Self-Healing Materials Market By Material Type (Polymers, Metals, Ceramics, Coatings, Concrete, and Asphalt), By Type (Reversible Polymers, Microencapsulation, Shape Memory Materials, and Biological Material Systems), By End-Use Industry (Building & Construction, Automotive, Paints & Coatings, Consumer Electronics, Healthcare, Manufacturing, and Aerospace) - Analysis & Forecast 2020-2030.
Report ID : 363 | Published Date : Jul 2020 | Pages : 180 | Region : Global | Report Code : SC -1
Self-Healing Materials Market Overview and Introduction
Self-healing materials have the ability to recover/heal or repair damages by themselves. The first self-healing material was polymers (built from repeating and long molecules), developed by Scott White, Nancy Sottos, and colleagues from the University of Illinois at Urbana-Champaign in 2001. Since 2001, a wide range of self-healing materials has been developed including metals, ceramics, coatings, concrete, and asphalt. Self-healing technology-based materials are gaining popularity in various end-use industries as they can fill the gaps, harden cracks, and restores chemical, mechanical, and other functional properties of the material.
The increasing adoption of self-healing materials in the construction industry is driving the market growth. Also, the growing utilization of self-healing material-based coating in the automotive industry is expected to boost the market growth. Moreover, it reduces the maintenance costs required for restoring damages, and new product launches by key players for various end use industries, are also fueling the market growth.
In the reversible polymer technology, advancements associated with the medical industry are likely to propel the market growth during the forecast period. Moreover, on-going R&D activities to develop better alternatives in the market are expected to create new growth opportunities in the market. For instance, biologists are working on self-growing bricks and self-healing building materials based on bacteria.
However, fluctuations in the prices of raw materials and the high costs associated with self-healing material are the major factors the market growth. Additionally, the lack of awareness regarding the benefits associated with self-healing materials in certain geographical regions, including the Middle East and Africa, is restraining the market growth to a certain extent.
The global self-healing materials market can be segmented into material type, type, end-use industry, and region.
Self-Healing Materials Market By Material Type
Based on material type, the market can be segmented into polymers, metals, ceramics, coatings, concrete, and asphalt. Polymers accounted for the largest market share in 2019 and expected to grow at a healthy CAGR for the next few years. The growth of this segment can be attributed to the increasing utilization of polymer-based coating for different applications including automotive surface care, aircraft coatings, steel coatings, and others. Moreover, the emergence of glass material developed from self-heal polymer material is expected to create huge opportunities for this segment.
Self-Healing Materials Market By Type
Based on technology, the market can be segmented into reversible polymers, microencapsulation, shape-memory materials, and biological material systems. Reversible polymers accounted for the largest market share in 2019 and are expected to grow with a healthy CAGR for the next few years. The growth for this segment can be attributed to the increasing utilization of reversible polymers in the healthcare industry for manufacturing medical devices and drug delivery systems. Additionally, the growing adoption of reversible polymer-technology-based self-healing materials for coating applications in the automotive industry is expected to boost the market growth of this segment.
Self-Healing Materials Market By End-Use Industry
Based on end-use industry, the market can be segmented into building & construction, automotive, paints & coatings, consumer electronics, healthcare, manufacturing, and aerospace. The consumer electronics segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the growing implementation of self-healing technology-based materials in mobile phone bodies and other accessories. For instance, Apple and LG are market leaders that are working on the development of laptops, desktops, and mobile phones that are built with self-healing materials.
Self-Healing Materials Market By Region
Based on region, the global self-healing materials market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America accounted for the largest market share in 2019 owing to the high adoption rates, presence of several key players, and the extensive utilization of self-healing materials for commercial construction projects. However, the Asia Pacific region is expected to grow at the highest CAGR owing to the presence of high-potential countries such as Japan, China, India, and South Korea. Moreover, the increasing utilization of self-healing materials for road construction is supplementing the market growth in this region.
Self-Healing Materials Market Prominent Players
Some of the prominent players in the self-healing materials market include ACCIONA, applied thin films inc., Arkema, Autonomic Materials, Inc., BASF SE, Evonik, FEYNLAB Inc., Goodyear Tire & Rubber Co, and PPG Industries, Inc., among others.