New Jersey, NJ, Sept. 25, 2019 (GLOBE NEWSWIRE) -- Increasing demand for conserving the infrastructure and growth in building and construction industry are the two major factors affecting the growth of the market. The global self-healing concrete market is expected to grow from USD 229.32 million in 2017 to USD 312.45 million by 2025 at a CAGR of 28.3% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Self-healing concretes are defined as bio concretes which are produced with the help of Genus Bacillus bacterium group of bacteria which can survive in the alkaline concrete environment for years and produce limestone that can fill up and repair the crack. Supportive environmental conditions such as presence of water, nutrients, and oxygen helps spores to germinate and grow into vegetative active bacterial cells. Moreover, sealing of cracks and therefore, protecting steel frameworks from external forces, which reduces the chance of corrosion, in turn expands the life of concrete structures. These materials are designed to repair damages at the micron scale, effectively impeding the propagation of the damage and extending the shelf-life of the material.
Expanded life of civil infrastructures, ease of utilizing the product, and minimized maintenance cost promotes the growth of the market. Growth in building and construction industry is another key driver aiding to the growth of this market. Also, increasing demand for conserving the infrastructure is also stimulating the growth of the market. But self-healing materials costs more than conventional materials which might obstruct the performance of the market. However, it is widely applicable due to its reliability and durability which is anticipated to boost the market growth in the coming years.
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Key players in the self-healing concrete market are Bayer Material Science, High Impact Technology, Dow Chemicals, Michelin, Nissan, Huntsman, Akzo Nobel, MacDermid Autotype Ltd., Autonomic Materials, and Goodyear, Basilisk, Acciona Infraestructureas S.A., Avecom N.V., Comercializadora Espanola De Innovaciones Y Materiales, COWI A/S, Devan-Micropolis, Fescon, and among others. In order to enhance their market position in the global the self-healing concrete market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership..
- For instance, in December 2016, BASF SE acquired Chemetall GmbH who is a producer of specialty chemicals and surface treatment products.
- In 2017, Green Basilisk self-healing concrete receives VC investment. Green Basilisk has developed a self-healing agent that can be added to repair products or virgin concrete that closes cracks in the concrete.
The capsule-based healing segment dominated the market with the highest share of 48.90% in 2017
The type segment is classified into intrinsic healing, capsule-based healing, and vascular healing. The capsule-based healing segment dominated the market and valued around USD 152.79 million in 2017. The growth of the segment is due to its various benefits that include healing of larger cracks, less external requirements to regain full strength and self-protection during mixing.
Civil infrastructure segment dominated the market and valued around USD 159.97 million in 2017
The end use segment is segmented into residential & commercial, industrial and civil infrastructure. Civil infrastructure segment dominated the market with the highest share in 2017. The use of self-healing concrete in civil infrastructure is expected to improve the strength of dams, tunnels, and roads. It would help to increase the durability of various civil engineering structures that includes tunnels and bridges among others and would also minimize the maintenance cost in the long run. All these factors are expected to propel the self-healing concrete market in civil infrastructures.
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Region Segment Analysis of the Self-healing Concrete Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global self-healing concrete market with USD 133.10 million in 2017 where as the North America region is growing rapidly in the market. The Europe region is dominating the market as it is a hub of huge construction and multiple research projects in the region. Asia Pacific is anticipated to grow rapidly owing to the increasing applications in construction. In particular, economic development in countries such as China and India prove to be the most lucrative market in future.
About the report:
The global self-healing concrete market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), import (Kilotons), and export (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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