Press release
Self-Healing Materials Market Market Share, Size, Trend, Demand, Analysis by Top Leading Player and Forecast Till 2028
The whole world is battling with the novel coronavirus, leaving numerous industries in distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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The report on the self-healing materials market accentuates:
All-inclusive study of the market
Important insights into the segments
Comprehensive information about regions
Valuable data about prominent players
Latest developments in the market
Market Driver:
Expansion of BASF's Chemical Industry to Promote Growth
The growing focus of companies towards expanding their production capacity can create opportunities for the market. For instance, in September 2019, BASF, a major in the chemical industry announced that it will increase the production of ethylene oxide and ethylene oxide derivatives at its Verbund site in Antwerp, Belgium. The total capacity for the project adds up to 400,000 metric tons a year to BASF's manufacturing potential for relevant materials with an annual investment value of over € 500 m. furthermore, the prospering automotive industry is expected to aid the expansion of the market. Self-healing materials are chemically produced substances that have the characteristics of self-healing without any external force. The growing focus of OEMs towards healers as an external cover to cars is expected to enable the growth of the market. Besides, the reduction of repairs by the use of healers can spur its demand in the automotive industry, thus aiding the growth of the market.
Nevertheless, the high cost of healers combined with the availability of a variety of alternatives is expected to restrict the growth of the market.
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Regional Analysis:
Accelerating Pharmaceutical Industry to Encourage Growth in Europe
The market in Europe is expected to experience high growth during the forecast period owing to the rising demand from the UK, Germany, France, Italy, Spain. The elevating pharmaceutical industry in Europe coupled with rapid business developments are factors expected to aid growth in the region. The increasing application in the existing automotive and transport sector is expected to further bolster the healthy growth of the market in Europe. North America is the second-largest consumer of self-healing products. The growth in the region is attributed to the strong demand from the domestic sector and manufacturing base. The government initiatives to improve infrastructure is expected to spur business opportunities for the market. The market in Asia Pacific is expected to witness rapid growth due to the improving construction industry. The increasing per capita income, urbanization, and a large population can further encourage growth in the region.
Key Development:
April 2019: Arkema announced the 30 percent capacity extension of its photocure liquid resin development plant in Nansha, China.
The Report Lists the Key Companies in the Self-Healing Materials Market:
AkzoNobel N.V.
Arkema SA
Autonomic Materials Inc.
Avecom N.V.
BASF SE
Covestro AG
Critical Materials S.A.
I. Du Pont De Nemours
Company
Sensor Coating Systems Ltd.
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