Self-Healing Materials Market To Boom in Europe in Coming Years, says P&S Intelligence

February 01 02:56 2022
Self-Healing Materials Market To Boom in Europe in Coming Years, says P&S Intelligence
Europe held the dominating share in the market for self-healing materials in the historical period (2015–2020), and it is expected to grow at a substantial growth rate during the forecast period.

The global self-healing materials market revenue stood at ~$1.1 billion in 2020 and it is predicted to rise rapidly from 2021 to 2030. The growing use of self-healing materials in the healthcare, electronics, and automotive industries, their better long-term financial benefits than conventional materials, and rapid advancements being made in the advanced material domain are the major factors fueling the expansion of the market all over the world.

Self-healing materials assist in increasing the average lifespan of equipment by repairing damages and slowing down entropy. They are majorly used in the aerospace, oil and gas, building and construction, and automotive industries. Some of the major applications in the automotive industry are anti-scratch polyurethane coatings that are based on self-healing elastomers for vehicle bodies. In the construction sector, self-healing asphalt is extensively used. Several oil-containing capsules are incorporated in the bituminous binder for extending the lifespan of the asphalt roof covering.

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Besides, the rapid technological advancements being made in self-healing materials are also driving the self-healing materials market. These innovations have caused an improved restoration of the functionalities in these materials and led to rapid healing, thereby triggering a new era of environmental management and infrastructure preservation technologies. These R&D activities are becoming a major trend in the market. Depending on material, the market is divided into coatings, concrete, asphalt, polymers, ceramics, metals, and fiber-reinforced composites.

Out of these, the polymers category contributed the highest revenue to the market during the last few years, and it is expected to surge sharply in the coming years as well. This is credited to the exceptional characteristics of self-healing polymers, such as resistance to abrasion, durability, and thermal stability. When application is taken into consideration, the market is categorized into transportation, general industrial, mobile devices, and building and construction. Amongst these, the building and construction category dominated the market in the past, owing to the large-scale use of these materials in the building and construction industry, particularly in non-residential buildings.

Globally, Europe contributed the highest revenue to the self-healing materials market in the years gone by. Furthermore, as per the estimates of the market research company, P&S Intelligence, the market will expand rapidly in the region during the forecast period. This is attributed to the existence of several key industry players, increasing R&D activities, growing use of these materials in the automotive sector, and surging implementation of government initiatives for improving product security in various fields in the region.

Browse detailed report on Self-Healing Materials Market Size, Share, Growth Drivers and Forecasts 2021–2030

The players operating in the industry are focusing on product launches in order to bolster their position and reach out to a larger number of customers. For example, Autonomic Materials used protective coating systems for examining its self-healing materials in January 2020. Furthermore, it was proved via multiple trials that low-volatile organic compounds (VOC) water-borne self-healing coatings are very useful for imparting resistance against corrosion and they are as good as the highly volatile solvent-borne materials.

Hence, it is safe to say that the market will grow rapidly in the coming years, mainly because of the mushrooming use of self-healing materials in various industries, such as automotive, electronics, construction, and healthcare, and rapid technological advancements in these materials.

Self-Healing Materials Market Size Breakdown by Segments

By Form

  • Extrinsic
  • Intrinsic

By Material

  • Concrete
  • Coatings
  • Polymers
  • Asphalt
  • Fiber-Reinforced Composites
  • Ceramics
  • Metals

By Application

  • Building & Construction  
  • Transportation
  • Mobile Devices
  • General Industrial

By Region

  • North America Self-Healing Materials Market
    • By form
    • By material
    • By application
    • By country – U.S., and Canada
  • Europe Self-Healing Materials Market
    • By form
    • By material
    • By application
    • By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
  • Asia-Pacific Self-Healing Materials Market
    • By form
    • By material
    • By application
    • By country – Japan, China, India, Australia, South Korea, and Rest of APAC
  • Latin America Self-Healing Materials Market
    • By form
    • By material
    • By application
    • By country – Brazil, Mexico, and Rest of LATAM
  • Middle East and Africa Self-Healing Materials Market
    • By form
    • By material
    • By application
    • By country – Saudi Arabia, South Africa, and Rest of MEA

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Polymer Concrete Market – Globally, the North American region dominated the polymer concrete market in the last few years, and it will continue to do so in the upcoming years as well. This can be primarily credited to the increasing focus on the restoration and repair of existing structures in the region.

Construction Equipment Market – Globally, the Asia-Pacific region is expected to hold the largest share in the construction equipment market during the forecast period, due to the mounting investments being made by governments in construction activities in the region.

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