The self-healing materials industry size estimated at US$ 1.61 billion in 2022 is anticipated to grow at a CAGR of 25.5% from 2022 to 2032. Materials that are capable of self-healing are stimulated by changes in pH, UV light, and other environmental factors, as well as by physical harm like a microcrack influencing the self-healing material adoption trends.
The demand for self-healing materials and self-healing material market future trends has suffered as a result. Due to the presence of multinational corporations working constantly on R&D projects to find cutting-edge technologies, self-healing material market opportunities are encouraged in the United States.
The pandemic has caused a decline in the self-healing material market’s key trends and opportunities. Due to the temporary shutdown, had an effect on the operations of many important end-use industries, including the automotive, building, and construction sectors, and the self-healing material market.
Microcapsules are designed to be durable enough to withstand both the production process and the consumption of the substances in their intended use. The self-healing material market is expected to expand significantly in the coming years, and these materials support lowering the frequency of the maintenance costs necessary to repair the damage.
Self-healing materials are now being used by the majority of semiconductor and electronics market participants, including Apple and Samsung, in items like laptops, smartphones, desktop computers, and high-end cameras.
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Self-healing materials are expected to be consumed at a higher rate as a result of the steady rise in the sales of smartphones and laptops and innovations in their design, positively impacting the self-healing material market key trends and opportunities.
The primary factor preventing the self-healing material market from growing is the high cost of products as self-healing materials are currently more expensive than conventional materials. If the cost factor is managed in the upcoming years, the factor is anticipated to challenge the future demand for self-healing material.
Key Takeaways:
- The self-healing material market’s product insight was led by the concrete segment in 2022, which also had the largest revenue share of about 27%.
- The self-healing material market’s technology segment was led by the segment of reversible polymers in 2022, which had a revenue share of 35.0%.
- Building and construction held the largest revenue of the self-healing material market share of 34% in 2022 and led the self-healing material market.
- In 2022, Europe held 28.4% revenue of the self-healing material market share and dominated the self-healing material market.
- With a projected CAGR of 30.5% by the end of 2032, Asia Pacific is predicted to generate the highest self-healing material market revenues in the near future.
Competitive Landscape:
A new market research report on self-healing material says that
- The Dow Chemical Company
- Covestro AG
- High Impact Technology, LLC
- Huntsman International LLC
- Michelin Group
- MacDermid Autotype Ltd.
- Akzo Nobel N.V.
- Evonik Industries Corporation
- BASF SE
- NEI Corporation
The research offers a comprehensive competition analysis of these top competitors in the self-healing material market, including self-healing material market growth, self-healing material market share, self-healing material market key trends and opportunities, and important self-healing material market statistics.
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Recent Development in the Self-healing Material:
- Chemetall GmbH, a manufacturer of specialty chemicals and surface treatment products, was acquired by BASF SE in December 2016.
- The process of self-healing cured coatings was patented by BASF SE in June 2014.
- The Specialty & Coating Additives business of Air Products (U.S.) was acquired by Evonik Industries in May 2016, strengthening its dominant position in the high-margin specialty & coating adhesives market.
Key Segments
By Product:
- Concrete
- Coatings
- Polymers
- Asphalt
- Fiber-reinforced Composites
- Ceramic
- Metals
By Technology:
- Reversible Polymers
- Microencapsulation
- Shape Memory Materials
- Biological Material Systems
- Others
By Application:
- Energy Generation
- Building & Construction
- Automotive & Transportation
- Electronics & Semiconductors
- Medical (Implants & devices)
- Others
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