Self-healing Materials Market expansion key development | AkzoNobel N.V. (Netherlands), Arkema SA (France), Autonomic Materials Inc. (U.S.)
Self-healing Materials Market
Self-healing materials are smart materials that can retain their shape in response to external factors such as light, temperature, moisture, and others. Prime examples include fiber-reinforced ceramic composites, fiber-reinforced polymer composites, and metal alloy composites. Applications in high-temperature resistant sectors are likely to drive its need. The global self-healing materials market report by Market Research Future (MRFR) contains astute insights and predictions based on historical trends and the current economic situation. Estimations are made for the period of 2018 to 2023 (forecast period) while keeping in mind the impact caused by the COVID-19 pandemic.
Market Scope
The Self-Healing Materials Market is set to expand at an impressive growth rate during the forecast period owing to its ability to self-heal any damage in regards to external factors. It can command a huge demand from industries of aerospace, automobiles, building & construction, chemicals, and energy. Investments in research and development for materials not requiring frequent maintenance and renewal have culminated insignificant results. Recently, a group containing members of Kyushu University and RIKEN developed a new material made from ethylene which can retain its shape in acidic or alkaline solutions.
Segmentation
The global self-healing materials market is segmented by product type, technology, and application.
By product type, it is segmented into ceramics, coatings, concrete, and polymers. Among the segments, the concrete segment is expected to be dominant in the market, while asphalt is anticipated to show an impressive CAGR during the forecast period. Asphalt can find major applications owing to its usage in great quantities by the construction sector.
By technology, it is segmented into shape memory materials and reversible polymers. Microencapsulation technology is expected to witness the highest growth during the forecast period. This can be attributed to its scope in the medical sector which can repair polymeric composites at a steady rate. Reversible polymers are anticipated to dominate the global self-healing materials market over the forecast period. The growth of the reversible polymer segment is attributed to its application in medical devices and drug delivery systems.
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Competition Outlook
Autonomic Materials Inc., Critical Materials S.A., Sensor Coating Systems Ltd., Covestro AG, Evonik Industries, Avecom N.V., AkzoNobel N.V., BASF SE, Arkema SA, and E.I. Du Pont De Nemours and Company are major players of the global self-healing materials market.
Regional Analysis
The self-healing materials market looks at opportunities across five major regions, namely, the Middle East & Africa (MEA), Asia Pacific (APAC), Latin America, Europe, and North America. Europe is expected to dominate the market till 2023. Pharmaceutical, automotive, and electrical and semiconductor sectors can create heavy demand for the market. Moreover, the growing expansion of companies especially, in Italy and France is expected to leverage the development of the market. Moreover, the stringent EU regulations regarding the control of emissions can advocate the use of asphalt self-healing materials.
North America is expected to follow Europe in the global self-healing materials market. Increasing investments in research and development is the primary factor driving the market demand. Moreover, the revival of renovation and construction activities in the region coupled with the expansion of industries such as an automobile, electrical and semiconductors, and pharmaceutical can foster market growth. Initiatives by local governments to increase investments for increasing consumption of self-healing materials can bode well for the market in the long run.
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1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Self-Healing Materials Market
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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