Market Overview:
Development of technologically
advanced and innovative materials have reduced the need for maintenance that is
required to repair the damages. Self-healing
materials have the ability to repair physical damages without human intervention.
Market Research Future (MRFR) has published a detailed report stating that the
global self-healing materials market is marked to expand at a notable growth
rate during the forecast period of 2017-2023.
Market Drivers and Restraints:
Self-healing materials are extensively
utilized in various end-use industries
such as automotive, construction, aerospace, healthcare, electronics and
others. High demand for these materials from rapidly expanding end-use industries is leading to the significant growth of the global
self-healing materials market. Increased research expenditure for the
development of innovative products that can aid in reducing the maintenance
cost and utilization of technologically advanced solutions are some other
factors that are propelling the expansion
of the global self-healing materials
market during the assessment period.
However, the high cost of these materials
is likely to act as a restraining factor on the
expansion of the global market for self-healing materials during the
forecast period.
Market Segmentation:
The global self-healing materials market has been segmented into type,
technology, and application. Based on product type, the self-healing materials
market has been segmented into concrete, coatings, polymers, fiber reinforced composites, asphalt, metals,
and ceramics. Based on technology, the self-healing materials market has been
bifurcated into reversible polymers, microencapsulation, shape memory
materials, and biological material systems. Based on application, the
self-healing materials market has been segmented into energy generation,
automobile & transport, electrical & semiconductor,
building & construction, medical, and others.
Regional Analysis:
Geographically, the global
self-healing materials market has been segmented into five major regions such
as Asia Pacific, Latin America, Europe, North America, and the Middle East and
Africa. The Europe region is projecting dominance over the global self-healing
materials market owing to the extensive
research that is being carried out for the development of innovative materials
that possess self-healing properties and increasing utilization of advanced
technology for manufacturing such materials in this region. Rapid advancement of technology and skyrocketing
demand for self-healing materials in various end-use industries are
propelling the growth of the self-healing
materials market in the North America region. Growing infrastructural
development and increasing utilization of technologically advanced solutions in
construction and building industries in the emerging economies are fueling the expansion of the self-healing materials
market in the Asia Pacific region. Rapid
expansion of various end-use industries in the
developing countries of the Asia Pacific region is also contributing to the
growth of the self-healing materials
market in this region. The Middle East and Africa region is projecting slow growth in the global
self-healing materials market owing to the poor economic conditions, lack of
awareness regarding the availability of such materials and low demand form the
end-use industries in this region.
Industry Updates:
In December 2018, researchers at the Department of Material Sciences and Engineering
from City University of Hong Kong have developed an electroluminescent (EL)
device that has self-healing properties.
In December 2018, it has been
announced that the team of researchers at the University of Cambridge are using
micro-encapsulation technologies for the development of self-healing
construction materials.
Key Players:
Some of the key players profiled by MRFR that are operating in the
global self-healing materials market are AkzoNobel N.V.
(Netherlands), Arkema SA (France), Autonomic Materials Inc. (the U.S.),
Avecom N.V. (Belgium), BASF SE (Germany), Covestro AG (Germany), Critical
Materials S.A. (Portugal), E.I. Du Pont De Nemours and Company (the U.S.),
Evonik Industries (Germany), Sensor Coating Systems Ltd. (the U.K.), and
others.
To
Browse Report with TOC Visit@ https://www.marketresearchfuture.com/reports/self-healing-materials-market-5503
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