Self-Healing Coatings Market

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

Report Code: CH 8660 May, 2023, by marketsandmarkets.com

Updated on : May 31, 2023

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

Self-Healing Coatings Market

To know about the assumptions considered for the study, Request for Free Sample Report

Self-Healing Coatings Market

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

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.

Self-Healing Coatings Market by Region

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.

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)
A total of 15+ players are covered.

Based on form, the self-healing coatings market has been segmented as follows:
  • Extrinsic
  • Intrinsic
Based on end-use, the self-healing coatings market has been segmented as follows:
  • Automotive
  • Aerospace
  • Building & Construction
  • Marine
  • Others
Based on the region, the self-healing coatings market 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):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

 
Table of Content
 
1 INTRODUCTION  
    1.1 OBJECTIVES OF STUDY 
    1.2 MARKET DEFINITION 
           1.2.1 MARKET INCLUSIONS
           1.2.2 MARKET EXCLUSIONS
    1.3 MARKET SEGMENTATION 
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED FOR STUDY
    1.4 CURRENCY 
    1.5 UNIT CONSIDERED 
    1.6 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY  
    2.1 RESEARCH DATA 
                    2.1.1.1 Secondary Data
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 MARKET GROWTH FORECAST APPROACH 
    2.4 FACTOR ANALYSIS 
    2.5 DATA TRIANGULATION 
    2.6 ASSUMPTIONS 
    2.7 LIMITATIONS 
    2.8 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 
    2.9 IMPACT OF RECESSION 
 
3 EXECUTIVE SUMMARY  
 
4 PREMIUM INSIGHTS  
 
5 MARKET OVERVIEW  
    5.1 INTRODUCTION 
    5.2 VALUE CHAIN ANALYSIS 
    5.3 MARKET DYNAMICS 
           5.3.1 DRIVERS
           5.3.2 RESTRAINTS
           5.3.3 OPPORTUNITIES
           5.3.4 CHALLENGES
    5.4 PORTER’S FIVE FORCES ANALYSIS 
           5.4.1 THREAT OF NEW ENTRANTS 
           5.4.2 THREAT OF SUBSTITUTES 
           5.4.3 BARGAINING POWER OF BUYERS 
           5.4.4 BARGAINING POWER OF SUPPLIERS 
           5.4.5 DEGREE OF COMPETITIVE RIVALRY
    5.5 KEY STAKEHOLDERS & BUYING CRITERIA 
    5.6 MACROECONOMIC INDICATORS 
           5.6.1 INTRODUCTION
           5.6.2 GDP TRENDS AND FORECAST
    5.7 KEY INDUSTRY TRENDS 
           5.7.1 TRENDS AND FORECAST IN END-USE INDUSTRY
    5.8 TECHNOLOGY ANALYSIS 
    5.9 CASE STUDY ANALYSIS 
    5.10 PRICING ANALYSIS 
           5.10.1 AVERAGE SELLING PRICE TREND BY REGION
           5.10.2 AVERAGE SELLING PRICE TREND BY FORM
           5.10.3 AVERAGE SELLING PRICE OF KEY PLAYERS, BY END USE
    5.11 TRADE DATA STATISTICS 
    5.12 GLOBAL ECONOMIC SCENARIO AFFECTING MARKET GROWTH 
           5.12.1 GLOBAL IMPACT OF SLOWDOWN/ IMPACT OF RECESSION 
                    5.12.1.1 North America
                    5.12.1.2 Europe
                    5.12.1.3 Asia Pacific
                    5.12.1.4 Rest of the World
    5.13 ECOSYSTEM AND INTERCONNECTED MARKET 
    5.14 TRENDS/DISRUPTION IMPACTING BUYERS/CUSTOMERS 
    5.15 TARIFFS & REGULATION LANDSCAPES AND STANDARDS 
    5.16 REGULATORY BODIES, GOVT. AGENCIES, AND OTHER ORGANIZATIONS 
    5.17 PATENT ANALYSIS 
           5.17.1 METHODOLOGY
           5.17.2 PUBLICATION TRENDS
           5.17.3 TOP JURIDICTION
           5.17.4 TOP APPLICANTS
    5.18 KEY CONFERENCES & EVENTS IN 2023-2024 
 
