What is the global market size of Self-Healing Material Market?

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).

Global Self-Healing Material Market Size, Share, Growth Analysis, By Form(Intrinsic, Extrinsic), By Product(Polymer, concrete), By Application(Energy, Generation), By Technology(Reversible Polymers, Microencapsulation) - Industry Forecast 2024-2031

Report ID: SQSG15A2038 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 128 | Figures: 77

Global Self-Healing Material Market Insights

Self-Healing Material Market size was valued at USD 1.35 billion in 2019 and is poised to grow from USD 1.68 billion in 2023 to USD 12.37 billion by 2031, growing at a CAGR of 24.8% in the forecast period (2024-2031).

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 Self-Healing Material Market Report Snapshots

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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. 'Arkema SA', 'Autonomic Materials Inc.', 'Acciona S.A.', 'Covestro AG', 'AkzoNobel N.V.', 'BASF SE', 'Critical Materials S.A.', 'Fescon Oy', 'Huntsman Corporation', 'Evonik Industries AG', 'LG Chem Ltd.', 'Nissan Chemical Corporation', 'PPG Industries, Inc.', 'Royal DSM N.V.', 'Sensor Coating Systems Ltd.', 'Sika AG', 'Slips Technologies Inc.', 'Stahl Holdings B.V.', 'Suprapolix B.V.', 'The Dow Chemical Company'

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.

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.

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.

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Global Self-Healing Material Market Size, Share, Growth Analysis, By Form(Intrinsic, Extrinsic), By Product(Polymer, concrete), By Application(Energy, Generation), By Technology(Reversible Polymers, Microencapsulation) - Industry Forecast 2024-2031

Global Self-Healing Material Market Insights

Global Self-Healing Material Market Report Snapshots

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