Growth opportunities in the self-healing materials market look promising over the next six years. This is mainly due to the growing demand for self-healing materials with the increasing adoption in various industries like aerospace, construction, and the improved lifespan of aircraft parts by using these materials.
Self-Healing Materials Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surge in demand for self-healing materials coupled with its augmenting acquisition across several industries such as construction and aerospace have driven the growth of the global self-healing materials market. The use of these materials by NASA to launch new aircraft with properties like recovering functionality after failure, degradation, or damage, etc., has stimulated the market demand. Moreover, aerospace engineers, by using these materials, can increase the life of aircraft parts, thereby strengthening the market share. Also, various researchers attracted by the self-healing materials are undergoing certain advancements in these materials. For example, research on new intrinsic self‐healing cementitious materials with biomimetic features is at the front line of material science, offering a remarkable way to construct resilient and sustainable concrete infrastructures. These factors together will promote self-healing materials market growth.
As per the market analysis, Europe is heading towards the commercialization of self-healing materials. For instance, the European Government in 2018 funded the SHEMAT project, enhancing primarily on four types of materials: ceramics, fiber-reinforced polymer composites, concrete, and polymers, which has accelerated the market growth. However, as per the self-healing materials market analysis, the high price tag of these materials over the traditional conventional materials will hamper the market growth.
Form Segment Drivers
Based on the form, intrinsic self-healing materials are projected to witness a higher CAGR over the forecast period. This is because of the significant benefits offered by these materials, such as decreasing the cycling lifetime and eliminating the mechanical cracks.
Regional Drivers
Based on the regional coverage, Europe is predicted to lead the market over the forecast period. The growing usage of self-repairing specialty polymers in countries like France, the UK, and Germany integrated with process innovation are boosting the market demand. According to European Union, Europe spends more than US$ 477 billion in the maintenance and repairing of the bridges, which has resulted in the construction industry adopting self-healing materials to build tunnels, bridges, and buildings.
Self-Healing Materials Market Leading Manufacturers:
- Devan
- Covestro AG
- Avecom
- Arkema
- Akzo Nobel N.V.
- Critical Materials S.A.
- BASF SE
- Autonomic Materials, Inc.
- Applied Thin Films Inc.
- ACCIONA
Self-Healing Materials Market Segmentation:
Segmentation by Form:
- Extrinsic
- Intrinsic
Segmentation by Type:
- Embedded Healing Agents
- Microvascular Materials
- Shape-Memory Materials
- Reversible Polymers
Segmentation by End-Use Industry:
- Healthcare
- Automotive
- Electrical and Electronics
- Construction
- Aerospace
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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