Self-Healing Materials Market Size & Share 2018 : Segmented by Type, Application, and Geography - Growth, Trends and Forecast 2018 - 2023
Global Self-Healing Polymer Market Information- by Form (Capsule Based, Vascular, and Intrinsic), by End Use Industry (Paints & Coatings, Building & Construction, Electrical & Electronics, Aerospace, Healthcare and Others) and by Region- Forecast till 2023
Pune, India -- (SBWire) -- 08/14/2018 --Self-Healing Polymer Market - Overview
Self-Healing Polymer is designed to reconcile (heal) the crack or other damages automatically on its own. Used as a base material in several products such as concrete, rubber, plastics, fibers, and paints & coatings, this Polymer can not only resist the attack but also quickly recover from the degradation caused due to the time (archaic) or mechanical friction. Due to its self-healing property, this Polymer is extensively used as encapsulating material for fuel tanks on military helicopters and phone screens, among several other products that are prone to the risk of shattering in their lifetime.
However, the best part about Self-Healing Polymer is that it can efficiently fight out fatigue that slowly weakens the concrete over time, causing microscopic damages; to the buildings. Another simply logical application of Self-Healing Polymer is in fiber-reinforced composites made from brittle polymers, which are susceptible to micro-cracking when subjected to thermo-mechanical loading common to their application environment such as aerospace, and automotive.
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According to the recently published report by Market Research Future (MRFR), the global market of Self-Healing Polymer is booming and expected to gain further prominence over the forecast period (2017 – 2023). The market is estimated to perceive a voluminous growth by 2023, registering a phenomenal CAGR during the said period. The extensive demand for the product from the end-user industries such as Building & Construction, Paints & Coatings, Electrical & Electronics, Healthcare, and Aerospace, among others drive the market growth.
Additionally, other factors propelling the market growth include; growing population, growing urbanization & industrialization that increases the need for construction & infrastructure development. The improving economy increases consumer's purchasing power across the globe, providing impetus to the market growth. Automotive industry accounts for the largest consumer of paints & coating products, witnessing the increasing demand and production of automobiles worldwide.
Other burgeoning industries contributing to the market growth include aerospace, electronics, and, architecture among others. On the other hand, volatility in the price, demand & supply of raw material hampers the market growth up to some extent. Also, unawareness towards the benefits associated with the material among some of the end-user industries is expected to restrict the market growth in the next few years.
Nevertheless, the newly found application area of the Self-Healing Polymer, medical devices is projected to fuel market growth. Increasing usage of this material in the development of artificial organs is expected to boost market growth over the forecast period.
Self-Healing Polymer Market - Competitive Analysis
This market appears to be highly competitive and fragmented. Innovation, mergers & strategic partnership, and brand reinforcement remain the key trends for leading players.
Industry/ Innovation /Related News:
May 8, 2018 – The Lubrizol Corporation (US) a leading global provider of specialty chemicals and engineered polymers presented its latest product – Estane(R) TPU high-performance solutions for surface protection and graphics at the NPE 2018. The company showcased the benefits of plasticizer-free Estane TPU (Thermoplastic Polyurethane) in applications such as self-healing materials, graphics vehicle wraps, paint protection, graphics media, automotive interiors, signage, wind energy, flooring, consumer goods and architectural.
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Self-Healing Polymer Market - Segmentation
MRFR has segmented the analysis into three Key dynamics.
By Forms: Comprises - Capsule Based, Intrinsic and Vascular.
By End-Use Industries: Building & Construction, Paints & Coatings, Electrical & Electronics, Healthcare and Aerospace, among others
By Regions: North America, Europe, APAC and Rest of the World.
Segment: Capsule based by Forms accounts for the largest segment in the global market.
Self-Healing Polymer Market - Regional Analysis
The Asia Pacific region is expected to lead the Global Self-Healing Polymer Market. The increase in the research and development activities for the Self-Healing Polymers is driving the regional market. Besides, APAC is the largest producer and consumer of the product. Owing to the augmented demand from the end-user industries such as building & construction and paints & coatings, mainly in India & China the region is likely to continue with its dominance. The construction sector, backed by the growing population and improving the economy and the automotive industry, which consumes paint and coatings extensively drives the market growth in the developing countries such as India, Japan, China, and Vietnam. This, in turn, drives the regional market growth.
The MEA Self-Healing Polymer Market is expected to become one of the fastest growing markets. Huge investments transpired in infrastructure and buildings in some of the GCC countries such as Saudi Arabia, and UAE (United Arab Emirates) are expected to influence the market growth positively. Furthermore, technological advancements and rising R&D activities in Israel are anticipated to fuel the regional market growth.
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