Self-healing Materials Market Share, Size, Trends, Industry Analysis Report, By Form (Extrinsic, Intrinsic); By Material Type; By Technology; By Application; By Region, And Segment Forecasts, 2024-2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM1097
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global self-healing materials market was valued at USD 2.77 billion in 2023 and is expected to grow at a CAGR of 22.20% during the forecast period. Self-healing materials are capable of automatically repairing and restoring their functionalities at the microscopic level without the need for human intervention. Various environmental stimuli, including changes in UV light, pH levels, or mechanical damage, such as microcracks, can trigger them. However, the self-healing materials industry has faced significant challenges during the pandemic due to the implementation of temporary
lockdowns and strict regulations by governments worldwide to contain the spread of the virus.
To Understand More About this Research: Request a Free Sample Report
The operations of various key end-use industries, such as automotive and building & construction, have been adversely affected by this trend to a decrease in demand for self-healing materials. However, the US market continues to be driven by multinational companies heavily invested in ongoing research and development to uncover innovative technologies. The implementation of advanced expertise supports the expansion of the product portfolio, enabling these companies to capture previously undeveloped markets by growing their consumer base. These materials are specifically designed to effectively repair damages while preventing further propagation, thereby extending the shelf-life of the materials.
Depending on their intrinsic and extrinsic properties, specialty composites are manufactured using various novel technologies, such as hollow glass fibers, optical fibers, and microcapsules. The self-repairing process in these composites mimics the biological curing process observed in living organisms. It involves restoring the deformed structure using compounds already present in the material. Microcapsules in self-healing materials rupture when exposed to mechanical damage, releasing healing agents to the injury site.
The healing agents in self-healing materials polymerize and blend, repairing the damage and restoring the structural and functional integrity of the material. The microcapsules containing these agents are designed to be resilient enough to endure the manufacturing process and withstand the intended application of the material. Using self-healing materials can significantly reduce the frequency of maintenance costs required to repair damages, which is expected to be a key factor driving market growth shortly. Moreover, using self-healing cement and mortar in the building and construction industry can further boost the demand for these products over the forecast period.
The research report offers a quantitative and qualitative analysis of the Self Healing Materials Market to enable effective decision-making. It covers the key trends and growth opportunities anticipated to have a favorable impact on the market. Besides, the study covers segment and regional revenue forecasts for market assessment.
The logistics and manufacturing industries were significantly impacted by the COVID-19 pandemic, which initially hindered the growth of the market. However, as the industry started to recover, a steady increase in the aerospace, construction, and automotive sectors has driven the market. The growing development of the construction industry in emerging countries is one of the primary factors propelling the market growth. Additionally, the increasing utilization of self-healing materials for the healthcare industry in biomimetics is expected to boost the market further.
For Specific Research Requirements, Speak With Research Analyst
Industry Dynamics
Growth Drivers
Concrete is a commonly used material in building and construction activities employed in constructing infrastructure such as ports, subways, dams, storage tanks, tunnels, and roads. Despite its strength and durability, it is highly susceptible to cracking, allowing aggressive chemicals and other unwanted materials to penetrate. The deposition of these materials into the cracks can cause infrastructure deterioration and reduce its overall durability. For such damages, active treatment techniques like self-healing techniques are utilized.
Self-healing techniques have the unique ability to repair cracks rapidly, due to their self-healing mechanism. Because of the limitations of innovative, alternative, and existing treatment methods, such as encapsulation of polymeric materials and self-healing are in high demand. Adopting these advanced technologies will fuel market growth over the forecast period.
Self-healing technologies have developed significantly in recent decades, with science and material engineering researchers continually working to create self-healing polymeric materials. One area of focus has been on self-conductive materials, which are electronic or bioelectric materials that incorporate reversible bonds into conductive polymers through conductive fillers.
NASA has successfully implemented self-healing techniques in aeronautical engineering and wiring structures, with no visible scars after healing. Self-healing methods have an average healing time of 15-20 seconds. Moreover, NASA has developed materials with even faster healing times by utilizing the viscoelastic effects of materials at high temperatures. These materials are used in various defense applications, such as aircraft, rotorcraft, bulletproof materials, and aerospace. Such developments are expected to drive the growth of the self-healing materials market.
Report Segmentation
The market is primarily segmented based on form, material type, technology, application, and region.
|
By Form |
By Material Type |
By Technology |
By Application |
By Region |
|
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
The Concrete Segment Witnessed the Largest Growth in 2022
In 2022, the concrete self-healing materials segment witnessed the largest growth. It can be attributed to the functional advantages of concrete materials, including high strength, minimal shrinkage, creep, durability, and cost-effectiveness. The self-healing coatings materials segment is also expected to grow due to the rising usage of these products in various industrial sectors, including automotive and aerospace. These coatings are employed by several industries, including machinery manufacturing, automotive, oil and gas, marine, aerospace, and consumer goods sectors.
