Chicago, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Global 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 as per the recent study by MarketsandMarkets™. Self-healing coatings are in great demand because of the enormous expansion of the automotive and marine industries in North America and Europe. Qualified labour and advanced technical requirements hinder the self-healing coatings business. The key reasons for providing market participants with development opportunities include new building activities, the need for self-repairing coatings, and growing investment in emerging nations and less regulated places. However, the adoption of new technologies and the unpredictability of raw material pricing are the major roadblocks for industry participants.
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Browse in-depth TOC on "Self-Healing Coatings Market”
103 - Market Data Tables
42 - Figures
168 - Pages
List of Key Players in Self-Healing Coatings Market:
- 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),
- Revivify Canada, Inc (Canada)
Key Findings of the Study:
- The extrinsic form segment is expected to account for the largest share in 2023.
- The aerospace segment is expected to account for the second-largest share in 2023.
- Europe is expected to account for one of the largest shares in 2023.
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Asia Pacific region has a wide range of economies with varying levels of economic development and a wide range of industries. Because of the growing number of smart cities in China, South Korea, and India, the Asia Pacific self-healing coatings market is likely to rise at a rapid rate during the forecast period. This area has a wide range of economies with varying levels of economic development and a wide range of industries. Manufacturing, semiconductors, electronics, vehicles, oil and gas, and telecommunications are among the important sectors in this region. The huge upper-middle-class population with disposable cash to spend on consumer products drives the automotive and transportation industries and provides potential for self-healing coatings. This region's self-healing coatings market is being driven by the automotive, electronics, and oil and gas sectors. Furthermore, the most technologically advanced countries, such as China, Japan, South Korea, and India, are tirelessly trying to introduce new technologies, such as self-healing coatings based on various nanotechnologies.
The self-healing coatings market is categorized based on end-use as automotive, aerospace, marine, building & construction, and others. Self-healing is a class of technology that is able to fix itself when there is a problem. These coatings can heal micro-stresses such as small cracks. They can greatly improve the lifespan of the material. It is also possible for self-healing coatings to prevent undercut adhesion loss when damage occurs. Self-healing additives provide dynamic functionality to coatings by regenerating critical protective properties in the damaged area of the coating. Self-healing coatings provide value for a wide range of applications like automotive, building & construction, marine, aerospace, oil & gas, industrial maintenance, military, machinery/equipment, alternative energy, consumer and to name a few.
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The self-healing coatings market is segmented based on form into intrinsic, and extrinsic. extrinsic form of self-healing coatings is the largest employable segment. These are considered autonomic which are further classified according to the type of storage vessels used. The different types of extrinsic self-healing mechanisms are Capsule-based self-healing (2k Capsule-based, Capsule + Catalyst), Vascular Network self-healing (2k Vascular, Vascular + Catalyst), and Dissolved Healing Agent.
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