Report Ocean presents a new report on self-healing materials market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
The self-healing materials market will grow at a compound annual growth rate (CAGR) of 62.9% during the forecast period from 2021-2030.
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Self-healing materials automatically repair themselves without requiring any external support. Polymers and elastomers are the commonly used self-healing materials.
Due to a large number of traditional concrete buildings, the chances of micro-cracks are high. Such activities can cause leakage problems which can lead to corrosion and enhance the chances of collapse. Construction engineers are adopting self-healing materials to avoid such situations. Thus, the growing adoption of self-healing materials would eventually boost the growth of the market.
Several market players are working on creating cheaper options for self-healing materials. The decline in the cost would increase its adoption in the market. Thus, the global self-healing product market is forecast to grow during the analysis period.
Moreover, growing R&D activities for the advancements in self-healing technology would create lucrative opportunities for the key market players. Prominent companies and research institutes are investing in the advancements of self-healing materials. Recently. Indian scientists developed a material that can rapidly recover itself without any external support. Moreover, the material does not require any external trigger to support the activity. Such developments are expected to surge the growth of the market during the forecast period.
However, the high costs of self-healing materials are likely to decline its adoption in the market. This, in turn, would slow down the growth of the global self-healing material market during the forecast period.
COVID-19 Impact Analysis
COVID-19 pandemic impacted almost every business industry. The global self-healing materials market, being one of them, was severely affected during the COVID-19 pandemic. The lockdown halted the import and export of raw materials used for making self-healing products. Moreover, the demand for self-healing materials also declined severely, which created a further setback in the growth of the market.
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Global Self-Healing Materials Market – Regional Insights
Europe holds the maximum share in the global self-healing product market. The wide application of self-repairing polymers in European countries like France, Germany, Spain, etc is the key factor behind the dominance of the region. Moreover, the growing automobile industry in the region and increasing R&D activities would propel the growth of the market in the upcoming years. Apart from that, North America is expected to witness significant growth, owing to the expansion of the construction and transportation industry in the region. The growing number of construction activities in the region is expected to boost the demand for self-healing materials. Moreover, advancements in the automobile industry would exceed the demand for the material during the forecast period.
Competition In The market
Acciona, S.A. (Europe)
Michelin North America Inc. (United States)
Apple Inc. (United States)
MacDermid Autotype Ltd. (United Kingdom)
Goodyear (United States)
BASF SE (Germany)
Bayer AG (Germany)
Akzo Nobel N.V. (Europe)
Huntsman International LLC (United States)
Stratosphere S.A. (Europe)
Adaptive Surface Technologies (Europe)
DuPont (United States)
Slips Technologies, Inc. (Europe)
Other prominent players.
Market Segmentation
By Form
Intrinsic
Extrinsic
Capsule-Based
Vascular
By Material Type
Asphalt
Coatings
Polymers
Concrete
Fiber-Reinforced Composites
Ceramic
Metals
By End-User
Building & Construction
Mobile Devices
General Industrial
Transportation
Automotive
Aerospace
Others
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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