Self-healing Materials Market to amass around US $8.23 BN by 2026

June 10, 2019

Worldwide Self-healing Materials Market is predicted to accrue around US $8.23 billion by the year 2026. according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.

Self-healing materials are unnaturally developed substances that are able to restore and repair their functionality automatically, without any human or external intervention. These materials hold an in-built potential to recover their load-transferring ability following any damage. Since their inception, numerous innovations have taken place in the space of these self-healing materials. 

The self-healing materials – made of stretchable polymers and ionic salts – are extensively used in smart phone screens, as they are capable of healing scratches and cuts. They also conduct electricity, as they consist of bonds, like an ion-dipole interaction that is a strong force between charged ions and polar molecules. Whenever a material gets a scratch or minute crack, these ions are attracted to each other, and take about twenty-four hours to get back to their original formation.

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According to the recent findings of the study, the self-healing materials including hydrogels, epoxy resins, etc. are increasingly adopted in concrete & roofing materials. Researchers have ascertained a particular bacteria group that are embedded in the concrete and aid in healing cracks. The bacteria releases metabolic calcium carbonate that potentially serves as the healing agent.  Owing to research & development, new soak clay balls have been introduced, which contain these bacteria, and are combined with concrete used in construction projects, including residential buildings, tunnels, bridges, etc. 

The various types of self-healing materials enumerated in the report include coatings, asphalt, concrete, ceramic, polymers, others. Speaking of the technology landscape, the global self-healing materials market is bifurcated into microencapsulation, biological material systems, reversible polymers, and others. Furthermore, on the basis of the end-use outlook, the global market is segmented into aerospace, automotive, building & construction, electronics, and others.

A significant development commercially introduced into the market recently, is the self-healing screen that is used in smart phones. For instance, telecommunications giant Motorola uses shatter-proof displays. Such advancements in the industry, coupled with the substantially high rate of commercialization, would propel the self-healing materials market size in the coming years, cites the report.

As per the regional scenario, North America accounted for the largest market share in the worldwide self-healing materials market in the year 2017. Regional growth can be attributed to the major research projects undertaken at universities, supported by the US-based multinational companies. Moreover, the highly advanced aerospace, automobile, and manufacturing sectors in the country have greatly helped boost the demand for these products in the region.

Leading industry participants profiled in the report include BASF SE, Akzo Nobel N.V., Acciona S.A., Dow Chemicals, Slips Technologies Inc., Autonomic Materials Inc., Huntsman Advanced Materials, Sensor Coating Systems Ltd., Applied Thin Films Inc. (ATFI), Avecom N.V., Critical S.A., Devan Chemicals, and Covestro AG.

The report also entails an insightful analysis of the global self-healing materials market drivers, restraints, and opportunities, which would possibly influence the commercialization scope of this business sphere over the forecast period. The industry analysis included in the report takes into account Porter's five forces, which are the degree of competition, the bargaining power of the supplier, bargaining power of the buyer, the threat of substitute, and the threat of new entrants.