Self-healing Material Market Professional Insights on Industry Analysis and Growth Survey from 2023 to 2032

As per the report published by The Brainy Insights, the global self-healing material market is expected to grow from USD 1.31 billion in 2021 to USD 134.86 billion by 2030, at a CAGR of 67.35% during the forecast period 2022-2030. Europe emerged as the largest market for the global self-healing material market, with a 34.21% market revenue share in 2021. The Europe region currently dominates the self-healing material market due to the gradual shift of the region towards sustainable development. The increasing innovation in self-healing polymers, coatings, and metals in the region contributes to the market's growth. The Asia Pacific region is expected to grow during the forecast period following the growing infrastructural projects undertaken by the governments of India & China. The region's expanding electronics and semiconductors market is also driving the self-healing material market. The well-established and thriving pharmaceuticals sector and the growing healthcare industry will contribute to the region's development. Initiatives that encourage the use of information technology to make it more efficient. The region's growing population is a significant factor influencing the demand for electronics, consumer goods, medicines, and automobiles.

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Self-Healing Material Market Size by Technology (Microencapsulation, Biological Material Systems, Reversible Polymers, Shape Memory Materials, and Others), Material Type (Metal, Fiber-Reinforced Composite, Polymer, Concrete, Ceramic, Asphalt, And Coating), Form, Application, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Acciona SA, Evonik Industries, Slips Technologies Inc., AkzoNobel NV, Sensor Coating Systems Ltd., BASF SE, Applied Thin Films Inc., Arkema SA, Autonomic Materials Inc., and Devan Chemicals, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The technology segment is divided into microencapsulation, biological material systems, reversible polymers, shape-memory materials, and others. The reversible polymers segment dominated the market, with a market share of around 39% in 2021. The growing applications of reversible polymers in medicine can be attributed as one of the primary reasons for the segment's dominance in the self-healing material market. The material type segment is divided into metal, fiber-reinforced composite, polymer, concrete, ceramic, asphalt, and coating. Over the forecast period, the asphalt segment is expected to grow at the fastest CAGR of 88.81%. The form segment is divided into extrinsic and intrinsic. In 2021, the extrinsic segment dominated the market, accounting for around 65% of global revenue. The ability of extrinsic self-healing materials to trigger repair when damage occurs without external intervention drives demand in several industries, including building and construction. The application segment is divided into automotive & transportation, construction & building, mobile devices, energy generation, electronics & semiconductors, healthcare, consumer goods, aerospace, and others. The construction & building segment dominated the market, with a market share of around 36%.

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The number of smartphone users stands at a whopping 6 billion globally, constituting around 85% of the population. The smartphone market is getting fragmented by the minute, with new market players entering the market to gain from the exponential growth it has witnessed in recent years due to the telecom boom and the rolling out of 5G services in many countries. Market players are developing new features with every product launch to attract new customers. Using self-healing materials in phones to repair screen damages or chip damages without external smartphone features is gaining traction with consumers. Therefore, the rising demand for self-healing properties/features in smartphones, laptops, and other electronics will augment well for the global self-healing material market.

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