Self-Healing Coatings Market by Form (Extrinsic, Intrinsic), End-use industry (Automotive, Building and construction, Aerospace, Marine) and Region (Asia Pacific, Europe, North America, South America, and MEA) – Global Forecast to 2028
Self-Healing Coatings Market
Self-Healing Coatings Market was valued at USD 2.4 billion in 2023 and is projected to reach USD 10.4 billion by 2028, growing at a cagr 34.2% from 2023 to 2028. Automotive and marine industries make extensive use of self-healing coatings. Its market is increasing rapidly as a result of expanded application areas, technical advancements, and rising demand in Europe. The burgeoning building and construction business, as well as increasingly demanding structural integrity rules, are driving demand for self-healing coatings. The necessity to prolong the lifespan of structures in order to comply with structural integrity rules and to gradually tighten material science regulations on a worldwide basis is driving the rise. However, the high manufacturing costs limit the increase in demand for self-healing coatings.
Attractive Opportunities in Self-Healing Coatings Market
To know about the assumptions considered for the study, Request for Free Sample Report
Self-Healing Coatings Market Dynamics
Driver: Self-healing coatings are frequently used in the automobile industry due to their ability to repair physical damage or restore functional performance with little or no intervention. The capacity of coatings to self-heal is especially important in the automobile sector, where cars are subjected to extreme climatic conditions and mechanical damage. Self-healing coatings can endure tiny scratches and prevent corrosion, lowering maintenance costs and increasing the life of the coating. Furthermore, self-healing coatings may intelligently adapt to mechanical or chemical damage produced by the external environment and replicate their previous qualities, such as adherence to the substrate and integrity. The application of self-healing nanocoating’s in automobiles can make mobility significantly healthier and increase vehicle performance.
Restraints: Self-healing coatings are currently very expensive. Many of the processing production and procedures are experimental. It is not known which approaches will prove to be commercially viable at this stage or which will meet a consumer need. Consumers are skeptical of new technologies, especially at a premium when the functionality is not instantly visible, or the benefits are not obvious. Limited repeatability of encapsulation products is another commercial barrier; consumers would be reluctant to pay a premium for a product that will not keep performance.
The crucial aspect is that the consumer views the technology advantage as value for money at the moment of purchase. As new technologies prepare to reach the market, the application must be adequately planned. It is critical that the scope of application broadens, and that additional cross-disciplinary research be conducted in automotive, building and construction, marine, and even aerospace to investigate the possibilities of self-healing coatings. Due to the intricacy of its production process, intrinsic self-healing coatings are more expensive than extrinsic self-healing coatings. Intrinsic self-healing coatings are designed to have the healing agent integrated into the coating matrix, requiring a more sophisticated manufacturing process than extrinsic self-healing coatings, which have the healing agent added to the coating after it has been applied. Furthermore, intrinsic self-healing coatings need a larger concentration of healing chemicals, which raises their cost. However, intrinsic self-healing coatings have the benefit of being more robust and long-lasting than extrinsic self-healing coatings, making them more appealing for applications requiring long-term protection.
Opportunity: Because of its capacity to repair scratches and resist corrosion, self-healing coatings are gaining popularity in the automobile industry, lowering maintenance costs and increasing the longevity of vehicle coatings. Transparent protective coatings for automobiles that can self-heal in 30 minutes under sunlight have been created by researchers, revealing the potential for self-healing coatings in the automotive sector. Self-healing coatings are also applicable to electrical equipment and building materials, giving them a versatile option for a variety of transportation applications. In vehicles, the application of self-healing nanocoating’s can increase mobility and performance. The development of self-healing polymeric coatings might reduce the amount of money that car operators must spend on maintenance, making them an appealing alternative for the automotive industry.
Challenges: The economics of the self-healing coatings business are extremely complicated due to the large variety of variables in the relatively new value and production chains. Larger firms are more likely to understand the value chain and position themselves than small and medium-sized enterprises (SMEs).
In many circumstances, there are evident economic constraints for self-healing coatings production processes, such as operating expenses, R&D expenditures, and investments. For certain self-healing coatings, the technology does not yet exist (or has not yet been commercialized), or the creation of a self-healing coatings manufacturing method is not cost-effective due to the high costs involved with the manufacture of traditional materials. Self-healing coatings require specialized equipment and knowledge to make, which small businesses may not have. Furthermore, self-healing coatings need stringent quality control methods to guarantee that the healing agents are spread uniformly throughout the coating, which can be difficult for small businesses to do.
Self-Healing Coatings Market Ecosystem
Based on form, the extrinsic segment is estimated to account for the largest market share of the self-healing coatings market
Because they are more successful, extrinsic self-healing coatings account for a higher part of the market. Despite substantial damage to the substrate, extrinsic self-healing materials can achieve healing efficiencies in excess of 100%. Extrinsic systems segregate healing chemistries from the surrounding polymer in microcapsules or vascular networks, which release their substance into the crack plane, reacting and allowing material functions to be restored. These systems can be further classified into capsule-based and vascular systems.
Based on end-use, the automotive segment is anticipated to dominate the market
Self-healing coatings have several helpful features and applications in the automotive end-use sector. They improve the structural, thermal, and electrical qualities of the substrate and help to imitate a metallic-like look when replacing chrome-plated painted surfaces. Nanoparticles are used as fillers in self-healing coatings and are mixed into a polymeric matrix. Metallic nanoparticles and nanostructured carbons are the most often employed fillers in conductive self-healing coating compositions today. The type of nanomaterial utilized determines the conductive qualities of these coatings, such as electric conductivity, corrosion inhibition, and scratch resistance. Graphene and zinc are common nanoparticles utilized in such coatings because they have low electrical resistance and self-healing capabilities.
