CHICAGO, May 22, 2019 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the global Self-Healing Materials Market is projected to reach USD 2,447.7 million by 2021, registering a CAGR of 95.0% from 2016 to 2021.
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The application of self-healing materials has increased in building & construction and transportation industries of Europe and North America regions, owing to the growing awareness about the benefits of self-healing materials. In addition to this, the demand for self-healing materials has also grown globally due to their efficiency and low maintenance cost.
Extrinsic segment estimated to be the largest form type segment of the market in terms of value
The capsule-based segment is estimated to be the largest segment of the extrinsic self-healing materials market, by form, 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. Scaling up from pilot scale to industrial scale production of self-healing materials in Europe will increase the demand for self-healing materials, especially in building & construction and transportation industries. Vascular systems are relatively less explored and are therefore costlier than the capsule-based systems.
Self-healing asphalt to register the highest growth rate during the forecast period
Three ways are being explored to make aged asphalt 'softer' and to prevent or close as many microcracks as possible. In the first approach, oil-containing capsules made of porous sand are embedded in the binder. When a microcrack in the bitumen further 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 the 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. Above a certain content of fibers conductivity hardly increases, hence there is an optimum in the electrical conductivity.
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Self-healing materials market in RoW is estimated to witness the highest CAGR during the forecast period
Europe is the largest market for self-healing materials, in terms of value, followed by North America and Asia-Pacific. U.S., Germany, China and Japan are the largest consumers of self-healing materials. Applications such as concrete and coatings represent the bulk of the demand for self-healing materials in the RoW region. Rising awareness about the benefits of self-healing materials has increased the importance as well as demand of self-healing materials in RoW countries, such as South Africa, Saudi Arabia, Brazil and Argentina.
The key players in the global 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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