Self Healing Materials Market

According to Stratistics MRC, the Global Self-Healing Materials Market is accounted for $3.32 billion in 2022 and is expected to reach $56.80 billion by 2028 growing at a CAGR of 60.5% during the forecast period. Materials that can automatically and autonomously repair damage to themselves without the need for human intervention are referred to as self-healing materials. These materials or products are artificially or synthetically created. Self-healing materials have enormous potential for advanced engineering systems because they can adapt to environmental changes in a non-linear and efficient way without the need for outside help. Recent advancements in self-healing technology have led to the creation of new polymers, smart materials, polymer blends, and composites with self-healing properties. These substances are used in many industries, including biomedicine, electronics, aerospace, and coatings, because they have the ability to repair damage at both the structural and molecular levels.

According to the Federal Statistics Office (Destatis), this reflects a 14.2% decrease in building permits from October 2021. Also, 297,453 residential building licenses were issued between January and October 2022. All these construction activities increase the demand for self-healing materials in the industry, propelling the market ahead.



Market Dynamics:

Driver:

Growth in the global construction industry

For building and construction projects, concrete is a common material. It is frequently used to build infrastructure, including dams, ports, storage tanks, roads, tunnels, and subways. Despite being robust and long-lasting, it is prone to cracking, which lets various unwelcome aggressive chemicals and other materials seep in. To treat such damages, active treatment methods like self-healing techniques are used. One of the main driving forces in a developing economy like India is the expansion of construction activities for both public and private infrastructure. Additionally, the market will be further stimulated by the growing use of CMCs, composites, and polymer-based materials in construction.

Restraint:

Limited self-healing ability

Self-healing materials are designed to reduce the need for outside repair assistance. However, the technology used to accomplish this has a limit. The threshold establishes a cap on how many damages the self-healing material can support. When the self-healing component of the material is exhausted, it can no longer heal itself. The active self-healing agent functions similarly when certain triggers are received by it. Additionally, it only functions in specific temperature and pressure ranges. Such restraints may prevent the market from expanding.

Opportunity:

Low maintenance costs and increasing demand for electronics

The maintenance costs associated with self-healing materials are extremely low. As a result, maintaining such materials does not require a separate budget, allowing for a long amortization period. In addition, as disposable income rises, so does the demand for consumer durables. The demand for electronics is sure to rise as more market players compete to offer consumers the best products at competitive prices. The self-healing material market will expand in response to the rising demand for electronics.

Threat:

High prices and lack of skilled professionals

The high cost of self-healing materials is one of the major challenges facing the market for these materials. Due to the high cost of materials of such high quality, many small manufacturers and businesses are forced to turn to less expensive substitutes. Furthermore, skilled workers with industry knowledge are required to install and maintain these materials. As a result of the materials' limited ability to self-heal, there is a shortage of qualified workers, which further hinders the market.

Covid-19 Impact

The COVID-19 pandemic has had a major impact on the market for self-healing materials, and numerous end-use industries have suffered as a result. This can be attributed to the temporary lockdowns and other stringent rules that governments around the world implemented to stop the virus's spread. This caused numerous significant end-use industries, such as the automotive and building and construction sectors, to temporarily shut down, which had a very negative effect on the demand for self-healing materials. However, the sector began to rebound, and from that point forward, the market has been driven by steady growth in the automotive, building, and aerospace sectors.

The reversible polymers segment is expected to be the largest during the forecast period

The reversible polymers segment dominated the market with a market share of about 39% in 2021 and is predicted to continue to do so throughout the forecast period. One of the main causes for the segment's dominance in the market for self-healing materials is the expanding applications of reversible polymers in medicine. Reversible polymers are intelligent polymers used in therapies, self-healing, drug delivery, and precision medicine. Reversible polymers are used in 3D bioprinting, cell therapy, and medical devices. Reversible polymers will be in high demand in the healthcare sector as a result of the aging population, fueling the segment's expansion.

The asphalt segment is expected to have the highest CAGR during the forecast period

The asphalt segment is anticipated to grow at the highest CAGR during the forecast period. Bitumen, one of the primary materials used in construction or building processes, is compatible with self-healing asphalt. It is stable at high temperatures and has a therapeutic temperature range. It can withstand the conditions of construction while continuing to heal. These characteristics enable asphalt to lessen the possibility of paving and roads aging too quickly. Asphalt has numerous uses in addition to the many benefits it offers. It is employed in roof construction, soundproofing, waterproofing, and floor tiling, among other construction tasks. The self-healing material market is expected to experience exponential growth in the asphalt segment due to the rise in infrastructure spending around the world.

Region with largest share:

North America accounted for the largest market share for self-healing materials, and it is anticipated that it will continue to hold this position throughout the forecast period. To build infrastructure and provide housing for its citizens, the North American government increased funding for the construction sector. This can be attributed to the region's rapidly expanding construction and building sector. The industry is primarily driven by the presence of a well-established automobile manufacturing base and a rapidly expanding construction market, particularly in Mexico and Canada, in addition to the United States. The market for self-healing materials in the region, particularly in the United States, is growing as a result of numerous research and development projects carried out by numerous industry participants as well as universities.

Region with highest CAGR:

During the projection period, Asia-Pacific is anticipated to grow at the highest rate. The region's growth is primarily driven by rapid industrialization, a dense population, and rising foreign direct investments (FDIs) in the electronics and automotive industries. In order to tap into a sizable customer base, major players from developed economies are also expanding their manufacturing capabilities and moving their production facilities to Southeast Asia. The growth and development of self-healing materials in this region are also likely to be supported by favorable government trade policies and rising GDP growth rates.



Key players in the market

Some of the key players profiled in the Self-Healing Materials Market include Acciona SA, Akzo Nobel N.V., Applied Thin Films Inc., Arkema SA, Autonomic Materials Inc., BASF SE, Bayer AG, Covestro AG, Devan Chemicals, Evonik Industries Corp., High Impact Technology, LLC, Huntsman International LLC, MacDermid Autotype Ltd., Michelin Group, NEI Corporation, Sensor Coating Systems Ltd., Slips Technologies Inc., The Dow Chemical Company and The Goodyear Tire and Rubber Company.

Key Developments:

In May 2023, Peru’s Private Investment Promotion Agency (Proinversión) and ACCIONA have signed a concession contract for the design, financing, construction, operation and maintenance of two new power transmission lines that will benefit 370,000 people across Ica and Poroma, in southern Peru, and Cáclic and Jaén, in the north of the country.

In May 2023, Arkema acquires Polytec PT, specialized in adhesives for batteries and electronics. With the planned acquisition of Polytec PT, Arkema will strengthen Bostik’s product offer to serve the fast-growing batteries and electronics markets. This bolt-on acquisition is part of the Group’s strategy to become a full system provider and support its customers to develop sustainable solutions for the batteries and electronics markets.

Material Types Covered:
• Concrete
• Asphalt
• Ceramic
• Coatings
• Fiber-reinforced Composite
• Metals
• Polymers

Forms Covered:
• Extrinsic
• Intrinsic

Technologies Covered:
• Biological Material Systems
• Microencapsulation
• Reversible Polymers
• Shape Memory Materials
• Other Technologies

End Users Covered:
• Automotive and Transportation
• Building and Construction
• Consumer Goods
• Electronics and Semiconductors
• Energy generation
• Healthcare
• Medical
• Mobile Devices
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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