and others
- Automotive industry holds the major share of electrochromic polymers, which are mainly used in glass and films. Glass is used in doors, windows, sunroofs, and rear mirrors.
- Electrochromic polymers are attractive materials with significant potential in the rapidly developing area of electrical & electronics due to their flexibility, low-power consumption, ease of processing, and low processing cost
Asia Pacific to Hold Leading Share of Electrochromic Polymers Market
- In terms of region, the electrochromic polymers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific is expected to hold major share of the electrochromic polymers market, followed by Europe and North America, during the forecast period
Key Manufacturers Operating in Electrochromic Polymers Market
Key manufacturers operating in the electrochromic polymers market include:
- ChromoGenics
- EControl-Glas GmbH & Co. KG
- GENTEX CORPORATION
- Hitachi Chemical Co., Ltd.
- Nikon Corporation
- Ningbo Miro Electronic Technology
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