Global Self-Healing Materials Market Revenue is Estimated to Reach USD 9.67 billion by 2030, Growing at a CAGR of 25.52%: Straits Research

Europe dominates the self-healing materials market, driven by rising consumer spending and multinational corporations' expansion, especially in France and Italy. Asia-Pacific anticipates a 30.5% CAGR, fueled by industrialization, dense population, and foreign investments in automotive and electronics sectors. Companies in Europe and North America are expanding into Southeast Asia, diversifying product lines to enhance sales and profitability.

New York, United States, March 12, 2024 (GLOBE NEWSWIRE) -- Self-healing materials have significant potential for sophisticated engineering systems, and these systems adapt to environmental stimuli nonlinearly and productively without external intervention. Self-healing technology and its science have advanced quickly, creating new self-healing polymers, polymer blends, polymer composites, and smart materials. Due to their outstanding qualities, self-healing materials have applications in numerous industries, including medicinal, electrical, aerospace, and coatings. The precision and design of self-healing materials are crucial for commercial manufacturing in various applications.

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Repair and Restoration without Human Intervention and Growing Knowledge Drives the Global Market

According to Straits Research, “The global self-healing materials market size was valued at USD 1.25 billion in 2021. It is projected to reach USD 9.67 billion by 2030, growing at a CAGR of 25.52% during the forecast period (2022–2030).” Self-healing materials contain microcapsules that rupture when mechanically injured, releasing healing chemicals at the damaged site. These agents polymerize and combine to restore structural and functional integrity by repairing the damage. Microcapsules are built to withstand the manufacturing process and the chemical consumption in their intended application. The future growth of the market for self-healing materials is projected to be significantly influenced by the ability of these materials to reduce the maintenance costs necessary to repair the damage.

Developing self-healing polymeric materials has constantly focused on science and materials engineering R&D specialists. Self-conductive materials are electronic or bioelectric materials produced by incorporating reversible linkages into conductive polymers and conductive fillers into self-healing polymers. NASA has utilized various self-healing methods for wiring structures and aeronautical engineering, with good outcomes and no scarring after healing. Reportedly, the average recovery time for self-healing systems is between 15 and 20 seconds.

Expansion of the Global Construction Industry Creates Tremendous Opportunities

Concrete is used material in building and construction projects. It is widely used to construct dams, ports, storage tanks, roadways, tunnels, and subways. Despite its toughness and resilience, it is prone to cracking, allowing numerous hostile chemicals and other substances to penetrate. These fissures and the deposition of chemicals into cracks cause infrastructure damage and diminish its durability. Self-healing procedures can repair cracks instantly since the self-healing process permits rapid therapy. Adoption of these cutting-edge technologies will drive market expansion throughout the forecast period. In a growing economy like India, one of the primary driving factors is the expansion of public and private infrastructure construction.

Regional Analysis

Europe dominates the self-healing materials market during the forecast period. Rising consumer spending and purchasing power, along with the rapid expansion of multinational corporations, particularly in France and Italy, are expected to drive industry growth. Asia-Pacific is anticipated to grow at a CAGR of 30.5% during the forecast period.

Key Highlights

  • Based on product, the market is segmented into concrete, coatings, polymers, asphalt, fiber-reinforced composites, ceramic, and metals. The concrete category dominates the market for self-healing materials due to its functional characteristics, which include high strength, minimal shrinkage and creep, durability, and cost-effectiveness.
  • Based on technology, the market is divided into reversible polymers, microencapsulation, shape-memory materials, and biological material systems. The reversible polymers category led the market for self-healing materials due to its widespread application across industries, particularly in the medical sector.
  • Based on application, the market is divided into Energy Generation, Construction, Transportation Electronics and Semiconductors, and The building and construction sector dominates the market for self-healing materials during the forecast period.
  • Europe dominates the self-healing materials market during the forecast period.

Competitive Analysis

The global self-healing materials market’s major key players are 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, Acciona S.A. (Spain), AkzoNobel N.V. (Netherlands), Applied Thin Films, Inc. (U.S.), Arkema SA (France), Autonomic Materials Inc. (U.S.), Avecom N.V. (Belgium), Covestro AG (Germany), Critical Materials S.A. (Portugal), Devan Chemicals (Portugal), E.I. Du Pont De Nemours and Company (U.S.), Evonik Industries (Germany), Sensor Coating Systems Ltd. (U.K.) and Slips Technologies, Inc. (U.S.).

Market News

  • In June 2022, Dow spotlighted silicone solutions for transportation and consumer applications at Silicone Expo 2022.
  • In June 2022, Dow’s recyclable packaging solution is certified to reduce 35% life cycle carbon emissions.

Global Self-Healing Materials Market: Segmentation

By Product

  • Concrete
  • Coatings
  • Polymers
  • Asphalt
  • Fiber-reinforced Composites
  • Ceramic
  • Metals

By Technology

  • Reversible Polymers
  • Microencapsulation
  • Shape Memory Materials
  • Biological Material Systems

By Application

  • Energy Generation
  • Construction
  • Transportation
  • Electronics and Semiconductors
  • Medical

By Regions

  • North America
  • Europe
  • Asia-Pacific

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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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