Self-Healing Materials Revenue Growth Predicted by 2017-2025
In North America, the U.S. is the largest market for self-healing materials. The demand for self-healing materials in this region is due to the growing use of self-healing materials in various end-user industries such as aerospace and automotive. The presence of major players in North America such as Arkema Inc. and others are projected to result in developments of self-healing materials, supporting high growth in the market. For instance, Arkema Inc. collaborations with university and government laboratories helped Arkema to develop self-healing material products such as Reverlink in 2010. North America is the largest market for cladding systems in burgeoning construction industry is also one of the driving factors for the self-healing materials market to strive in the US market. Moreover, the Trump government promises of change in public infrastructure and the New Building Canada Fund commitment towards sanctioning of US$ 10 billion over a 10-year period i.e. 2014-2024, to build public infrastructure. This factors are expected to propel the growth of the self-healing materials market in North America.
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The Asia-Pacific region is expected to be the fastest growing market for self-healing materials. The ever increasing industrial development rates, condensed population in cities, and escalating funds in the automobile and electrical sectors, are the driving forces that augment vigorous regional growth of this market. The availability of a bigger market combined with cheaper manufacturing costs is projected to experience enhanced application of self-healing materials in this region. Asia Pacific is the fastest growing market due to the flourishing growth of construction industries in the emerging markets of India, China, Indonesia, and the ASEAN countries. The shift in population from rural settlements to cities, has augmented this growth. According to stats released by World Bank in 2016, 57% of China’s and 33% of India’s population live in urban settlements. These factors drive the growth of the self-healing materials market in this region.
The increasing advanced infrastructure and development in the Middle East is projected to result in an increasing demand for self-healing materials in this region during the forecast period. Joint ventures and consolidation of major industry players with the regional manufacturers, is expected to boost the self-healing market positively in this region. The growth of the construction market in various emerging counties of Africa is expected to provide ample opportunities for growth of the self-healing materials market in this region, during the forecast period
Self-healing materials are synthetically manufactured products that can automatically and autonomously heal or repair the damages without any external intervention or human interference. Materials degrade over time due to stress, ecological conditions, or the damage that occurs during the operation itself. Self-healing materials are able to encounter this degradation by initiating a restoration mechanism that responds to the micro-damage. The market growth for self-healing materials is expected to grow due to their exceptional properties and advantages such as hollow fibers can easily be mixed and tailored with the conventional reinforcing fibers, higher volume of healing agent such as monomers, dyes, catalysts and hardeners are available to repair damages. Owing to these factors the self-healing materials market is expected to propel at a higher rate in the construction, plastics and adhesives industry during the forecast period.
The major drivers for the global self-healing materials market are the long term warranties and the long-term monetary benefits provided by the use of self-healing materials as compared to conventional materials. Companies such as Acciona S.A., AkzoNobel N.V., and others are providing self-healing materials across the globe. For instance, in April, 2015, Acciona Infraestructuras were involved in two European projects, SHINE Project (Self-Healing Innovative Elastomers) and the HEALCON project where the company developed plastic materials that can heal themselves at ambient temperature and various asphalt mixes that used self-repairing materials were developed. The SHINE project was aimed for the development of new self-healing elastomers with mechanical properties comparable to conventional ones with 60% recovery of the initial properties after healing, repeatable self-healing, operable at room temperature and without human intervention. This project was completed in July, 2017 under which various companies such as ACCIONA Infraestructuras S.A., DPI, ARKEMA, Teijin Aramid, and BIWI along with others participated. The material developed is applied to products such as dynamic seals, shock absorbers and anti-vibration systems used in machinery, vehicles, bridges, railways and roads. These elastomers would help to increase of products lifetime, decrease in maintenance costs and rehabilitation works and an improvement in safety, by reducing traffic accidents, traffic jams and road congestion. These factors are expected to drive the self-healing materials market during the forecast period. However, the high production costs for self-healing materials coupled with a lack of commercial production of – the materials, is a major hindrance to the growth of the self-healing materials market.
Construction is the largest segment among the end-user industries for self-healing materials market in both developing and developed economies, as it helps enhance the durability and serviceability, improve safety and reduce maintenance costs. The use of self-healing materials is projected to witness a major rise in aerospace and automotive industries as the fastest growing segment, as it is expected to help manufacturers reduce the maintenance and repairing costs of the industry.
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Scientists at the University of California have produced a self-healing material that is expected to be utilized in smartphone screens by 2020, which is projected to be a major breakthrough for the global self-healing materials market. The increasing use of self-healing materials in day to day applications, could result in the production and development of cheaper self-healing materials. Major self-healing material producers include Acciona S.A., AkzoNobel N.V., Applied Thin Films, Inc., Arkema SA, Autonomic Materials Inc., Avecom N.V., BASF SE, Covestro AG, Critical Materials S.A., Devan Chemicals, E.I. Du Pont De Nemours and Company, Evonik Industries, Sensor Coating Systems Ltd., and Slips Technologies, Inc.
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