Acumen Research and Consulting recently published report titled “Self-healing Materials Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”
BEIJING, July 20, 2022 (GLOBE NEWSWIRE) — The Global Self-healing Materials Market size accounted for USD 1,054 Million in 2021 and is expected to reach USD 9,304 Million by 2030 with a considerable CAGR of 27.8% during the forecast period from 2022 to 2030.
Self-healing materials are natural and synthetic industrial products that can instantly and independently recover or repair themselves without the need for external interference or manual intervention. Materials deteriorate over time due to climate changes, stress, or cumulative degradation during operation. Self-healing materials can respond to this deterioration by initiating a recovery procedure that responds to the micro-damage. The market for self-healing materials is expected to grow due to their remarkable properties and potential benefits, such as the tendency of hollow fibers to be easily mixed and customized with traditional reinforcing fibers, and the accessibility of a greater quantity of healing agents to restructure damages, such as dyes, monomers, catalysts, and hardeners. As a result of these factors, the self-healing materials market in the construction projects, synthetic products, and coatings industries are expected to grow at a faster rate over the forecast period.
Some self-healing materials have linear actuators and detection capabilities, allowing them to adapt to changing environmental conditions. To protect the substance from external environmental impact, hydroxyl end-functionalized polydimethylsiloxane (HOPDMS) and poly diethoxy siloxane (PDEs) self-healing materials are being used.
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|Market||Self-healing Materials Market|
|Market Size 2021||USD 1,054 Million|
|Market Forecast 2030||USD 9,304 Million|
|CAGR During 2022 – 2030||27.8%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Product, By Technology, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||The Dow Chemical Company, High Impact Technology, LLC, Covestro AG, Michelin Group, Huntsman International LLC, BASF SE, MacDermid Autotype Ltd., Akzo Nobel N.V., NEI Corporation, and Evonik Industries Corporation.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Self-healing Materials Market Growth Aspects
The strong growths for sophisticated self-repairing polymeric materials from end-use industries, as well as the capacity of materials to fix mechanical interfacial damage, are supposed to propel overall market growth. Furthermore, the main driving force of the self-healing materials market is that self-healing materials significantly reduce the frequency of damage restoration maintenance. In recent years, self-healing materials used in construction and building projects, such as self-healing mortar shells and self-healing concrete mixtures, have gained popularity. This expansion is expected to continue in the coming years. The healthcare industry offers significant growth opportunities for the self-healing materials market. This is due to the potential for self-healing materials to be used in the production of synthetic biology, thereby propelling the self-healing materials market forward.
The self-healing materials market has been strongly influenced by the COVID-19 disease outbreak, as so many end-use businesses have suffered as a result. This can be attributed to governments all over the world attempting to implement temporary shutdowns as well as other stricter regulatory measures in order to slow the spread of the infection. As a result, several more major end-use sectors, including automobile manufacturing, construction, and real estate, were forced to close, putting downward pressure on market demand for self-healing materials.
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The market is being propelled by the increasing use of self-healing materials in the electronics and automotive industries
By repairing damage and reducing the level of entropy, self-healing materials help to extend the life of systems and applications. The most significant users of such materials are the aviation, automotive, manufacturing and construction, and oil and gas industries. Among the applications in the automotive industry are anti-scratch polyurethane corrosion resistance coating based on self-healing rubber compounds for automotive components. Self-healing asphalt is widely used in construction projects. Oil-containing containers are mixed into the bituminous binder to boost the effectiveness of asphalt roofing material. The industry for self-healing materials is growing as a result of the development of these industries.
Self-healing Materials Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global self-healing materials market. Asia-Pacific is predicted to grow significantly during the forecast period, owing to growth in the automobile industries and expanding infrastructure activities. The major drivers that elevate this market’s energetic regional growth are the ever-increasing rates of economic development, the condensed population in cities, and rising funding sources in the automotive and electronics sectors. The availability of a large market, combined with lower manufacturing costs, is expected to increase the use of self-healing materials in this region. The expansion of semiconductor manufacturing in Korea, Taiwan, and China is expected to drive future growth in the Asia-Pacific region even further. Furthermore, major syndicates are expanding their self-healing materials manufacturing capacity in China to meet the region’s strong emerging market demand.
Self-healing Materials Market Segmentation
The global self-healing materials market has been segmented by Acumen Research and Consulting based on product, technology, and application. Based on the product, the market is divided into concrete, polymers, coatings, fiber-reinforced composites, ceramic, asphalt, and metals. Based on the technology, the market separated into reversible polymers, shape memory materials, microencapsulation, biological material systems, and others. Based on application, the market is categorized into energy generation, automotive & transportation, building & construction, healthcare, electronics & semiconductors, and others.
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Self-healing Materials Market Players
Some key players covered global in the self-healing materials industry are The Dow Chemical Company, High Impact Technology, LLC, Covestro AG, Michelin Group, Huntsman International LLC, BASF SE, MacDermid Autotype Ltd., Akzo Nobel N.V., NEI Corporation, and Evonik Industries Corporation.
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Mr. Richard Johnson
Acumen Research and Consulting