Self-healing materials market to witness CAGR of 50% (2021-2027) due to growing adoption of self-healing polymers

NOIDA, India, November 24, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, Market of self-healing materials is expected to reach at 1.2 billion dollars in 2020, growing at a CAGR of 50% from 2021-2027. The analysis is segmented by material type (concrete, coatings, polymers, asphalt, fiber reinforced composite, ceramics, metals and others); Industry (construction, transportation, electrical and electronics, general industry, healthcare, and others); Region/Country.

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The Self-Healing Materials market report is summarized by gathering informational data on various dynamics such as market drivers, restraints, and opportunities. This innovative report uses several analyzes to get a closer look at the Self-Healing Materials market. The Self-Healing Materials Market report offers a detailed analysis of the latest industry developments and market trends influencing the growth of the market. Additionally, this statistical market research repository studies and evaluates the Self-Healing Materials market on a global and regional level.

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Market overview

Self-healing materials are materials or products that are artificially created and have the built-in ability to autonomously heal damage on themselves without external or human intervention. Self-healing materials repair themselves and are in high demand due to their ability to self-heal, which can reduce additional maintenance costs. Modern self-healing materials are glass, rubber, plastic, metals, etc. These materials can heal micro-level stresses, such as small cracks. This can significantly improve the life of the material. Currently, the development of self-healing materials is either at the preliminary level or at the product level, so these materials are yet to be available for many applications. Applications of self-healing materials are expected almost entirely in all industries in the future. The very few applications being developed to date are mainly in the automotive, aerospace and construction industries. For example, Nissan Motor Co. Ltd commercializes the world’s first self-healing clear coat for automotive surfaces.

Some of the major players operating in the market include Acciona SA, EI Du Pont De Nemours and Company, Arkema SA, Evonik Industries AG, BASF SE, Covestro AG, Sensor Coating Systems Ltd., AkzoNobel NV, Adaptive Surface Technologies, Inc., Applied Thin Films, Inc.

Impact of COVID-19

Due to travel restrictions and projected poor financial performance of market players in 2020, the spread of the COVID-19 pandemic has harmed the self-healing materials industry. All market activities and production and manufacturing sectors were stopped from functioning which had an adverse impact on the supply chain mechanism and affected the ability of players to cater to the market demand.

The Global Self-Healing Materials Market Report has been studied in depth with several aspects that would assist the stakeholders in making more accurate decisions.

  • On the basis of material type, the market is categorized into concrete, coatings, polymers, asphalt, fiber reinforced composite, ceramics, metals, and others. Among them, concrete has a significant share of the market of self-healing materials. Concrete is a conventional material widely used in construction. It is widely used in the construction of dams, ports, reservoirs, tunnels, roads, subways, etc. However, it is strong and durable.

  • On the basis of industry, the market is categorized into building and construction, transportation, electrical and electronics, general industrial, healthcare, and others. Construction has a significant market share. As the population grows, so does the demand for buildings and houses. Furthermore, the growing use of self-healing materials in the non-residential construction sector for durability and high strength is one of the factors driving self-healing materials. Additionally, increasing public and private investment in construction activities is also a factor fueling the demand for self-healing materials in the construction sector.

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Geographical segmentation of the self-healing materials market includes:

  • North America (United States, CanadaThe rest North America)

  • Europe (GermanyGreat Britain, France, Italy, SpainThe rest Europe)

  • Asia-Pacific region (China, Japan, India, Australiarest of APAC)

  • The rest of the world

Asia-Pacific region region helped the region to take a significant position in the market. Regional demand for construction is increasing for a growing and already larger population. Additionally, improving per capita income and disposable income encourages consumers to purchase a large number of products, thereby increasing the demand for self-healing materials from various sectors such as building and construction, healthcare, electrical and electronics, and others. In addition, the government of several countries is helping the industry expand by providing subsidies and creating policies. For example, of China draft “2022 Catalog of Promoted Industries for Foreign Investment”, contains 1,435 items. They are in line with of China plans to attract foreign investment in high-tech manufacturing, production-oriented service industries, as well as regional advanced industries in the central, western and northeastern regions. As well as rural regeneration, opportunities also exist in industries related to the green sectors, healthcare, aged care, sports and vocational education. Due to such factors, the demand for self-healing materials will increase in the foreseeable future.

Major players targeting the market include

  • Acciona SA

  • EI Du Pont De Nemours and Company

  • Arkema SA

  • Evonik Industries AG

  • BASF SE

  • Covestro AG

  • Sensor Coating Systems Ltd.

  • AkzoNobel NV

  • Adaptive Surface Technologies, Inc.

  • Applied Thin Films, Inc

The competitive environment

The degree of competition between prominent global companies is developed by analyzing several leading key players operating globally. The dedicated team of research analysts throws light on various features such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers or acquisitions by leading companies in Market of self-healing materials. The key players are analyzed using research methodologies to gain insight into the global competition.

Key questions addressed through this market research analysis report include:

  • What are the latest trends, new models and technological advancements in the Self-Healing Materials market?

  • What factors influence the self-healing materials market during the forecast period?

  • What are the global challenges, threats, and risks of Self-healing Materials market?

  • What Factors Drive and Restrain the Self-Healing Materials Market?

  • Which are the demanding global regions in Self-healing Materials market?

  • What will be the global market size in the coming years?

  • What are the key market acquisition strategies and policies implemented by global companies?

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Market of self-healing materials Report coverage

Report attributee

Details

Base year

2020

Estimated period

2021-2027

Growth momentum

Accelerate at a CAGR of 50%

Market Size 2020

1.2 billion dollars

Regional analysis

North America, Europe, APAC, Rest of the World

Major contributing region

APAC to dominate Global market for self-healing materials

Key countries covered

USA, Canada, Germany, UK, Italy, France, spain, China, Japan, India, Australia

Profiled companies

Acciona SA, EI Du Pont De Nemours and Company, Arkema SA, Evonik Industries AG, BASF SE, Covestro AG, Sensor Coating Systems Ltd., AkzoNobel NV, Adaptive Surface Technologies, Inc., Applied Thin Films, Inc.

Report scope

Market trends, drivers and restraints; Revenue estimation and forecast; Segmentation analysis; Impact of COVID-19; Supply and demand analysis; ° Сcompetitive landscape; Company profiling

Covered segments

By type of material; By industry; By region/country


About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in providing insights through market intelligence reports, customized business studies and primary research. Our research studies are spread across topics worldwide, covering markets in over 100 countries using intelligent research techniques and flexible methodologies. We offer in-depth research, detailed analysis and customized reports that help shape profitable business strategies for our clients.

Contact

UnivDatos Market Insights
Ankita Gupta
Director of Operations
Phone: +91-7838604911
Email: [email protected]
Website: https://univdatos.com/

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Sission

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SOURCE UnivDatos Market Insights Pvt. Ltd

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