Environmental Concerns Drive Adoption of Eco-Friendly Self-Healing Coatings
Category: Chemicals & Materials Published Date : Sep-23 ID: CVC0165 Format: PDF Pages: 300
Self-healing Coatings Market Outlook
As per rigorous research by ChemView Consulting, our analysts forecast that the global self-healing coatings market is expected to reach a valuation of US $8,774.8 million and will grow at a 15.7% CAGR during the period of 2023–2033.
Key Findings on the Self-healing Coatings Market
1. Which is the largest market for self-healing coatings?
The biggest market for self-healing coatings is Europe. As per our analysis, Europe holds nearly 31.1% share of the self-healing coatings market.
2. What is the largest end-use industry segment within the self-healing coatings market?
As per Chem View Consulting, the largest segment by end-use industry is automotive. As per our analysis, this segment accounts for nearly 37% of total revenues.
3. At what rate is the self-healing coatings market expected to grow?
The self-healing coatings market is expected to grow at a CAGR of 15.7% during the period 2023–2033.
4. What are the major trends influencing the self-healing coatings market?
5. Who are the leading players in the self-healing coatings market?
The key companies in the self-healing coatings market are Autonomic Materials, Inc., AkzoNobel N.V., Feynlab Inc., BASF SE, GVD Corporation, Shawcor Ltd., Winn & Coales (Denso) Ltd., 3M Company, Revivify Canada, Inc., Apex Auto Care, Arkema SA, Avecom N.V., Sensor Coating Systems Ltd., Nippon Paint Holding Co., Ltd., Berger Paints India Ltd., PPG Industries, Axalta Coatings System LLC, and HMG Paints Limited.
Key Drivers for Self-healing Coatings Demand
Key Challenges Inhibiting Demand for Self-healing Coatings
Key Challenges & Opportunities for Self-healing Coatings Manufacturers
US Self-healing Coatings Market Forecast
Europe Self-healing Coatings Market Outlook
Japan Self-healing Coatings Market Forecast
China & India Self-healing Coatings Market Forecast
Self-healing Coatings Market Outlook & Forecast by Segmentation
Based on form, the extrinsic segment is expected to remain at the forefront of self-healing coatings market share over the assessment period. The growth is mainly because extrinsic self-healing coatings frequently provide more robust and longer-lasting protection in comparison to intrinsic coatings, which rely on internal healing mechanisms. This increased service life might result in cost savings and less frequent reapplications or maintenance.
Furthermore, extrinsic self-healing coatings can help with sustainability by minimising waste and the need for frequent replacements or repairs. As consumers and industries become more environmentally conscious, these coatings can be considered a responsible choice.
By End-use Industry
Based on end-use industry, the automotive segment is set to account for 37% of the self-healing coatings market share over the assessment period. The growth is because the automobile business places a high value on aesthetics, and buyers frequently prioritise the appearance of their vehicles. Self-healing coatings can keep an automobile looking brand new by automatically fixing small dents. This characteristic attracts car owners in particular, leading to the demand for such coatings.
Furthermore, self-healing coatings give an extra layer of protection to a vehicle’s paint and finish. With the rising expense of automotive paint jobs and the need to keep a car’s value, people are more likely to invest in coatings that can protect against environmental causes such as UV radiation, road debris, and small abrasions.
Which Company Owns the Largest Share in the Self-healing Coatings Market?
The key companies in the self-healing coatings market are Autonomic Materials, Inc., AkzoNobel N.V., Feynlab Inc., BASF SE, GVD Corporation, Shawcor Ltd., Winn & Coales (Denso) Ltd., 3M Company, Revivify Canada, Inc., Apex Auto Care, Arkema SA, Avecom N.V., Sensor Coating Systems Ltd., Nippon Paint Holding Co., Ltd., Berger Paints India Ltd, PPG Industries, Axalta Coatings System LLC, and HMG Paints Limited.
As per our analysis, the companies that hold the largest share in the market are
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PPG Industries, Inc.
Founded in 1883 and headquartered in Pittsburgh, Pennsylvania, the United States, it is a global manufacturer and distributor of paints, coatings, and specialty materials.
Founded in 2017 and with headquarters in Wilmington, Delaware, United States, it is a multinational chemical company.
Founded in 1950 and located in Florham Park, New Jersey, United States, it is a corporation that develops and manufactures industrial performance materials.
Nippon Paint Holdings Co., Ltd.
Founded in 1881 and with headquarters in Osaka, Osaka, Japan, it is a paint and paint products manufacturing company.
Axalta Coating Systems Ltd.
Established in 1866 with headquarters in Philadelphia, Pennsylvania, United States, it is a corporation that specializes in coatings for a wide range of industrial applications, materials, and industries, including automobile paints.
What Makes this Report More Insightful than Others?
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The self-healing coatings market is projected to reach a significant value of US $8,774.8 million by 2033, driven by a robust 15.7% CAGR during the period 2023–2033. Key industry players actively contributing to its growth are Autonomic Materials, Inc., AkzoNobel N.V., Feynlab Inc., BASF SE, GVD Corporation, Shawcor Ltd., Winn & Coales (Denso) Ltd., 3M Company, Revivify Canada, Inc., Apex Auto Care, Arkema SA, Avecom N.V., Sensor Coating Systems Ltd., Nippon Paint Holding Co., Ltd., Berger Paints India Ltd, PPG Industries, Axalta Coatings System LLC, and HMG Paints Limited. The largest market segment by end-use industry is automotive, while Europe emerges as the dominant region in this market.