Selbyville, Delaware , Jan. 18, 2024 (GLOBE NEWSWIRE) -- Self-healing materials market size is estimated to be valued at USD 13.8 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The increasing demand for sustainable and durable materials across the construction and automotive industries will fuel the market growth. Self-healing materials autonomously repair damages for enhancing longevity and reducing maintenance costs. To that end, the rising focus of the construction sector on resilient and long-lasting infrastructure along with the growing pursuit of the automotive industry on advanced materials for vehicle components will accelerate the product demand. The rapid technological advancements in microencapsulation and vascular systems are further expanding the scope of self-healing technology. The growing awareness of environmental sustainability and the rising need for eco-friendly solutions will also drive the market development.
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Ceramic self-healing materials to record higher adoption
Self-healing materials market share from the ceramics material segment is projected to rise at substantial CAGR from 2024 to 2032. The growth can be attributed to the inherent durability and resistance of ceramics to harsh conditions and extended service life, further reducing the need for frequent replacements. The increasing demand for robust materials in applications like construction and manufacturing coupled with the ongoing research and innovations in ceramics technology will also drive the preference for ceramics.
Microencapsulation segment to accumulate substantial share
The microencapsulation technology segment is estimated to accumulate sizeable revenue share of the self-healing materials market by 2032, due to its capability to encapsulate healing agents within materials. Microencapsulation technology allows controlled release of healing agents when damages occur whilst facilitating autonomous repair. Moreover, the increasing demand for durable and sustainable materials in various industries along with rising advancements in microencapsulation techniques will boost the segment growth.
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Growing product preference in Europe
Europe self-healing materials market size is projected to expand at rapid pace from 2024 to 2032. The growth can be attributed to the rising emphasis on sustainable construction practices and the high demand of advanced materials from the automotive sector. Furthermore, the influx of stringent regulations for promoting eco-friendly solutions and the rising need for durable infrastructure will fuel the adoption of self-healing materials in the region. The ongoing R&D activities coupled with the increasing awareness of the long-term benefits of self-healing materials will drive the regional market expansion.
Self-healing Materials Market Participants
Some of the prominent firms operating in the self-healing materials industry are Acciona S.A., Akzo Nobel N.V., Applied Thin Films Inc, Autonomic Materials, Inc., Avecom N.V., Covestro AG, Critical Materials S.A., Devan Chemicals NV, DuPont de Nemours, Inc., Huntsman Corporation, NEI Corporation, PPG Industries, Inc., Sensor Coating Systems Ltd., Slips Technologies, Inc., Tnemec Company, Inc. These industry players are focusing on new product launches to cater to the escalating end-user requirements. For instance, in August 2022, BASF’s paint-related product brand RODIM introduced thermoplastic polyurethane paint protection film to offer improved car paint protection.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
