Self-healing Materials Market Research Report- Forecast till 2030

Self-healing Materials Market Research Report Information By product type (concrete, coatings, polymers, ceramics), applications (energy generation, medical, others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/CnM/4056-HCR | 137 Pages | Author: Anshula Mandaokar | March 2024         

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Global Self-Healing Material Market Overview


Self-Healing Material Market Size was valued at USD 1.9 billion in 2022. The Self-Healing Material industry is projected to grow from USD3.135 billion in 2023 to USD 172.2301179 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 65.00% during the forecast period (2023 - 2032). Increased are the key market drivers enhancing the market growth.


Global Self-Healing Material Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Self-Healing Material Market Trends




  • Growing construction industries are driving the market growth.




The growth in the construction industry is expected to offer significant opportunities to the self-healing materials market. Self-healing materials are materials that can repair damage to themselves without the need for external intervention. These materials can potentially revolutionize the construction industry by reducing maintenance costs and increasing the lifespan of buildings and infrastructure. The construction industry is one of the largest consumers of materials, and the demand for construction materials is expected to grow as the world's population increases. With the rise of urbanization and infrastructure development, there is a growing need for high-quality, durable construction materials that can withstand the stresses and strains of everyday use. These materials can be repaired when damaged, reducing the need for repairs and replacement and saving time and money. Therefore, such factors related to Self-healing Materials have enhanced the market CAGR in recent years.


Additionally, the wind power industry is a rapidly growing composite application industry, where reinforcing fibers are used in light rotor blade manufacturing. A fundamental feature of the design of wind blades is choosing suitable materials, which can affect many parameters such as weight, load & fatigue behavior, physical properties, etc. Materials such as bamboo, steel, and aluminum were used to manufacture wind blades many years earlier. In a cost-driven market, the wind industry relies on bottom-line prices and how to do more but pay less. Composite components allow high strength at a low weight, meaning that more extended and more powerful rotor blades can be generated cost-effectively for more giant wind turbines. The primary construction material used to manufacture wind turbine blades is glass. Wind turbines are primarily made of steel (71-79 percent of total turbine mass), resin or plastic (11-16 percent), iron or cast iron (5-17 percent), copper (1 percent), and aluminum (0-2 percent), as per the study conducted by National Renewable Energy Laboratory. Composites, such as FRP, are reinforcement materials in many wind applications. Their elevated strength and rigidity characteristics make them ideal turbine components combined with their low weight and design versatility. These materials have proved to be one of the most flexible composites. Ultimately, the ability to mold this fiber into complicated forms enables the blade maker to provide various alternatives to any particular concern. Thus, driving the Self-Healing Material market revenue.


Self-Healing Material Market Segment Insights


Self-Healing Material Product Type Insights


The Self-Healing Material market segmentation, based on product type, includes concrete, coatings, polymers, and ceramics. The polymers segment dominated the market; increasing demand attributed to the increasing adoption of polymers like polyurethane, cross-linked polymers, trimers, and multifunctional polymers owing to exceptional properties like thermal stability, durability, resistance to abrasion, thermodynamical stability, and abrasion resistance shall drive the growth.


Self-Healing Material Applications Insights


Based on applications, the Self-Healing Material market segmentation includes energy generation, medical, energy generation, and medical others. The generation segment dominated the market because self-healing materials can be used to improve the efficiency and reliability of energy generation systems. And they can repair damage to components, such as solar cells and wind turbines, which can lead to losses in efficiency.


Figure1: Global Self-Healing Material Market, by Applications, 2022 & 2032 (USD billion)


Self-Healing Material Market, by Applications, 2022 & 2032 (USD billion)


 


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Self-Healing Material Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Self-Healing Material market area will dominate this market, owing to industries' adoption of green technologies and environment-friendly construction materials are anticipated to impact the market growth in this Region positively.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure2:  SELF-HEALING MATERIAL MARKET SHARE BY REGION 2022 (%)


SELF-HEALING MATERIAL MARKET SHARE BY REGION 2022 (%)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Self-Healing Material market accounts for the second-largest market share due to the increasing use of self-healing materials attributed to incomparable properties like durability, thermal stability, abrasion resistance, stiffness, strength, and others shall foster market growth. Further, the German Self-Healing Material market held the largest market share, and the UK Self-Healing Material market was the fastest-growing market in the European Region.


The Asia-Pacific Self-Healing Material Market is expected to grow fastest from 2023 to 2032. This is due to increasing R&D on self-healing batteries and devices, and corrosion-resistant materials for marine and oil & gas application areas in the Region is anticipated to fuel the market growth. Moreover, China’s Self-Healing Material market held the largest market share, and the Indian Self-Healing Material market was the fastest-growing market in the Asia-Pacific region.


Self-Healing Material Key Market Players& Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Self-Healing Material market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Self-Healing Material industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Self-Healing Material industry to benefit clients and increase the market sector. In recent years, the Self-Healing Material industry has offered some of the most significant advantages to medicine. Major players in the Self-Healing Material market, including AkzoNobel N.V., Arkema SA, Autonomic Materials Inc., Avecom N.V., BASF SE, CompPair Technologies Ltd., Critical Materials S.A., E.I. Du Pont De Nemours and Company, Evonik Industries, Sensor Coating Systems Ltd., and others, are attempting to increase market demand by investing in research and development operations.


BASF SE, an initialism, And Portmanteau for its original name Badische Anilin- und Soda-Fabrik, is a European multinational company and the largest chemical producer in the world. Its headquarters are in Ludwigshafen, Germany.BASF SE acquired Chemetall GmbH, a producer of specialty chemicals and surface treatment products.


Evonik Industries AG is a stock-listed German specialty Chemicals Company headquartered in Essen, North Rhine-Westphalia, Germany. It is the second-largest chemicals company in Germany and one of the largest specialty chemicals companies in the world. Evonik Industries acquired the Specialty & Coating Additives business of Air Products (U.S.), strengthening its leading position in the high-margin specialty & coating adhesives market.


Key Companies in the Self-Healing Material market include



Self-Healing Material Market Segmentation


Self-Healing Material Product Type Outlook



  • Concrete

  • Coatings

  • Polymers

  • Ceramics


Self-Healing Material Applications Outlook



  • Energy generation

  • Medical

  • Others


Self-Healing Material Regional Outlook




  • North America

    • US

    • Canada




  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size2022 USD 1.9billion
Market Size 2023 USD 3.135billion
Market Size2032 USD 172.2301179billion
Compound Annual Growth Rate (CAGR) 65.00%(2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Applications, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled AkzoNobel N.V., Arkema SA, Autonomic Materials Inc., Avecom N.V., BASF SE, CompPair Technologies Ltd., Critical Materials S.A., E.I. Du Pont De Nemours and Company, Evonik Industries, Sensor Coating Systems Ltd
Key Market Opportunities The growing application in medical devices and drug delivery systems
Key Market Dynamics The growing application of asphalt in road construction and its ability to reduce greenhouse emissions contribute to the growth.




Frequently Asked Questions (FAQ) :

The Self-Healing Material market size was valued at USD 1.9Billion in 2022.

North America had the largest share of the Self-Healing Material market market

North America had the largest share of the Self-Healing Material market market

The key players in the market areAkzoNobel N.V., Arkema SA, Autonomic Materials Inc., Avecom N.V., BASF SE, CompPair Technologies Ltd., Critical Materials S.A., E.I. Du Pont De Nemours and Company, Evonik Industries, Sensor Coating Systems Ltd.

The polymers category dominated the market in 2022.

Energy generation had the largest share of the Self-Healing Material market

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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