Pune, India, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global self-healing materials market size is expected to reach $62.66 billion by 2028, exhibiting a CAGR of 62.5% between 2021 and 2028. The increasing adoption of CMCs, composites, polymer-based materials in construction buildings will encourage the healthy growth of the market, states Fortune Business Insights, in a report, titled “Self-Healing Materials Market, 2021-2028.” The market size stood at $1.29 billion in 2020.
In 2020, the global pandemic had a mixed effect on the consumer goods industry. The supply chain instability resulted in significant declines in consumer products prices, but had a smaller effect on some sectors such as food and drink, shipping, and consumer electronics. Insignificant cash flow, the adaptation of modern online and digital-first technologies, supply chain management, and inventory management, on the other hand, have been difficult obstacles for producers and vendors during the pandemic. As a result, businesses are focusing on developing and introducing innovative plans to respond to the new standard and set a new supply chain approach to sustain revenue and development in such challenging times.
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The Report Lists the Key Companies in this Market:
- Acciona S.A. (Alcobendas, Spain)
- AkzoNobel N.V. (Amsterdam, Netherlands)
- Applied Thin Films, Inc. (California, U.S.)
- Arkema SA (Colombes, France)
- Autonomic Materials Inc. (Illinois, U.S.)
- Avecom N.V. (Wondelgem, Belgium)
- BASF SE (Ludwigshafen, Germany)
- Covestro AG (Leverkusen, Germany)
- E.I. Du Pont De Nemours and Company (Delware, U.S.)
- Evonik Industries (Essen, Germany)
- Sensor Coating Systems Ltd. (London, U.K.)
- Slips Technologies, Inc. (Massachusetts, U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 62.5% |
| 2028 Value Projection | USD 62.66 Billion |
| Base Year | 2020 |
| Self-Healing Materials Market Size in 2021 | USD 2.10 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 80 |
| Segments Covered | By Form, By Product and Regional |
| Self-Healing Materials Market Growth Drivers | Acquisition of Air Products by Evonik Industries AG to Strengthen Business |
| Transportation Segment to Hold the Largest Share |
Acquisition of Air Products by Evonik Industries AG to Strengthen Business
Evonik Industries AG, based in Germany, a specialty chemicals company, completed the procurement of Air Products, Inc.'s specialty additives industry (Performance Materials Division) for approximately €3.5 billion. The transaction funding was accomplished in September and would comprise €1.6 billion in business assets, with the remaining portion backed by shares with an asset value of €1.9 billion. The acquisition will have an exceptional effect on this market as it will raise the adjusted earnings per share (EPS) of Evonik.
Rising Demand for Self-Healing Materials to Promote Market
For the past few decades, self-healing systems have seen major advancements. Various chemistry and material engineering R&D experts have been continuously engaged in creating self-healing polymeric materials, which will boost the market share. Self-conductive materials are electronic or bioelectric materials made by incorporating flexible bonds into inorganic nanoparticles through conductive fillers in self-healing polymers. NASA has used various self-healing devices for insulation frameworks and engineering design, with excellent performance and no scars after healing. In addition, the growing utilization of these materials in aerospace, rotorcraft, aircraft, and bulletproof applications in the defense sector will have an outstanding effect on the self-healing materials market growth.
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Transportation Segment to Hold the Largest Share
Based on form, the market is divided into intrinsic and extrinsic. The intrinsic segment is expected to hold the largest share during the forecast period due to its innate ability to restore the integrity of the material after damage.
Based on the product, the market is segmented into polymer, concrete, metal, coating, ceramic, asphalt, and fiber-reinforced composites.
Based on the application, the market is classified into transportation, consumer goods, building construction, energy generation, healthcare, and others. Transportation is expected to account for the high share due to the high demand for materials to maintain the structural integrity in vehicles.
Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
High Demand for Self-Healing Materials to Intensify Market in Europe
- Rising awareness about the benefits of self-healing materials such as durability, thermal stability, abrasion resistance, stiffness, and strength will fuel its demand in Europe.
- High demand for consumer goods, consumer electronics, and wearables will augment growth in Asia Pacific.
- The utilization of polymer-based self-healing materials in the aerospace and defense sector will push growth in North America.
- The increasing wind power construction activity is expected to accelerate the healing materials industry in the Middle East and Africa.
Emphasis on Improved Product Quality to Intensify Competition
Local producers are increasingly incorporating cutting-edge technology into their products. Manufacturers have been seen focusing on improving product quality and establishing solid manufacturing and export networks in order to achieve an edge over their competitors. Acciona S.A., AkzoNobel N.V., Arkema SA, BASF SE, Covestro AG, Du Pont, Evonik Industries, among others are some of the major players in the global market.
Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/self-healing-materials-market-102947
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Form Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Self-Healing Materials Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Self-Healing Materials Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Form (Value)
- Intrinsic
- Extrinsic
- By Product (Value)
- Polymer
- Concrete
- Metal
- Coating
- Ceramic
- Asphalt
- Fiber-Reinforced Composites
- By End-use Industry (Value)
- Transportation
- Consumer Goods
- Building & Construction
- Energy Generation
- Healthcare
- Others
- By Form (Value)
TOC Continued…!
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