6 SELF-HEALING COATINGS MARKET, BY FORM – FORECAST TILL 2028  
    6.1 INTRODUCTION 
    6.2 EXTRINSIC 
    6.3 INTRINSIC 
 
7 SELF-HEALING COATINGS MARKET, BY END USE INDUSTRY – FORECAST TILL 2028  
    7.1 INTRODUCTION 
    7.2 BUILDING & CONSTRUCTION 
    7.3 AUTOMOTIVE 
    7.4 AEROSPACE 
    7.5 MARINE 
    7.6 OTHERS 
 
8 SELF-HEALING COATINGS MARKET, BY REGION – FORECAST TILL 2028  
    8.1 INTRODUCTION 
    8.2 EUROPE 
           8.2.1 IMPACT OF RECESSION IN EUROPE
           8.2.2 GERMANY
           8.2.3 UK
           8.2.4 FRANCE
           8.2.5 ITALY
           8.2.6 SPAIN
           8.2.7 TURKEY
           8.2.8 REST OF EUROPE
    8.3 ASIA PACIFIC 
           8.3.1 IMPACT OF RECESSION IN ASIA PACIFIC
           8.3.2 CHINA 
           8.3.3 INDIA
           8.3.4 JAPAN
           8.3.5 SOUTH KOREA 
           8.3.6 REST OF ASIA PACIFIC
    8.4 NORTH AMERICA 
           8.4.1 IMPACT OF RECESSION IN NORTH AMERICA
           8.4.2 US
           8.4.3 CANADA
           8.4.4 MEXICO
    8.5 MIDDLE EAST & AFRICA 
           8.5.1 IMPACT OF RECESSION IN MIDDLE EAST & AFRICA
           8.5.2 SAUDI ARABIA
           8.5.3 UAE
           8.5.4 REST OF THE MIDDLE EAST & AFRICA
    8.6 SOUTH AMERICA 
           8.6.1 IMPACT OF RECESSION IN SOUTH AMERICA
           8.6.2 BRAZIL
           8.6.3 REST OF THE SOUTH AMERICA
 
9 COMPETITIVE LANDSCAPE  
    9.1 OVERVIEW 
           9.1.1 OVERVIEWS OF STRATEGIES ADOPTED BY KEY PLAYERS
    9.2 COMPANY EVALUATION QUADRANT MATRIX , 2022 
           9.2.1 STARS
           9.2.2 PERVASIVE PLAYERS
           9.2.3 EMERGING LEADERS
           9.2.4 PARTICIPANTS
    9.3 STRENGTH OF PRODUCT PORTFOLIO 
    9.4 MARKET RANKING ANALYSIS 
    9.5 MARKET SHARE ANALYSIS 
    9.6 TOP 5 KEY PLAYERS REVENUE ANALYSIS 
    9.7 COMPETITIVE BENCHMARKING  
    9.8 COMPETITIVE SCENARIO 
           9.8.1 MARKET EVALUATION FRAMEWORK
           9.8.2 MARKET EVALUATION MATRIX
    9.9 STRATEGIC DEVELOPMENTS (COMPETITIVE SITUATIONS AND TRENDS) 
           9.9.1 DEALS
           9.9.2 PRODUCT LAUNCHES  
           9.9.3 OTHER DEVELOPMENTS 
 
10 COMPANY PROFILE   
     10.1 KEY PLAYER 
             10.1.1 AKZONOBEL N.V.
             10.1.2 BASF SE
             10.1.3 COVESTRO AG
             10.1.4 AUTONOMIC MATERIALS, INC
             10.1.5 FEYNLAB INC
             10.1.6 GVD CORPORATION
             10.1.7 NEI CORPORATION
             10.1.8 SHAWCOR
             10.1.9 SOLVAY
             10.1.10 WINN AND COALES INTERNATIONAL
             10.1.11 REVIVIFY CANADA, INC
             10.1.12 NATOCO CO., LTD
     10.2 OTHER COMPANIES 
 
11 APPENDIX  

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:

Self-Healing Coatings Market Size, and Share

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

Self-Healing Coatings Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Self-Healing Coatings Market Size: Top-Down Approach

Self-Healing Coatings Market Size, and Share

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
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Request Customization
Report Code
CH 8660
Published ON
May, 2023
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Self-Healing Coatings Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2023 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback