Global Self-healing materials market Analysis Report by 2028, Fortune Business Insights™
The global self-healing materials market size is expected to reach USD
62.66 billion by 2028, exhibiting a CAGR of 62.5% between 2021 and 2028. The
increasing adoption of CMCs, composites, polymer-based materials in
construction buildings will encourage the healthy growth of the market, states Fortune Business Insights, in
a report, titled “Self-Healing Materials Market, 2021-2028.”
The self-healing
materials market size stood at USD 1.29 billion in 2020.
In 2020, the global pandemic had a mixed effect on the consumer goods
industry. The supply chain instability resulted in significant declines in
consumer products prices, but had a smaller effect on some sectors such as food
and drink, shipping, and consumer electronics. Insignificant
cash flow, the adaptation of modern online and digital-first technologies,
supply chain management, and inventory management, on the other hand, have been
difficult obstacles for producers and vendors during the pandemic. As a result,
businesses are focusing on developing and introducing innovative plans to
respond to the new standard and set a new supply chain approach to sustain
revenue and development in such challenging times.
Acquisition of Air
Products by Evonik Industries AG to Strengthen Business
Evonik Industries AG, based in Germany, a specialty
chemicals company, completed the procurement of Air Products,
Inc.'s specialty additives industry (Performance Materials Division) for
approximately €3.5 billion. The transaction funding was accomplished in
September and would comprise €1.6 billion in business assets, with the
remaining portion backed by shares with an asset value of €1.9 billion. The
acquisition will have an exceptional effect on this market as it will raise the adjusted earnings per share (EPS) of
Evonik.
Rising Demand for Self-Healing Materials to
Promote Market
For the past few decades, self-healing systems
have seen major advancements. Various chemistry and material engineering
R&D experts have been continuously engaged in creating self-healing
polymeric materials, which will boost the market share. Self-conductive
materials are electronic or bioelectric materials made by incorporating
flexible bonds into inorganic nanoparticles through conductive fillers in
self-healing polymers. NASA has used various self-healing devices for
insulation frameworks and engineering design, with excellent performance and no
scars after healing. In addition, the growing utilization of these materials in aerospace,
rotorcraft, aircraft, and bulletproof applications in the defense sector will
have an outstanding effect on the self-healing
materials market growth.
Browse summary:
https://www.fortunebusinessinsights.com/self-healing-materials-market-102947
Transportation Segment to Hold the Largest Share
Based on form, the market is divided into intrinsic and extrinsic. The
intrinsic segment is expected to hold the largest share during the forecast
period due to its innate ability to restore the integrity of the material after
damage.
Based on the product, the market is segmented into polymer, concrete,
metal, coating, ceramic, asphalt, and fiber-reinforced composites.
Based on the application, the market is classified into transportation,
consumer goods, building construction, energy generation, healthcare, and
others. Transportation is expected to account for the high share due to the
high demand for materials to maintain the structural integrity in vehicles.
Geographically, the market is classified into North America, Asia
Pacific, Europe, Latin America, and the Middle East, and Africa.
High Demand for Self-Healing Materials to Intensify Market in
Europe
·
Rising awareness about the benefits of
self-healing materialssuch asdurability, thermal stability, abrasion
resistance, stiffness, and strength will fuel its demand in Europe.
·
High demand for consumer goods,
consumer electronics, and wearables will augment growth in Asia Pacific.
·
The utilization of polymer-based
self-healing materials in the aerospace and defense sector will push growth in
North America.
·
The increasing wind power construction
activity is expected to accelerate the healing
materials industry in the Middle East and Africa.
Emphasis on Improved Product Quality to
Intensify Competition
Local producers are increasingly incorporating
cutting-edge technology into their products. Manufacturers have been seen
focusing on improving product quality and establishing solid manufacturing and
export networks in order to achieve an edge over their competitors. Acciona
S.A., AkzoNobel N.V., Arkema SA, BASF SE, Covestro AG, Du Pont, Evonik
Industries, among others are some of the major players in the global market.
The Report Lists the Key Companies in this
Market:
·
Acciona S.A.
(Alcobendas, Spain)
·
AkzoNobel N.V.
(Amsterdam, Netherlands)
·
Applied Thin
Films, Inc. (California, U.S.)
·
Arkema SA
(Colombes, France)
·
Autonomic Materials Inc.
(Illinois, U.S.)
·
Avecom N.V.
(Wondelgem, Belgium)
·
BASF SE
(Ludwigshafen, Germany)
·
Covestro AG
(Leverkusen, Germany)
·
E.I. Du Pont De
Nemours and Company (Delware, U.S.)
·
Evonik Industries
(Essen, Germany)
·
Sensor Coating
Systems Ltd. (London, U.K.)
·
Slips
Technologies, Inc. (Massachusetts, U.S.)
Request a sample PDF file:
About Us:
Fortune Business
Insights™ delivers accurate data and innovative corporate analysis, helping
organizations of all sizes make appropriate decisions. We tailor novel
solutions for our clients, assisting them to address various challenges
distinct to their businesses. Our aim is to empower them with holistic market
intelligence, providing a granular overview of the market they are operating
in.
Contact Us:
Fortune Business
Insights™ Pvt. Ltd.
308, Supreme
Headquarters,
Survey No. 36,
Baner,
Pune-Bangalore
Highway,
Pune - 411045,
Maharashtra, India.
Phone:
US :+1 424 253
0390
UK : +44 2071
939123
APAC : +91 744
740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
Comments
Post a Comment