Dublin, June 23, 2023 (GLOBE NEWSWIRE) -- The "Self-Healing Coatings Market - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global self-healing coatings market size is projected to grow from USD 2.4 billion in 2023 to USD 10.4 billion by 2028, at a CAGR of 34.2%, between 2023 and 2028.
The need for self-healing coatings is increasing for a variety of reasons. Firstly, standard coatings have a limited lifespan, and their fundamental qualities deteriorate with age, necessitating periodic maintenance and replacement. Self-healing coatings can repair physical damage or restore functional performance with little or no intervention, lowering maintenance costs and increasing coating life.
Second, self-healing coatings have a wide range of applications in the construction sector because of their lightweight, chemical and physical consistency, and production capabilities. Third, a crucial aspect contributing to the attraction of self-healing coatings is their capacity to self-repair local damage induced by external sources.
Furthermore, self-healing coatings, which may be created from a number of materials, including classic organic polymers and innovative inorganic materials, can prevent corrosion inhibitor failure. Finally, self-healing coatings are considered an alternative route for efficient anti-corrosion protection while maintaining a low demand for maintenance.
The intrinsic form type segment is expected to register the highest CAGR during the forecast period.
The concept of intrinsic self-healing coatings is considered more competitive in terms of manufacturing and applications because the intrinsic healing ability is conferred to the polymer matrix.
Thermoset polymer matrices with intrinsic healing capability have the advantage of multiple healing cycles as long as damage to the reinforcement fibers is not excessive or highly localized. Intrinsic self-healing systems are obtained through the modification of the polymeric matrix structure (crosslinking density, aromatic chains, crystallinity, for instance) or by the modification of the polymeric matrix through adding a thermoplastic modifier, obtained by a miscible or immiscible thermoplastic/thermoset blend.
The marine segment in end-use is expected to register one of the highest CAGR during the forecast period.
Self-healing coatings represent a well-established protection system that provides a barrier between a metallic substrate and the environment. The development of a smart coating for the protection of metallic structures in marine and offshore applications is critical. The use of self-healing epoxy as an organic coating for metallic substrates is suitable.
The self-healing epoxy is obtained by mixing Diels-Alder (D-A) adducts with a commercial diglycidyl ether of bisphenol-A (DGEBA) monomer. These coatings show good recovery and are assessed through morphological observation, spectroscopic analysis, and mechanical and nanoindentation tests. The complete self-healing procedure of epoxy-based system allow for the recovery of the protective efficiency of the coating against corrosion in the saline solution.
Middle East & Africa self-healing coatings market is estimated to register one of the highest CAGR during the forecast period.
The nations under consideration include Saudi Arabia, South Africa, and the remainder of the Middle East and Africa. Because this region has 20% of the world's population, major residential construction is required.
This demand, along with an expanding middle-class population, is expected to lead to modest growth in the coatings industry. Middle Eastern economic growth is essential to the development of commercial opportunities in the Gulf Cooperation Council (GCC). The bulk of Arab and African nations have made large investments in the construction sector.
This is done to diversify their economy away from oil and associated enterprises and towards other industrial sectors. However, fluctuations in oil prices and geopolitical tensions are projected to have only a minimal influence on the rate of growth.
Competitive landscape
The key companies profiled in this report are 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), and others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 164 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.4 Billion |
| Forecasted Market Value (USD) by 2028 | $10.4 Billion |
| Compound Annual Growth Rate | 34.2% |
| Regions Covered | Global |
Premium Insights
- Self-Healing Coatings Market to Witness High Growth During Forecast Period
- Intrinsic to be Faster-Growing Segment Between 2023 and 2028
- Developed Countries to Witness Higher Growth During Forecast Period
- China Accounted for Largest Market Share
- UK to Emerge as Lucrative Market for Self-Healing Coatings
Market Dynamics
Drivers
- Increasing Automobile Production
- Technological Advancements in Self-Healing Coatings
Restraints
- High Cost of Self-Healing Coatings Compared to Conventional Materials
Opportunities
- Growing Investments in Various End-Use Industries in Emerging Economies
- Potential Uses in Applications Requiring Reliability and Durability
Challenges
- Adoption of New Technologies
- Securing Profitability and Competitiveness
- Scaling Up from Pilot Scale to Industrial Scale Production
Macroeconomic Indicator Analysis
- GDP Trends and Forecast
- Trends and Forecast of the Global Construction Industry
- Trends in Automotive Industry
- Trends in Aerospace Industry
Global Economic Scenario Affecting Market Growth
- Russia-Ukraine War
- China
- China's Debt Crisis
- Australia-China Trade War
- Environmental Commitments
- Europe
- Energy Crisis in Europe
Company Profiles
Major Players
- Autonomic Materials Inc.
- Akzonobel N.V.
- Basf Se
- Covestro Ag
- Feynlab Inc.
- Gvd Corporation
- 3M
- Shawcor Ltd.
- Winn & Coales (Denso) Ltd.
- Revivify Canada, Inc.
Other Players
- Natoco Co., Ltd.
- Adler Coatings Group
- Effco Finishes & Technologies Pvt Ltd.
- Nei Corporation
- Krishna Conchem Products Pvt. Ltd.
- Ishine Auto Spa LLC
For more information about this report visit https://www.researchandmarkets.com/r/coki3v
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