Research Frontiers Incorporated · NASDAQ:REFR
Research Frontiers — Investor Presentation (2000)
19 slides from Research Frontiers's investor presentation, 2000
Slide 1: 2000 Survey of United States Window Manufacturers on Switchable Glass
2000 Survey of United States Window Manufacturers on the Subject of Switchable Glass (SG) For more information, please contact: Gregory M. Sottile, Ph.D. Director or Market Development Research Frontiers Incorporated Sottile@SmartGlass.com www.SmartGlass.com Research Frontiers Incorporated 1
Slide 2: Summary of the Study's Methodology
Summary of the Study’s Methodology Contact list of U.S.-based window manufacturers obtained (SIC 344202) Companies contacted by telephone Respondent characteristics (screened): Executive, VP or Manager who is involved in new product development or product planning 2
Slide 3: Methodology (cont.)
Methodology (cont.) 174 randomly chosen window manufacturers contacted from master sample frame (493 companies) 50 completed interviews (28.7% response rate) Non-response bias addressed by weighting sample distribution by “annual sales” to reflect the distribution in the master sample frame Average
Slide 4: Representative Listing of Titles of Respondents
Representative Listing of Titles of Respondents Manager of Engineering and Product Design Engineer Quality Director of Product VP of Marketing and Management Planning Director of Engineering Marketing Manager Sales and Marketing Engineering Manager Manager President Director of R&D Product Manager D
Slide 5: Key Findings
Key Findings 5
Slide 6: Awareness of the Product Category and Specific SG Technologies
Awareness of the Product Category and Specific SG Technologies KEY F1. Overall Awareness of SG and Incidence LC: Rates of Awareness of Specific SG Technologies Liquid Crystal Overall 71.7% EC: Awareness Electrochromic LC 45.2% SPD: Suspended Particle Device EC 32.6% SPD 24.6% 0.0% 10.0% 20.0% 30.0%
Slide 7: Knowledge of Switchable Glass
Knowledge of Switchable Glass Respondents aware of SG were asked to share some of their existing knowledge of the product category. “1st mention” verbatim comments indicate: The knowledge base is centered around the use of an electrical current to change tint Knowledge of features of specific SG tec
Slide 8: Importance of Various Attributes of Switchable Glass to End-Users
Importance of Various Attributes of Switchable Glass to End-Users Respondents were read a brief paragraph describing SG for windows (selected elements listed below): - ability to electrically change tint - protection from UV damage - potential for enhanced privacy - improved security - reduction of
Slide 9: Importance of Various Attributes
Importance of Various Attributes F2. Importance of Various Switchable Glass Attributes to End-Users (1=Very Unimportant, 4=Very Important) Durable 3.8 Reduce glare and heat 3.5 Ability to be used with low-e 3.4 Control daylight 3.4 UV protection 3.3 Offer range of light tranmssion 3.3 Eliminates nee
Slide 10: Manufacturers' Interest in Offering SG Products to Residential Homeowners
Manufacturers’ Interest in Offering SG Products to Residential Homeowners F3. Manufacturers' Interest in Offering Switchable Glass Products to Residential Homeowners/Next 3 Years Very interested (4) 31.0% Somewhat interested (3) 20.1% Somewhat disinterested (2) 32.0% Very disinterested (1) 9.6% Unsu
Slide 11: Manufacturers' Interest in Offering SG Products to Commercial Developers
Manufacturers’ Interest in Offering SG Products to Commercial Developers F4. Manufacturers' Interest in Offering Switchable Glass Products to Commercial Developers/Next 3 Years Very interested (4) 29.0% Somewhat interested (3) 28.0% Somewhat disinterested (2) 19.1% Very disinterested (1) 12.4% Unsur
Slide 12: Median Expectations of U.S. Market Penetration of SG
Median Expectations of U.S. Market Penetration of SG F5. Projected Percentage of Windows Installed/Retrofitted in U.S. with SG by 2005 7.0% 6.2% 6.0% 5.0% 4.0% 3.6% 3.0% 2.0% 1.0% 0.0% Residential Commercial 12
Slide 13: Importance of Almost Instantaneous Tint Change: Residential Market
Importance of Tint Change That Is Almost Instantaneous: Residential Market F6. Importance of Tint Change That is Almost Instantaneous: Residential Market Very important 36.6% (4) Somewhat 26.8% important (3) Somewhat 29.4% unimportant (2) Very unimportant 7.2% (1) Unsure/DK 0.0% 0.0% 10.0% 20.0% 30.
Slide 14: Importance of Almost Instantaneous Tint Change: Commercial Market
Importance of Tint Change That Is Almost Instantaneous: Commercial Market F7. Importance of Tint Change That is Almost Instantaneous: Commercial Market Very important 16.6% (4) Somewhat 18.6% important (3) Somewhat 44.3% unimportant (2) Very unimportant 15.3% (1) Unsure/DK 5.2% 0.0% 10.0% 20.0% 30.0
Slide 15: Likelihood of Offering SG Windows at Various Levels of Incremental Cost
Likelihood of Offering SG Windows at Various Levels of Incremental Manufacturers’ Cost (per sf) F9. Likelihood of Offering SG Windows if Manufacturers' (Incremental) Price (per sf) Is: (Cumulative Distribution) 100.0% 88.6% 89.2% 90.0% 80.6% 80.0% 70.0% 60.0% 47.4% 50.0% 40.0% 30.0% 20.0% 13.5% 6.8%
Slide 16: Expected Pace of New Product Launches in U.S. Window Industry
Expected Pace of New Product Launches in U.S. Window Industry/Next 5 Years F10. Expected Pace of New Product Launches by Window Manufacturers/Next 5 Years Very strong 18.1% Somewhat strong 43.1% Somewhat weak 31.4% Very weak 0.6% Unsure/DK 6.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 16
Slide 17: Conclusions (cont.)
Conclusions (cont.) Awareness levels of the entire SG product category are strong but lag among specific SG technologies Knowledge levels primarily are limited to a set of product features (e.g. electrical interface, ability to change tint) Attributes important to end-users are highly functional 17
Slide 18: Conclusions (cont.)
Conclusions (cont.) Manufacturers’ interest in offering SG is strong and could increase as awareness and knowledge grow Expectations for SG market penetration are strong A tint change that is almost instantaneous is important, especially to residential end-users 18
Slide 19: Conclusions (cont.)
Conclusions (cont.) “First of its kind study” has value to window manufacturers and others affiliated with the fenestration industry or interested in SG Benchmark study can be used as a reference against which the results of future studies can be compared 19