Self-healing materials Market:-
Self-healing materials are artificially created substances that possess self-healing properties without the exertion of any external force. These materials repair themselves and are highly demanded owing to their self-healing capacities that reduce the extra cost of maintenance. The self-healing process of these smart materials starts with responding to change in external stimuli such as temperature, light, and others.
The most commonly used self-healing materials are elastomers and polymers, whereas it covers a wide range of materials from metals to ceramics.
The global self-healing materials market is expected to expand at an encouraging CAGR during the forecast years. The ability of self-healing materials to repair itself substantially helps in reduction of the maintenance and repairing cost which paves their path into many end-user industries such as energy, pharmaceuticals, building and construction, electronics, and automobiles among others.
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
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Intended Audience:-
- Self-healing materials market manufacturers
- Traders and Distributors of Self-healing materials market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
Geographical Analysis:-
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Key Players:-
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 are some of the key players operating in the market of self healing materials market.
Regions:-
The self healing materials market is segmented across five regions: The Middle East & Africa, Asia Pacific, Latin America, Europe, and North America. Europe followed by North America is the dominant region. The developed pharmaceutical industry in Europe coupled with the high adoption rate is the major factor driving the growth of the market.
Moreover, the growing expansion of companies especially, in Italy and France is expected to leverage the development of the market. Furthermore, the growing application in the developed automobile and transportation sector is also fueling the market demand. Moreover, the stringent EU regulations regarding the control of emissions have augmented the use of asphalt self healing materials. North America is another major market during the forecast years.
The developed technological base coupled with growing investment in the research and development activities in the region is further propelling the demand. Moreover, the growing renovation and construction activities in the region coupled with the developed end user industries such as an automobile, electrical and semiconductor, and pharmaceutical among others is another factor fuelling the growth of the market.
Asia Pacific is expected to witness an augmenting CAGR during the forecast years. The shifting of manufacturing base into the region, coupled with the growing purchase power parity is driving the market positively. Moreover, the increasing government investment in the retail sector, especially in India and China, has overcome the supply barriers of goods such as electronics and medical devices which is significantly contributing to the market growth.
Segments:-
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 & semi-conductor, building & construction, medical, and others.
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