The market size for self-healing materials is projected to reach USD 2,447.7 Million by 2021, at a CAGR of 95.0% during the forecast period. The growth of the market can be attributed to the properties of self-healing materials that yield long-term financial benefits compared to traditional materials. Building & construction is one of the major end-use industries for self-healing materials in emerging as well as developed economies.
Seattle, WA -- (SBWIRE) -- 03/24/2017 -- The report "Self-Healing Materials Market by Form (Extrinsic, Intrinsic), Material Type (Concrete, Coatings, Polymers, Asphalt, Ceramic, Metals), End-Use Industry (Building & Construction, Transportation, Mobile Devices), and Region - Global Forecast to 2021", The self-healing materials market was valued at USD 49.8 Million in 2015 and is projected to reach USD 2,447.7 Million by 2021, at a CAGR of 95.0% between 2016 and 2021.
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The growth of the market can be attributed to the properties of self-healing materials that yield long-term financial benefits compared to traditional materials. The application of self-healing materials has increased in building & construction and transportation industries in Europe and North America, owing to the growing awareness about the benefits of self-healing materials in these regions.
Extrinsic segment estimated to be a larger form type segment of the market in terms of value
The capsule-based subsegment is estimated to be a larger segment of the extrinsic self-healing materials market, in terms of value. This method relies on the release of an encapsulated healing agent into the damage zone, and is generally a once-off process as the functionality of the encapsulated healing agent cannot be restored. The scaling up from pilot scale to industrial scale production of self-healing materials in Europe is expected to lead to increased demand for self-healing materials, especially in the building & construction and transportation industries. Vascular systems are relatively less explored and are therefore costlier than the capsule-based systems.
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The asphalt segment, based on material type, is expected to register the highest growth during the forecast period
Three ways are being explored to make aged asphalt 'softer' and prevent or close as many microcracks as possible. In the first approach, oil-containing capsules made of porous sand are embedded in a binder. When a microcrack in bitumen develops and enters a capsule, the oil flows into the crack and partly fills the crack. The asphalt is rejuvenated by the diffusion of bitumen and oil, decreasing the stiffness of the bituminous binder. In the second approach, conductive fibers like steel wool are incorporated into bitumen. Bitumen melts by the heat generated by electric currents in these fibers, induced by an alternating magnetic field by a coil placed above the asphalt, resulting in crack closure and restoring the material properties. The principle of the induction heating approach has already been proven. To increase the conductivity, electrically-conducting fibers appear to be much more efficient than non-fibrous fillers.
Self-healing materials market in Rest of the World (RoW) is estimated to witness growth during the forecast period
Europe is the largest market for self-healing materials, in terms of value, followed by North America and Asia-Pacific. The U.S., Germany, China and Japan are the largest consumers of self-healing materials. The demand for self-healing materials in applications, such as concrete and coatings is high in RoW. Rising awareness about the benefits of self-healing materials has resulted in this high demand for self-healing materials in RoW countries, such as South Africa, Saudi Arabia, Brazil and Argentina.
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Key players in the self-healing materials market include Acciona S.A. (Spain), AkzoNobel N.V. (Netherlands), Applied Thin Films, Inc. (U.S.), Arkema SA (France), Autonomic Materials Inc. (U.S.), Avecom N.V. (Belgium), BASF SE (Germany), Covestro AG (Germany), Critical Materials S.A. (Portugal), Devan Chemicals (Portugal), E.I. Du Pont De Nemours and Company (U.S.), Evonik Industries (Germany), Sensor Coating Systems Ltd. (U.K.), and Slips Technologies, Inc. (U.S.).
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