Self-Healing Material Market with 25.2% CAGR, Self-Healing Material Market Size to Reach USD 9.60 billion by 2029

According to Exactitude Consultancy the Global Self-Healing Material Market value is expected to reach USD 9.60 billion by 2029, growing at a CAGR of 25.2% Between Forecast Period 2023 and 2029.

PUNE, India, Feb. 14, 2023 /PRNewswire/ -- The global self-healing material market is expected to grow at 25.2% CAGR from 2023 to 2029. It is expected to reach above USD 9.60 Billion by 2029 from USD 1.27 Billion in 2022. The self-healing material market is a growing industry that focuses on the development of materials that have the ability to repair themselves when they are damaged. This type of material has applications in various industries, including construction, transportation, consumer goods, and electronics. The market is driven by the increasing demand for durable and sustainable products, as well as the need to reduce waste and lower maintenance costs. Some of the key players in the self-healing material market include Arkema, Covestro, BASF, Dow Chemical, and PPG Industries. The market is expected to continue to grow as new applications are developed and demand for self-healing materials increases.

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Self-healing Materials Market Report Highlights

• The reversible polymers segment dominated the market and is anticipated to witness an estimated CAGR of 25.2% from 2023 to 2029
• Thermal polymers and hydrogels are finding increasing applications in automotive and medical technology, especially in the therapeutic and diagnostic field, and are expected to fuel Self-Healing Material Market growth in the coming years.
• The electronics and semiconductor segment are expected to register the fastest growth rate during the forecast period. Manufacturers are working to develop materials that can withstand physical deformation and heal naturally without external influences. B. Flexible conductors, dielectrics, etc.
• The US market value of self-healing materials used in building and construction applications was USD 62.7 million in 2021. Increased purchasing power and demand for advanced building materials in Canada and Mexico favor the use of self-healing composites.
• Europe witnessed the largest regional market growth and is anticipated to witness a CAGR of 21.8% from 2023 to 2029. The industry in Asia Pacific is projected to witness highest growth rates during the forecast years
• The market is consolidated with the top companies to account for maximum share in 2022.

Growth & Trends

Rise in infrastructure projects and increasing demand for quality building materials due to urbanization are expected to boost the market growth in the near future. Self-healing materials are intelligent materials that can self-repair damage caused by mechanical friction or the passage of time.

After damage, the molecules of these substances readjust to replicate the original substance. Cracks and other damage at the microscopic level change the electrical, thermal, and acoustic properties of materials up to their complete destruction. These materials repair these injuries with or without human intervention. These specialty products not only extend the life of the material, but also the base coat or product to which they are applied. Microencapsulated or Nano encapsulated pharmaceuticals reside in encapsulated ingredients that are released upon rupture. Market growth is expected to escalate due to the unique properties of the products that provide long-term economic benefits compared to traditional composites.

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Companies Profiled in Self-Healing Material Market Report:

• Acciona S.A
• Akzonobel N.V
• Arkema SA
• Evonik Industries
• Dow Chemical Company
• Covestro AG
• High Impact Technology
• Huntsman International
• Michelin Group
• MacDermid Autotype Ltd.
• Akzo Nobel N.V.
• Evonik Industries Corporation
• NEI Corporation.

Latest Industry Trends

Continuous Expansion of the Wind Power Industry to be a Prominent Trend

The wind power industry is one of the fastest growing composite industries that use reinforcing fibres to manufacture lightweight rotor blades. A fundamental feature in the design of wind blades is the selection of suitable materials. This can affect many parameters such as weight, loading, fatigue behaviour and physical properties. Materials such as bamboo, steel and aluminium were used to make wind blades many years ago. In a cost-driven market, the wind power industry is struggling with final prices and doing more for less. It depends on how you do it at your expense. Composite components allow for light weight and high strength. This means you can cost-effectively produce longer, stronger rotor blades for larger wind turbines.

Glass is the main constituent material used to manufacture wind turbine blades. Wind turbines are mainly steel (71-79% of the total turbine mass), resin or plastic (11-16%), iron or cast iron (5-17%), copper (1%), aluminium (0-2%). percent), according to a National Renewable Energy Laboratory study. Composite materials such as FRP are used as reinforcement in many wind power applications. Increased strength and stiffness make it an ideal turbine component, combined with low weight and design versatility. In composites, these materials have proven to be one of the most flexible materials. Ultimately, the ability to mold this fibre into complex shapes allows blade manufacturers to offer different alternatives for each specific problem.

Key Market Segments: Self-Healing Material Market

By Form: Extrinsic and Intrinsic

By Material Type: Concrete, Coatings, Polymers, Asphalt, Fibre-Reinforced Composites, Ceramic and Metals

By End Use Industry: Building & Construction, Transportation, Mobile Devices, General Industrial

By Region: Europe, North America, Asia-Pacific, South America and Middle East & Africa

Key Industry Developments:

• April 2015– Acciona developed self-healing materials to extend the lifespan and workability of the infrastructures. Acciona Infrastructures is part of Shine and Healcon European projects to establish the road surfaces and concrete that can repair themselves.
• January 2020– Autonomic Materials investigated the self-healing materials with protective coating systems. Trails proved that the low VOC waterborne self-healing coating is extremely useful for corrosion resistance.

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