The global smart coatings market size is expected to reach USD 27.25 Billion in 2030 and register a revenue CAGR of 23.4% over the forecast period, according to the latest report by Reports and Data. Increasing demand for Self Healing Coatings in the construction industry, along with rising demand for longer durability than traditional coatings, are expected to drive market revenue growth during the forecast period.
Increasing application of Self Healing Coatings for architectural and decorative purposes is expected to boost revenue growth of the market. Self Healing Coatings are used on a variety of surfaces throughout houses, including tabletops, glass panels, photo frames, electronic devices, and lighting fixtures, among others. Smart nanotechnology coating on surfaces can improve handling, durability, and oxidation resistance without affecting performance. Additionally, Self Healing Coatings can be designed to enhance the reflectance of a glass surface at a specific wavelength of light. Reflective properties of Self Healing Coatings can help make the surface a good choice for a variety of aesthetic applications. These factors are expected to boost revenue growth of the global Self Healing Coatings market during the forecast period.
However, concerns regarding stringent regulatory policies and environmental challenges are expected to hamper the revenue growth of the market during the forecast period. Self Healing Coatings are considered harmful to the environment due to the release of gases during synthesis and the use of solvents such as Volatile Organic Compounds (VOCs) that emit toxic peroxides into the environment. These compounds are considered harmful to the environment since they contribute to ozone and smog formation. The Self Healing Coatings industry is facing environmental and legal challenges as governments of various countries are placing more focus on the regulation of Volatile Organic Compounds (VOCs) and are implementing strict rules demanding the use of environment-friendly green products. Manufacturers have been forced to produce environment-friendly Self Healing Coatings with low VOC levels due to strict regulations imposed by the European Union’s Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH), the United States Environmental Protection Agency (USEPA), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities.
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The global materials & chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty & personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food & beverage industries, buildings & construction, automotive, packaging, and manufacturing industries. Other major factors driving growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.
Key companies profiled in the Self Healing Coatingss reports are BASF SE, The Sherwin-Williams Company, PPG Industries, Inc., Eastman Chemical Company, RPM International, Inc., and Axalta Coating Systems, LLC, Jotun A/S, Tesla Nanocoatings, Inc., NEI Corporation, and Helicity Technologies, Inc.
Layers Outlook (Revenue, USD Billion; 2018-2030)
Function Outlook (Revenue, USD Billion; 2018-2030)
Sensing Type Outlook (Revenue, USD Billion; 2018-2030)
- Ionic Strength
- Surface Tension
- Electric or Magnetic Fields
- Mechanical Forces
End-Use Outlook (Revenue, USD Billion; 2018-2030)
- Automotive & Transportation
- Building & Construction
- Aerospace & Defense
- IT Technologies
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Regional analysis of the Self Healing Coatingss market covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Addressed by the Report:
- What are the key factors expected to drive and restrain Self Healing Coatings’s market growth over the forecast period?
- What are the key products and applications offered by the Self Healing Coatings markets?
- What are the current and future market trends of the Self Healing Coatings market?
- Which segment is expected to show lucrative growth throughout the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- What are the key challenges and limitations the new entrants and companies will have to face in the Self Healing Coatings markets over the forecast period?
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