Increasing urbanization and improving lifestyle is fueling the market for self-healing materials
- Himanshu Patni
- November 21, 2022
- Self-Healing Materials Market, Self-Healing Materials Market Growth, Self-Healing Materials Market Share, Self-Healing Materials Market Size, Self-Healing Materials Market Trends
- 0 Comments
The global self-healing materials market is likely to showcase a growth of around 50% during the forecast period. Owing to its properties it is widely used in a range of industries including construction, healthcare, electrical and electronics, metals, polymer, and others. As these industries’ production capacity is growing, increasing the demand for self-healing materials.
Over the years, there is a significant growth in urbanization and industrialization, and because of this the industries like building and construction, and transportation are increasing. Moreover, with the growing population worldwide the demand for the construction of new buildings and houses, and changes in the lifestyle of people have increased the demand for self-healing materials as they find applications in many areas. In the construction industry self-healing concretes are used in critical areas. Self-healing corrosion-resistant coatings are useful for structural metallic components such as steel for achieving long durability with reduced maintenance cost. Other areas of applications of self-healing materials are in medical segments. Biocompatible self-healing composite may extend the service life of artificial bone, artificial teeth, and so on. The very recent discovery of self-healing rubber may find applications in the toy industry.
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Based on material type, the market is categorized into concrete, coatings, polymers, asphalt, fiber-reinforced composite, ceramic, metals, and others. Among these, concrete has a prominent share in the self-healing material market. Concrete is a conventional material largely used in construction. It is widely used in the construction of dams, ports, storage tanks, tunnels, roads, subways, and others. In spite of these, it is strong and durable.
Based on industry, the market is categorized into building and construction, transportation, electrical and electronics, general industrial, healthcare, and others. Building and construction considerably have a large share in the market. As the population is increasing demand for buildings and houses is also increasing. Moreover, the rising use of self-healing materials in the non-residential construction sector, for durability and high strength is one of the factors driving the self-healing materials. Further, increasing public and private investments in construction activities is also a factor fueling the demand for self-healing materials in the construction & building sector.
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For a better understanding of the market adoption of self-healing materials, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The large base of the industry in the Asia-Pacific region helped the region to obtain a significant position in the market. Further, increasing focus on research & development activities to improve the adoption of latest technology is likely to propel the market for self-healing materials.
Global Self-Healing Materials Market Segmentation
Market Insight, by Material Type
• Fiber-Reinforced Composite
Market Insight, by Industry
• Building and Construction
• Electrical and Electronics
• General Industrial
Market Insight, by Region
- North America Self-Healing Materials Market
- United States
- Rest of North America
- Europe Self-Healing Materials Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Self-Healing Materials Market
- Rest of Asia-Pacific
- Rest of World Self-Healing Materials Market
Top Company Profiles
• Acciona S.A.
• E.I. Du Pont De Nemours and Company
• Arkema S.A.
• Evonik Industries AG
• BASF SE
• Covestro AG
• Sensor Coating Systems Ltd.
• AkzoNobel N.V.
• Adaptive Surface Technologies, Inc.
• Applied Thin Films, Inc.