(MENAFN- PR Newswire) NOIDA, India, Nov. 24, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the
self-healing material market is expected to reach at USD 1.2 billion in 2020, growing at a CAGR of 50% from 2021-2027. The analysis has been segmented into Material Type (Concrete, Coatings, Polymers, Asphalt, Fiber-Reinforced Composite, Ceramic, Metals, and Others); Industry (Building and Construction, Transportation, Electrical and Electronics, General Industrial, Healthcare, and Others); Region/Country.
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The Self-Healing Material market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Self-Healing Material market. The Self-Healing Material market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Self-Healing Material market at the global and regional levels.
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Market Overview
Self-healing materials are materials or products which are artificially created and have the built-in ability to autonomously heal damage to themselves without external or human participation. Self-healing materials repair themselves and are high in demand due to their self-healing capability which can reduce the extra cost of maintenance. Modern self-healing materials are
glass, rubber, plastic, metals, and others. These materials may heal stresses at the micro level such as small cracks. This can considerably improve the lifespan of the material. Currently, self-healing materials development is either at the preliminary or product level and so these materials are yet to be available for many applications. Applications of self-healing materials are expected almost entirely in all industries in the future. The very few applications being developed to date are mainly in the automotive, aerospace, and building industries. For example, Nissan Motor Co. Ltd has commercialized the world's first self-healing clear coat for car surfaces .
Some of the major players operating in the market include Acciona S.A., E.I. Du Pont De Nemours and Company, Arkema S.A., Evonik Industries AG, BASF SE, Covestro AG, Sensor Coating Systems Ltd., AkzoNobel N.V., Adaptive Surface Technologies, Inc., Applied Thin Films, Inc.
COVID-19 Impact
Due to travel limitations and the projected dismal financial performance of market players in 2020, the spread of the COVID-19 pandemic has hurt the Self-Healing Material industry. All the market activities, and production and manufacturing sectors were suspended from functioning which had a bad impact on the supply chain mechanism and impacted the ability of the players to cater to the market demand.
The global Self-Healing Material market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on material type, the market is categorized into concrete, coatings, polymers, asphalt, fiber-reinforced composite, ceramic, metals, and others. Among these, concrete has a prominent share in the self-healing material market. Concrete is a conventional material largely used in construction. It is widely used in the construction of dams, ports, storage tanks, tunnels, roads, subways, and others. In spite of these, it is strong and durable. Based on industry, the market is categorized into building and construction, transportation, electrical and electronics, general industrial, healthcare, and others. Building and construction considerably have a large share in the market. As the population is increasing demand for buildings and houses is also increasing. Moreover, the rising use of self-healing materials in the non-residential construction sector, for durability and high strength is one of the factors driving the self-healing materials. Further, increasing public and private investments in construction activities is also a factor fueling the demand for self-healing materials in the construction & building sector.
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Self-Healing Material Market Geographical Segmentation Includes:
North America (United States, Canada, Rest of North America) Europe (Germany, UK, France, Italy, Spain, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, Rest of APAC) Rest of the World
Asia-Pacific region helped the region to obtain a considerable position in the market. Regional demand for construction is increasing for the growing and already higher population. Further, improving per-capita income and disposable income is encouraging consumers to purchase large numbers of products, thereby increasing the demand for self-healing materials from various sectors such as buildings and construction, healthcare, electrical and electronic, and others. In addition, the government of several countries is helping the industry in expansion by providing subsidies and creating policies.
For instance, China's draft '2022 Catalogue of Encouraged Industries for Foreign Investment', contains 1,435 items. These align with China's plans to attract foreign investments into high-tech manufacturing, production-oriented service industries, as well as regional advanced industries in the central, western, and northeastern regions. Opportunities also exist in industries linked to green, healthcare, elder care, sports, and vocational education sectors besides rural revitalization. Owing to such factors, the demand for self-healing materials would increase in the foreseeable future.
The major players targeting the market include
Acciona S.A. E.I. Du Pont De Nemours and Company Arkema S.A. Evonik Industries AG BASF SE Covestro AG Sensor Coating Systems Ltd. AkzoNobel N.V. Adaptive Surface Technologies, Inc. Applied Thin Films, Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the self-healing material market . The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Self-Healing Material market? Which factors are influencing the Self-Healing Material market over the forecast period? What are the global challenges, threats, and risks in the Self-Healing Material market? Which factors are propelling and restraining the Self-Healing Material market? What are the demanding global regions of the Self-Healing Material market? What will be the global market size in the upcoming years? What are the crucial market acquisition strategies and policies applied by global companies?
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self-healing material market Report Coverage
| Report Attribut e | Details |
| Base year | 2020 |
| Forecast period | 2021-2027 |
| Growth momentum | Accelerate at a CAGR of 50% |
| Market size 2020 | USD 1.2 billion |
| Regional analysis | North America, Europe, APAC, Rest of World |
| Major contributing region | APAC to Dominate the global self-healing material market |
| Key countries covered | United States, Canada, Germany, United Kingdom, Italy, France, Spain, China, Japan, India, Australia |
| Companies profiled | Acciona S.A., E.I. Du Pont De Nemours and Company, Arkema S.A., Evonik Industries AG, BASF SE, Covestro AG, Sensor Coating Systems Ltd., AkzoNobel N.V., Adaptive Surface Technologies, Inc., Applied Thin Films, Inc. |
| Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
| Segments Covered | By Material Type; By Industry; By Region/Country |
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