Self-Healing Material Market is expected to grow over the CAGR of around 7 % during the period 2017 to 2023

The growth of the Self-Healing Material Market is driven by the increasing need of using self-healing materials by various end-user industries such as construction, automotive, electronics and others with the objective of reducing the costs which would otherwise be incurred for the repairs and maintenance of the infrastructures. The use of Self-Healing Materials provide long term benefits over the use of traditional materials. The rapid increase in the demand for the high-quality construction materials owing to the increased infrastructure projects and increased urbanization in the developing nations is expected to lead the growth of the self-healing materials during the forecast period.

The report has been analysed based on the product, technology, application and regions. Amongst all applications, the construction segment is expected to grow the highest. The use of self-healing cement and self-healing concrete in the construction activities is helping in the improvement of the lifespan of the construction sites. This use of self-healing material in the construction activities is also facilitating the reduction of the cost incurred for repairing of the damages in the construction activities. The increase in the need for building hi-tech infrastructure in the developing nations all across the globe is also leading to the boom in the self-healing materials market. The electronics segment is also expected to grow rapidly during the forecast period. The electronics manufacturers are continuously getting involved in the development of materials which have the ability to withstand physical distortion and naturally repair themselves without any external influence over a specified period of time.

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Based on products, the Self-Healing Material Market can be segmented as concrete, coatings, polymers, metals and others. The concrete is expected to dominate the Self-Healing Material Market owing to its capabilities such as minimum shrinkage and creep, high strength, durability and cost-effectiveness. Polymer is also used extensively used in various engineering fields owing to its advantages which include light-weight, excellent process ability, and physical & chemical stability in any atmospheric conditions.

Market Highlights:
The major driver for the growth of the Self-Healing Material Market can be attributed to the ability of the Self-Healing Materials to increase the lifetime of any construction activity that are prone to various damages such as cracks in walls and others. The Self-Healing Materials are also being used extensively as a coating for doors, automotive and others to prevent them from corrosion. The increasing applications of the Self-Healing Materials across various industry verticals such as construction, electronics, automotive and others is also driving the growth of the Self-Healing Materials Market.

Market Research Analysis:
The Asia-Pacific region is expected to grow the fastest in the Self-Healing Material Market owing to factors such as rapid industrialization and the increasing foreign direct investments for the electronic and automotive industries in the region. With the easy availability of cheap labor in the region many manufacturing industries are establishing their manufacturing sites to the Asia-Pacific region, which are leading to an increase in use of self-healing materials. This is leading to the growth of the Self-Healing Material Market in the region.

The Europe region is expected to grow during the forecast period owing to the increase in the purchasing power of the people and the expansion of multinational companies, which are requiring the use of the self-healing materials.

Scope of the Report:
This study provides an overview of the Global Self-Healing Material Market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Self-Healing Material Market by its product, technology, application and region.

By Product
• Concrete
• Coatings
• Polymers
• Metals
• Others

By Technology
• Reversible Polymers
• Microencapsulation
• Biological Material Systems
• Others

By Application
• Construction
• Automotive
• Electronics
• Others

By Region
• North America
• Asia Pacific
• Europe
• Rest of the World

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This release was published on openPR.