Self-healing Materials Market - Global Industry Analysis 2016 - 2024

Self-healing Materials Market: Overview

Self-healing materials are a category of materials that have structurally assimilated the ability to repair damage caused by excess use over time. Any material in which the healing process occurs without human involvement can be defined as self-healing material. Self-healing materials are inspired from biological systems that demonstrate the ability to repair themselves after being damaged. Once the damage is inflicted, molecules of self-healing materials realign to imitate the original structural arrangement. Self-healing materials are classified as self-healing coatings, biomaterials, shape memory materials, reversible polymers, vascular systems, and inorganic capsules. These materials are used across various end-user industries such as construction, automotive, electronics, healthcare, aerospace, military, and energy generation.

Self-healing Materials Market: Trends and Opportunities

Self-healing materials substantially reduce maintenance required for restoring damages. This is anticipated to be a key factor driving growth of the self-healing materials market. Self-healing materials such as self-healing cements and self-healing mortars that are used in the construction industry have witnessed increased demand during the past few years. A similar trend is expected to continue during the forecast period, thus reducing the frequency of maintenance.

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Automotive is another end-use industry that has witnessed rising demand for self-healing materials. Automotive OEMs apply an exterior coating to automobiles that triggers a healing action when scratched or cut. This coating reduces the frequency of maintenance required for automobiles by healing cuts and scratches automatically, thus reducing issues pertaining to regular maintenance. This has boosted demand for self-healing materials in the automotive industry; a similar trend is expected to continue during the forecast period.

Electronic conglomerates such as Apple and LG have promoted the usage of self-healing materials in electronic devices such as desktops, laptops, and mobiles. This is likely to present lucrative market prospects for self-healing materials in the near future. Another lucrative segment of the self-healing materials market is the healthcare industry. Potential usage of self-healing materials in the production of biomimetic is anticipated to bolster the self-healing materials market in the near future.

Self-healing Materials Market: Geographical and Competitive Dynamics

North America is projected to be the largest market for self-healing materials, holding substantial share of global demand during the forecast period. Growing research and development activities related to self-healing materials has proved to be a critical market driver in North America. Europe is expected to be the second-largest market for self-healing materials in terms of regional segmentation. End-user applications such as construction, automotive, and electronics are expected to drive the self-healing materials market in the region.

Additionally, Europe has a growing healthcare industry with large-scale research and development investments in biomimetic. Furthermore, several major automotive OEMs are present in Europe. These factors are expected to bolster demand for self-healing materials in the region. Asia Pacific is anticipated to witness extensive growth during the next few years due to increasing demand for self-healing materials in applications such as construction and automotive. Additionally, presence of growing economies such as China and India is expected to fuel the market on account of growing construction industry in the region.

Latin America is likely to witness steady growth in the self-healing materials market owing to strong demand from end-user industries in the region, predominantly driven by growth in the construction industry in the region. Middle East and Africa is anticipated to expand on similar lines especially in growing economies such as South Africa and countries in GCC.

Key players in the self-healing materials market include ACCIONA, BASF SE, Applied Thin Films Inc., ALSTOM, Autonomic Materials, Inc., Avecom, INNCEINNMAT, S.L., Bayer AG, Critical Materials, Evonik Industries Corporation, NEI Corporation, PPG Industries, Inc., SLIPS TECHNOLOGIES, SENSOR COATING SYSTEMS LTD., Flame Spray Technologies, Fescon Oy, GKN Aerospace, GENERAL MOTORS, Nissan Motor Corporation, Volkswagen, Ford Motor Company, Apple Inc., and LG Electronics.

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