Self-healing Materials Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Self-healing Materials Market


The global self-healing materials market size was estimated at USD 291.4 million in 2018, growing at a CAGR of 46.1% from 2019 to 2025. Growing demand for advanced self-repairing polymers from end-use industries and the ability of materials to repair damages caused due to mechanical friction are the factors estimated to drive overall market growth in the forecast period.

The self-healing materials produced from hydroxyl end-functionalized polydimethylsiloxane (HOPDMS) and polydiethoxysiloxane (PDES) are used to prevent the substrate from external environmental impact. In addition, the introduction of self-healing microcapsules containing rejuvenator has resulted in the decrease in crack formation in asphalt formulations.

The U.S. self-healing materials market is expected to witness notable growth over the forecast period owing to the growth in construction sector in the country. Increased demand for energy-efficient construction solutions is one of the primary factors driving the market growth. In addition, high adoption of the product in the application industry is expected to drive growth.

Rising demand for advanced self-repairing polymers improve the productivity and minimize losses, related to product damages, particularly from automotive and electronic devices manufacturing industries is expected to drive growth. In addition, rise in the application of such materials in paints & coatings in the aforementioned industries is expected to promote growth.

Factors such as high cost of such products coupled with the presence of a number of substitutes are estimated to restrain overall market growth. In addition, limited awareness of the products primarily across the less developed economies is expected to limit the market growth over the next seven years.

Securing competitiveness, profitability and scaling up from pilot scale to industrial scale productions are major challenges estimated to have an impact on the industry growth over the forecast period. However, rise in the capital expenditure by the companies in the industry is expected to open up new avenues for market growth over the forecast period.

Product Insights of Self-healing Materials Market

The coatings segment accounted for 27.3% of the total market share in 2018 and is estimated to reach 28.3% market share by 2025 on account of the rising demand of the product from automotive and aerospace industries. Increase in the operation lifetime of paints and coatings coupled with the reduction in the maintenance cost are expected to emerge as the major factors driving growth.

The polymers sector is estimated to grow at a CAGR of 46.4% from 2019 to 2025, on account of its rising use in plastic industry and engineering activities. Polymers are extensively used owing to their ability to repair micro-scale damages and restore the passive state of substrate thereby resulting in increased adoption.

Fiber-reinforced composites are exclusively used owing to their durability and superior corrosion resistance. The global fiber-reinforced composites sector accounted for a notable revenue share on account of the growing use of the products in aerospace industry to store liquid oxygen and hydrogen.

The self-healing concrete is estimated to grow at the fastest pace with a CAGR of 48.4% over the forecast period owing to its durability & strength coupled with the high use of the product in critical applications in the building & construction industry. In addition, rising demand from construction sectors mainly in Europe and Asia Pacific is estimated to boost concrete demand in future.

Technology Insights of Self-healing Materials Market

Reversible polymer technology emerged as the leading segment for the industry and is estimated to grow at a CAGR of 44.5% from 219 to 2025. The factors such as the rising demand from medical sector on account of heightened application scope is expected to drive the industry growth. In addition, superior rebinding offered by the aforementioned products is expected to benefit the industry.

The microencapsulation technology is estimated to register notable gains owing its ability to repair polymeric composites after being injured by chemical and mechanical progressions. Microspheres are present in the compounds that release their contents at a suitable time which leads to a superior healing of the surface. High use of such products across applications is expected to drive growth.

Capsule-based technology is a new substitute to the conventional repairing techniques, with its working dependent on the potential of the existing developed microencapsulated agents, size of microcapsules, and required healing efficacy. The segment is expected to realize notable gains on account of the increasing application in the growing building & construction industry.

Biological material systems are exclusively used in medical implants with the sector estimated to witness a CAGR of 47.5% in the forecast period. In addition, growing geriatric population is anticipated to increase the demand for biological self-healing material which is further expected to benefit the industry growth over the forecast period.

Application Insights of Self-healing Materials Market

The building & construction segment dominated the market accounting for 33.4% of the total demand in 2018. Growth in the usage of the materials in the non-residential construction segment is expected to drive the market over the forecast period. In addition, rise in the growth of the application of such materials in the B&C sector is also expected to bode well for the industry.

Growing adoption of such materials by the major players in the electronics and semiconductors markets is expected to drive the industry growth over the forecast period. In addition, usage of such products in patented applications is expected to benefit the industry growth over the forecas period.

Automotive & transportation sector emerged as one of the major applications for the products on account of the rising affinity of the consumers towards the lowering of the maintenance cost of the paints. For instance, Ford developed a new technique of self-healing film that protects car from damage and scratches, which is expected to be implemented on a commercial scale.

The self-healing materials are exclusively used in energy generation industry in ionic conductors, insulators, and electrical conductors, in power generation, and in oil & gas refineries. Moreover, electronics companies such as Samsung and Apple are using self-healing materials in mobiles, laptops, and desktops which is expected to drive their demand over the forecast period.

Regional Insights of Self-healing Materials Market

Europe dominated the self-healing materials market accounting for 31.1% of total market share in 2018. High use of self-repairing specialty polymers in several countries like France, UK, and Germany coupled with process innovation, advanced R&D, and expansion of automobile production across the region are estimated to fuel the industry growth over the forecast period.

North America is the second largest consumer of self-healing materials, followed by Asia Pacific, on account of rising demand from end-user industries. The U.S. dominates North American market, in terms of consumption, owing to the high demand from residential sector, extensively developed manufacturing industry, and government initiatives towards infrastructure development.

Initiatives by Government of Mexico to increase foreign direct investments in semiconductor industry is estimated to boost the growth of microelectronics manufacturing industry. This is presumed to boost the demand for semiconductor coating, positively affecting the consumption of self-healing materials in North America.

Asia Pacific market is estimated to exhibit a CAGR of 51.9% over the forecast period, owing to the massive potential of the construction industry in the region. Construction industry in Asia Pacific is estimated to exhibit exponential gains on account of rising per capita income, rapid urbanization, and growing population, which is further expected to promote industry growth.

Market Share Insights of Self-healing Materials Market

The major players in the market are focused on inorganic growth through the enhancement of its technology and product portfolio to provide next generation solutions to its customers. The key strategies approved by key players comprise partnerships with third-party distributors and research institutes for enhancing their position in the global industry.

Companies have started focusing on developing multifunctional coatings owing to the increase in the competition among the market players. For instance, BASF SE obtained a patent for self-healing coatings. This includes a cured coating which is estimated to be implemented in several sub-segments of their product portfolio which is further expected to improve the company share.

p2 Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the self-healing materials market on the basis of product, technology, application, and region:

Product Outlook (Volume, USD Million; 2014 - 2025)

  
Concrete
  
Coatings
  
Polymers
  
Asphalt
  
Fiber-Reinforced Composites
  
Ceramic
  
Metal

Technology Outlook (Revenue, USD Million; 2014 - 2025)

  
Reversible Polymers
  
Microencapsulation
  
Shape Memory Materials
  
Biological Material Systems
  
Others

Application Outlook (Revenue, USD Million; 2014 - 2025)

  
Energy Generation
  
Building & Construction
  
Automotive & Transportation
  
Electronics & Semiconductors
  
Medical
  
Others