11 Sep 2018 – The global Self-Healing Materials Market is expected to gain USD 4.1 billion by 2025. Self-healing products extend the shelf life of a material as well as base layer and recipient product. Commercially, the market witnesses an upward trend due to long-term benefits offered by self-healing materials as compared to conventional compounds. Self-healing materials industry is driven by factors such as advantages and features offered by use of self-healing materials coupled with thermal and mechanical properties add to the market growth in the forecast period.
By form, the self-healing materials market is segmented as extrinsic, intrinsic, capsule-based and vascular. Material segment for self-healing material market includes metals, asphalt, fiber-reinforced composites, ceramic materials, concrete and polymer. Concrete segment leads the market growth with a CAGR of 25.9% during the estimated period.
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Technological segment for self-healing materials industry include biological material systems, shape memory materials, microencapsulation and reversible polymers. Reversible polymers lead the market segment with an estimated CAGR of 26.4% during the forecast period. End-user segmentation for self-healing materials market comprises electrical & electronics, aerospace, and construction. Electrical & electronics segment is expected to account for a significant market share in the forecast period due to production of robust products.
Geographical segmentation for self-healing materials industry includes North America, South America, Europe, Middle East and Africa. APAC market is expected to grow at a remarkable CAGR in the forecast period due to rise in use of applications in automotive and construction sector. Change in market scenarios, favorable economic developments in India and China is likely to contribute to the market growth in the forecast period. Middle East and African regions are anticipated to rise at a higher CAGR due to rapid economic developments.
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The key players in the self-healing materials market include High Impact Technology, Dow Chemicals, Michelin, Nissan, Huntsman, Akzo Nobel, Evonik Industries Corporation, PPG Industries, SENSOR Coating Systems Ltd, Fescon Oy, Volkswagen, BASF SE, Mac Dermid, Autotype Ltd, Autonomic Materials and Goodyear.
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