Self-healing Materials Market Forecast to 2023:
Self-healing materials are artificially created substances that possess self-healing properties without the exertion of any external force. These materials repair themselves and are highly demanded owing to their self-healing capacities that reduce the extra cost of maintenance. The self-healing process of these smart materials starts with responding to change in external stimuli such as temperature, light, and others. The most commonly used self-healing materials are elastomers and polymers, whereas it covers a wide range of materials from metals to ceramics. The global self-healing materials market is expected to expand at an encouraging CAGR during the forecast years. The ability of self-healing materials to repair itself substantially helps in reduction of the maintenance and repairing cost which paves their path into many end-user industries such as energy, pharmaceuticals, building and construction, electronics, and automobiles among others.
Among the various product segments in self-healing materials market, the concrete segment is expected to be the dominant product type, and asphalt is anticipated to show an accelerating CAGR during the forecast period. The various properties including lightweight, chemical & physical stability, and processibility makes them highly demanding from the building and construction industry, whereas the growing application of asphalt in road construction coupled with its ability to reduce greenhouse emissions is contributing to the growth of the segment. On the basis of the technology, reversible polymers are the dominant segment, and microencapsulation technology is expected to witness the highest growth. The growth of the reversible polymer segment is attributed to the growing application in the medical devices and drug delivery systems.
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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.
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.
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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.
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.
Autonomic Materials Inc.
Critical Materials S.A.
E.I. Du Pont De Nemours and Company
Sensor Coating Systems Ltd.
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