The Europe market is projected to contribute the largest share of the self-healing coatings market.
In terms of self-healing coatings sales, Europe is the largest market, accounting for 49.1% of the worldwide market in terms of value in 2023. The automotive and marine end-use categories fuel the region's need for self-healing coatings. Because of the strong efforts of different regulatory agencies to strengthen the structural integrity of car vehicles, the area is at the forefront of the self-healing coatings industry. The financial crisis has had a huge impact on European manufacturing companies, which are currently recuperating, leading to slower demand for self-healing coatings.
To know about the assumptions considered for the study, download the pdf brochure
Self-Healing Coatings Market Players
Autonomic Materials, Inc (US), Covestro AG (Germany), AkzoNobel N.V. (The Netherlands), BASF SE (Germany), Feynlab Inc (US), GVD Corporation (US), 3M Company (US), Shawcor Ltd (Canada), Winn & Coales (Denso) Ltd (UK), and Revivify Canada, Inc (Canada) are the key players operating in the global market.
Please visit 360Quadrants to see the vendor listing of Top paint and coating companies
Self-Healing Coatings Market Report Scope
|
Report Metric |
Details |
|
Market size available for years |
2021-2028 |
|
Base year considered |
2022 |
|
Forecast Period |
2023-2028 |
|
Forecast Units |
Value (USD Billion) |
|
Segments Covered |
By Form, By End-Use, By Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Companies covered |
Autonomic Materials, Inc (US), Covestro AG (Germany), AkzoNobel N.V. (The Netherlands), BASF SE (Germany), Feynlab Inc (US), GVD Corporation (US), 3M Company (US), Shawcor Ltd (Canada), Winn & Coales (Denso) Ltd (UK), and Revivify Canada, Inc (Canada) |
Based on form, the self-healing coatings industry has been segmented as follows:
- Extrinsic
- Intrinsic
Based on end-use, the self-healing coatings industry has been segmented as follows:
- Automotive
- Aerospace
- Building & Construction
- Marine
- Others
Based on the region, the self-healing coatings industry has been segmented as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Recent Developments
- In December 2021, the company launched AMP-UP RB a self-healing, low-VOC protective solution for rebar and structural metals embedded in concrete. Built on Autonomic Materials Inc’s ground-breaking corrosion-inhibiting technology platform, AMP-UP RB was explicitly designed for long-term corrosion protection of structural metals embedded in concrete during new construction and concrete repair.
Frequently Asked Questions (FAQ):
What is the current competitive landscape in the self-healing coatings market in terms of new applications, production, and sales?
Various major, medium-sized, and small-scale business firms operate in the industry on a global basis. Numerous companies are always inventing and producing new items, as well as moving into developing regions where demand is increasing, resulting in increased sales.
Which countries contribute more to the self-healing coatings market?
US, UK, Canada, and Germany are major countries considered in the report.
What is the total CAGR expected to be recorded for the self-healing coatings market during 2023-2028?
The CAGR is expected to record 34.2% from 2023-2028
Does this report cover the different forms of the self-healing coatings market?
Yes, the report covers the different forms of self-healing coatings.
Does this report cover the different end-use of self-healing coatings?
Yes, the report covers different end-use of self-healing coatings. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the current size of the self-healing coatings market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering self-healing coatings information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the self-healing coatings market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the self-healing coatings market scenario through secondary research. Several primary interviews were conducted with market experts from both, the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interview. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, product development/innovation teams, and related key executives from self-healing coatings vendors; raw material suppliers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to form, end-use, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, and installation teams of the customer/end users who are using self-healing coatings were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of self-healing coatings and future outlook of their business which will affect the overall market.
The Breakup of Primary Research:
To know about the assumptions considered for the study, download the pdf brochure
|
CoMPANY NAME |
DESIGNATION |
|
Autonomic Materials, Inc |
Director |
|
Covestro AG |
Project Manager |
|
AkzoNobel N.V. |
Individual Industry Expert |
|
BASF SE |
Director |
Market Size Estimation
The research methodology used to estimate the size of the self-healing coatings market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in the end-use industries at a regional level. Such procurements provide information on the demand aspects of self-healing coatings.
Global Self-Healing Coatings Market Size: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Global Self-Healing Coatings Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Self-healing coatings are a type of coatings that repair their bulk integrity or functional properties without any external physical intervention. The autonomous healing ability is usually achieved by embedding extrinsic polymerizable healing agents in the coating. In this system healing agents are mostly stored in microcapsules and released when the coating is damaged, which then polymerizes to fill the damage or form a protective film that inhibits the electrochemical reactions occurring at the exposed metal substrate.
Key Stakeholders
- End User
- Raw Material Suppliers
- Senior Management
- Procurement Department
Report Objectives
- To define, describe, segment, and forecast the size of the self-healing coatings market based on form, end-use, and region.
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, South America, Middle East & Africa, along with major countries in each region
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the self-healing coatings market
- To analyze technological advancements and product launches in the market
- To strategically analyze micro markets, with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the self-healing coatings market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the self-healing coatings Market
Growth opportunities and latent adjacency in Self-Healing Coatings Market