The asphalt self-healing materials market is anticipated to experience robust growth during the forecast period. Integrating self-healing technology into road construction and maintenance procedures has enormous potential to create innovative material-engineered technology. This technology can aid in reducing the early aging of asphalt pavements, minimizing the use of natural resources in maintaining road networks, and mitigating CO2 emissions, thereby enhancing road safety. These factors are expected to support the overall expansion of the market.
The Reversible Polymers Expected to Witness the Highest Market Share During Forecast Period
The reversible polymers segment expected to witness the highest market share during forecast period, mainly due to its extensive usage in various industrial sectors, particularly in the medical industry. Moreover, the growing geriatric population is expected to drive the market growth. The stimulus-responsive microstructures manufacture advanced micro devices such as drug delivery systems, micro-actuators, membranes, and sensors.
The application of self-healing materials can assist in restoring damaged surfaces and enhance their corrosion resistance properties. Microencapsulation technology, used in self-healing materials, is expected to gain traction shortly due to its capability to repair polymeric composites damaged by mechanical and chemical processes. Microspheres are present in the compounds, which release their contents at an appropriate time through various mechanisms, depending on the end-use of encapsulated products.
The Asia Pacific Accounted for Largest Revenue Share over the Forecast Period
During the forecast period, the Asia Pacific region is expected to have the largest revenue share and further expand its growth rate. This growth can be attributed to increasing Foreign Direct Investments (FDIs), a dense population, and rapid industrialization in the electronics and automotive sectors. Additionally, key players from developed economies like Europe and North America are expanding their manufacturing capacities and relocating production units to emerging economies in Southeast Asia to tap into the region's large customer base.
The mounting construction sector in North America is expected to drive significant market growth. Adopting green technologies and environment-friendly construction materials in the building & construction industries is anticipated to impact the market growth positively. Moreover, the market is being propelled by the rising need for polymer-based self-healing materials from the defense and aerospace sector of the U.S.
Competitive Insight
The major global market players include The Dow Chemical Company, Huntsman International LLC, Covestro AG, Michelin Group, High Impact Technology, LLC, Akzo Nobel N.V., MacDermid Autotype Ltd., BASF SE, Evonik Industries Corp., NEI Corp.
Recent Developments
- In March 2021, the Switzerland-based company CompPair Technologies Ltd. introduced its advanced self-healing technology.
- In March 2020The Goodyear Tire & Rubber Company introduced a new concept tire named "reCharge. This tire incorporates a liquid compound of synthetic rubber with innovative fibers that can determine the level of wear and repair any defects effectively
Self-healing Materials Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 3.37 billion |
|
Revenue forecast in 2032 |
USD 16.74 billion |
|
CAGR |
22.20% from 2024 - 2032 |
|
Base year |
2023 |
|
Historical data |
2019 - 2022 |
|
Forecast period |
2024 - 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
By Form, By Material Type, By Technology, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
The Dow Chemical Company, Huntsman International LLC, Covestro AG, Michelin Group, High Impact Technology, LLC, Akzo Nobel N.V., MacDermid Autotype Ltd., BASF SE, Evonik Industries Corp., NEI Corp. |
We strive to offer our clients the finest in market research with the most reliable and accurate research findings. We use industry-standard methodologies to offer a comprehensive and authentic analysis of Self Healing Materials Market. Besides, we have stringent data-quality checks in place to enable data-driven decision-making for you.
Browse Our Top Selling Reports
Water-Based Barrier Coatings Market Size, Share 2024 Research Report
Liver Metastases Treatment Market Size, Share 2024 Research Report
Cytotoxic Drugs Market Size, Share 2024 Research Report
Antibiotic Resistance Market Size, Share 2024 Research Report
Benzodiazepine Drugs Market Size, Share 2024 Research Report
FAQ's
key companies in self-healing materials market are The Dow Chemical Company, Huntsman International LLC, Covestro AG, Michelin Group, High Impact Technology, LLC, Akzo Nobel N.V., MacDermid Autotype Ltd., BASF SE, Evonik Industries Corp., NEI Corp.
The global self-healing materials market expected to grow at a CAGR of 22.1% during the forecast period.
The self-healing materials market report covering key segments are form, material type, technology, application, and region.
key driving factors in self-healing materials market are Multinational companies heavily invested in ongoing research and development.
The global self-healing materials market size is expected to reach USD 16.74 billion by 2032.
© 2024 Polaris Market Research and Consulting. All rights reserved
