Publishing: January 2022 | Report Code: CM12225 | Available Format: PDF
The global self-healing materials market generated revenue around $1.1 billion in 2020, and it is projected to witness significant growth during the forecast period (2021–2030). The constant innovations in the advanced material domain aimed at self-healing, increasing adoption of these materials in the automotive, healthcare, and electronics industries, and their better long-term financial benefits compared to traditional materials are expected to boost the market growth.
During the COVID-19 pandemic, the self-healing materials market has been significantly affected, as many end-use industries have faced negative consequences. This can be attributed to the implementation of temporary lockdowns and other strict regulations by governments globally, in order to curb the spread of the virus. Due to this, many major end-use industries, including automotive and building & construction, were temporarily shut down, thus resulting in a significant negative impact on the demand for self-healing materials.
The polymer category held the largest share in the self-healing materials market in the past few years, and it is expected to grow by a considerable margin during the forecast period, based on material. This will mainly be due to the fact that polymers mimic biological healing and heal themselves without the need for any external intervention, when they suffer damage.
The building & construction category led the self-healing materials market in the historical period (2015–2020), based on application. This was primarily due to the increasing usage of such materials in non-residential construction. These materials have the capability to repair early-stage damage, which, if unchecked, could finally lead to material failure.
Globally, Europe held the largest share in the self-healing materials market in the past few years. This can be attributed to the wide usage of self-repairing specialty polymers in France, the U.K., and Germany. Further, the growing research activities in this field, for the creation of better self-healing materials, will keep driving the market in the region.
In recent years, several innovations in self-healing materials have been witnessed in the advanced material domain. These technological advancements have led to faster healing and enhanced restoration of the functionalities in these materials. This would trigger a new era of infrastructure preservation and environmental management technologies. Thus, R&D in advanced materials has become a major trend in the market for self-healing materials.
Self-healing materials help in increasing the lifespan of systems, as they repair the damages and further slow the increasing entropy. The most-significant applications of such materials are in the automotive, aerospace, building & construction, and oil & gas industries. The applications in the automotive industry include anti-scratch polyurethane coatings based on self-healing elastomers for automobile bodies. In the construction industry, self-healing asphalt is a major application. Oil-containing capsules are embedded in the bituminous binder to extend the life of asphalt roof covering. Thus, the expansion in these industries is leading to the growth of the market for self-healing materials.
|Base Year (2020) Market Size||~$1.1 Billion|
|Report Coverage||Market Trends, Drivers, and Restraints, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Impact of COVID-19, Companies’ Strategic Developments, Market Share Analysis, Company Profiling|
|Market Size by Segments||By Form, By Material, By Application, By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa|
|Secondary Sources and References (Partial List)||International Association of Advanced Materials (IAAM), Materials Research Society (MRS), American Society for Testing and Materials (ASTM), The Minerals, Metals & Materials Society (TMS), Society for the Advancement of Material and Process Engineering, Institute of Advanced Materials, Indian Association for Hydrogen Energy and Advanced Materials, European Advanced Materials Congress (EAMC)|
Some of the major players in the market are Acciona S.A., Applied Thin Films Inc., AkzoNobel N.V., Autonomic Materials Inc., Arkema Group, BASF SE, Covestro AG, The Goodyear Tire & Rubber Company, NEI Corporation, and Huntsman International LLC.
In recent years, players in the global self-healing materials industry have been involved in product launches in order to attain a significant position. For instance:
The self-healing materials market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Form
Based on Material
Based on Application
The global self-healing materials market generated $1.1 billion revenue in 2020.
The COVID-19 pandemic negatively affected the progress of the self-healing materials industry.
R&D in the advanced materials domain is the major trend in the self-healing materials industry.
The market for self-healing materials is booming because of the growing usage of such materials in the electronics and automobile industries.
Europe is the largest region in the market for self-healing materials.
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