USD 1.35 billion
Report ID: SQSG15A2038 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 128 | Figures: 77
Self-Healing Material Market size was valued at USD 1.35 billion in 2021 and is poised to grow from USD 1.68 billion in 2022 to USD 12.37 billion by 2030, growing at a CAGR of 24.8% in the forecast period (2023-2030).
Extensive use of the self-healing material in the building and infrastructure industry is a major growth factor in the market. The increased use of composites in the automobile industry is also contributing to market growth. In addition, the rising demand for the wind energy industry is pushing the need for the product. The growth in self-healing coatings is primarily due to the increasing usage of these products in the industrial sector, including automotive and aerospace. These coating are used by several industries such as machinery manufacturing, automotive sector, oil and gas, marine sector, aerospace sector, and consumer goods.
Self-healing material is used to heal the internal defects/cracks or damage generated and can rebuild the properties it works same as the human skin when it is wounded. Self-healing material are polymers, metals, ceramics, and their composites that when damage by operational use has the ability to fully or partially recover its original set of properties. The material also has electronic it can repair those connection too. The material is unbreakable even when it is stretch.
US Self-Healing Material Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.35 billion
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Global self-healing material market is segmented based on the form, product, technology, application, and region. On the basis of form, it is segmented as intrinsic and extrinsic. On the basis of product, the self-healing material market is segmented into polymer, concrete, metal, coating, ceramic, asphalt, and fiber-reinforced composites. Based on the application, Self-Healing Material Market is segmented as energy and generation, building and construction, automotive and transportation, electronic and semiconductors, medical and others. On the basis of technology, Self-Healing Material Market is segmented as reversible polymers, microencapsulation, shape memory material, biological material system.
Self-Healing Material Market Analysis by Form
Based on the form the market is segmented into intrinsic, and extrinsic. The intrinsic segment held the major self-healing materials market share and is likely to continue this trend during the forecast period. Intrinsic systems or materials have the innate ability to restore the integrity of the material after damage. The product also needs external factor to stimulate the healing process.
Self-Healing Material Market Analysis by Product
On the basis of product, the self-healing material market is segmented into polymer, concrete, metal, coating, ceramic, asphalt, and fiber-reinforced composites. The polymer segment held the prime share of market in 2021. Increasing demand attributed to the increasing adoption of polymers like polyurethane, cross-linked polymers, vitrimers, and multifunctional polymers owing to the exceptional properties like thermal stability, durability, resistance to abrasion, thermodynamical stability, and abrasion resistance drive the market growth. Self-healing ceramic composites are being widely used in jet engines, aircrafts, and other aerospace applications attributed to their high thermal resistance.
Self-Healing Material Market Analysis by Application
Based on the application it is segmented as energy and generation, building and construction, automotive and transportation, electronic and semiconductors, medical and others. The building and construction segment led the market for self-healing materials and accounted for the largest revenue share for 34% in 2021. As construction activities are increasing especially in Asia Pacific region, owing to rise in construction activity in China and India, the product demand for construction application is expected to witness significant growth over the forecast period.
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Europe dominated the global self-healing materials market and accounted for revenue share of 28.4% in 2021. Rising demand in the transportation industry is expected to boost the market. The increasing use of self-healing materials attributed to in comparable properties like durability, thermal stability, abrasion resistance, stiffness, strength and others shall foster market growth. Moreover, ample number of manufacturers present in counties like Germany, France, Russia, and the UK drive the regional growth. Rising consumers spending and purchasing power with the high expansion of multinational companies, especially in France and Italy are anticipated to leverage the industry development by 2028.
Asia Pacific is expected to capture the highest market revenues in the near future, growing at the fastest CAGR of 30.5% by 2028. Higher rates of industrialization, dense population, and rising foreign direct investments in the automotive and electronic sectors are major driving factors that support robust regional growth.
Moreover, key players from developed economies including Europe and North America are increasing their manufacturing capacities and shifting their manufacturing capacities and shifting their production units to emerging economies of Southeast Asia to capture a large customer pool.
The Middle East and Africa are expected to exhibit moderate growth. Wind energy is one of the significant sources of energy in South Africa. Attributed to the high strength and durability, and mechanical stability of composite that are highly employed in the manufacturing of wind blades. Recently in 2018, the wind power construction activity in Africa was estimated to peak at 1 GW of capacity in 2020 and 2021. Increasing construction of such wind turbines using composites shall boost the market growth.
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Self-Healing Material Market Driver
Concrete is a conventional material used for building and construction activities. It is widely used in constructing infrastructure like dams, ports, storage tank, roads, tunnels, subways, and others. It is strong and durable, it also has a high tendency to form cracks, allowing various unwanted aggressive chemicals and other materials to seep in. These cracks and the deposition of chemicals into cracks cause deterioration of the infrastructure and reduce the same durability. Active treatment technique are operated to treat such damage. Self-healing technique have the ability to repair the crack by self-healing mechanism allow rapid treatment. Due to shortcoming of such treatment some advance and innovative treatment method like self-healing and encapsulation of polymeric material are high in demand. Adoption of such technique boost market growth.
Self-Healing Material Market Restraint
Self-healing mechanism material is limited in design. The encapsulated healing agents are microscopic and thus prevent the compromising of the overall reliability of material. The tiny size of capsule limits the amount of healing agents in the materials. This ultimately constraints the amount of damage the healing agent can repair.
High elastic polymers, regardless of having high elasticity, cannot withstand pressure at times. Microcapsules are similar to high elastic polymers and cannot withstand much external force. The limited microcapsule holding capacity of materials coupled with irreversible process of capsules rupture is expected to limit the ability to repair the material. This shortcoming of the product is expected to limit the market growth.
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The competitive landscape of the market comprises several global as well as regional players. Market-based companies are seen to concentrate on maintaining product distinction, leading to strong investments in R&D operations. To draw the buyers and succeed in the market, local manufacturers gradually embrace the latest technologies in their brands. To gain an advantage over their peers, manufacturers are seen concentrating on improving product quality and building up strong production and export networks. Some of the key players operating in the global market are Acciona S.A., AkzoNobel N.V., Arkema SA, BASF SE, Covestro AG, Du Pont, Evonik Industries, and others.
Top Players in the Global Self-Healing Material Market
Self-Healing Material Market Recent Developments
Wind power is one of the fastest growing composite application industries, with reinforcing fibers used in the manufacture of light rotor blades. The selection of appropriate materials, which can affect many parameters such as weight, load and fatigue behavior, physical properties, and so on, is a fundamental feature of wind blade design. Wind blades were previously made from materials such as bamboo, steel, and aluminum. The wind industry relies on bottom-line prices and how to do more while paying less in a cost-driven market. Composite components provide high strength at a low weight, allowing for more extended and powerful rotor blades to be produced at a lower cost for larger wind turbines.
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According to our analysis, increased rate of road construction, particularly in developing countries, is one of the major factors driving the growth of the self-healing material market. Increased adoption of self-healing materials due to their ability to repair damages caused by mechanical friction, as well as a shift from traditional materials to advanced materials due to the long-term benefits, further influence the self-healing materials market.
|Market size value in 2021||USD 1.35 billion|
|Market size value in 2030||USD 1.68 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Self-Healing Material Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Self-Healing Material Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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