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.
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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.
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.
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