Global self-healing materials market research report: by product type (concrete, coatings, polymers, ceramics), technology (reversible polymers, shape memory materials) applications (energy generation, medical, others) – Forecast till 2023
Pune, India -- (SBWIRE) -- 04/10/2018 -- Self-Healing Materials are used in various end-user industries such as automobile and transport, electronics & semiconductor, building and construction, energy generation, and pharmaceuticals among others. The growing demand from the developing countries across the globe are the major factors driving the Global Self-Healing Materials Market. The growing government investments in the infrastructural development coupled with the augmenting demand from the automobile sector are electronics & semiconductor industries are factors attributing to the growth of the market. Among the various end-user industry, building and construction followed by automotive & transportation is the leading segment and expected to show the same trend during the forecast period. These self-healing materials are extensively employed in the automobiles so as to reduce the cost of maintenance and repair.
The Global Self-Healing Materials Market is segmented into type, technology, and application. On the basis of the product type, the market is classified into concrete, coatings, polymers; fiber reinforced composites, asphalt, metals, and ceramics. On the technological basis, the market is bifurcated into reversible polymers, microencapsulation, shape memory materials, and biological material systems. On the basis of the application, the market can be segmented into energy generation, automobile & transport, electrical & semiconductor, building & construction, medical and others.
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The building and construction application segment is the leading type in the market accounted for over 20% market share in 2016. The growing socio-economic stability along with the increasing construction of high tech infrastructure is attributing to the growth of the segment.
Some of the prominent players operating in the Global Self-Healing Materials Market are, AkzoNobel N.V. (Netherlands), Arkema SA (France), Autonomic Materials Inc. (U.S.), Avecom N.V. (Belgium), BASF SE (Germany), Covestro AG (Germany), Critical Materials S.A. (Portugal), E.I. Du Pont De Nemours and Company (U.S.), Evonik Industries (Germany), Sensor Coating Systems Ltd. (U.K.), among others.
The Global Self-Healing Materials Market is spanned across five key regions: Latin America, and the Middle East & Africa, Asia Pacific, Europe and North America. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance during the forecast period. The growing demand from the industries such as construction and automotive is anticipated to boost the market growth. Moreover, the manufacturer favoring government regulation in the region has resulted in the shifting of manufacturing base which has further fuelled the growth of the. The key countries attributing to this growth are India, China, and Japan. North America is the dominant region for the market Self-Healing Materials. The developed application sectors along with the increasing adoption rate of Self-Healing Materials are the major factor contributing to the growth of the market. The major countries attributing to this growth are the Canada and U.S. The European market Of Self-Healing Materials is mainly driven by the developed medical and transportation industry. Moreover, the growing use of Self-Healing Materials in the electronic and semiconductor industry is also driving the market positively.
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