Self-Healing Materials Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1359
Global Self-Healing Materials Market size is witnessing an increasing demand in construction, automobiles and electronics industries. The market is likely to grow with a moderate CAGR in the period of 2017-2024. These materials autonomously repair the damage thereby extending their life spans.
Material aging and deterioration are the major challenges faced by the global construction industry. Self-healing plastics have a huge scope in the aerospace and aviation industries. These are the key factors for growth of self-healing materials demand in the near future, as they pose as a remedy to save the maintenance and replacement costs to a great extent in long run.
The global construction industry is witnessing growing application of self-healing concretes, composites and polymers which can repair cracks, punctures or other damages done to the surface when exposed to air, heat or water. Self-healing asphalt for the roads and highways construction are known to increase its lifespan. Also, self-healing cement and mortar for building construction is a growing market. These materials will soon replace the conventional materials that are presently being used in the industry. The heavy investments in construction industry by government as well as non-government bodies will have a positive influence on the global self-healing materials market.
In case of the aircraft, small damages in the assembly that are unseen by the human eye can cause destruction to the plane. The aviation industry has a vast demand for self-healing polymers-which would also reduce the maintenance schedule. Automobile sector is also beginning to shift its focus towards self-healing materials and is expected to drive the market from 2016 to 2024. Nissan Motor Co. Ltd. commercialized the world’s first self-healing clear coat for automobile surface under the trade name of Scratch Shield.
Self-healing electronic components are also in a R&D stage. Penn State University researchers have developed materials that can restore all its properties even after breaking them in half and can be used as dielectrics in wearable. The market is thus likely to see an exponential growth in the market size, both in terms of revenue and volume.
Other highly demanding markets for self-healing smart materials are the ship building industries, aircraft industries and the aerospace. These industries manufacture their vessels to carry people under high risks. Self-healing materials can repair the microscopic cracks and damages on the ship surface or space shuttle surface. Hence, to minimize risks associated with travelling via ships, aircrafts etc., these industries have led to a considerable growth in the self-healing materials market in the past few years.
Self-healing materials market is categorized into self-healing coatings, polymers & elastomers, biomaterials, metals, fiber-reinforced composites, asphalt etc., on the basis of product types. End-user industries to the self-healing materials market are construction works, automotive industry, aviation and aerospace, electronics sector, energy generation, military, and healthcare.
Owing to increasing self-healing materials research and development activities, North America is likely to be the significant self-healing materials market in the forecast period. The regional construction, electronics, and automotive industries are expected to drive the market. Thriving construction industry in China and other developing countries will make Asia Pacific region exhibit good growth aspects for the market.
However, the self-healing materials market growth is forecast to take up pace only over the coming years. At present, most of these materials are either in the idea generation level or the laboratory implementation level. Therefore, several applications of these smart materials are yet to be tested and commercialized. The filing of patents and its global acceptance of the product for commercial usage is posing a hindrance in the rapid commercialization of the materials.
Significant players in the self-healing materials market include Apple, Bayer, Acciona, Critical Materials, Alstom, CEINNMAT, Volkswagen, Autonomic Materials, Flame Spray Technology Duco, PPG, Devan, BASF, Evonik, Ford, SLIPS technologies, Encore, ATFI, Fescon, LG, General Motors, GKN Aerospace, NEI, Avecom, Nissan, and Sensor Coatings Systems.
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