Self-Healing Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Self-Healing Materials Market Analysis
The self-healing materials market is expected to register with a CAGR greater than 20% during the forecast period.
COVID-19 had a significant impact on the logistics and manufacturing industries, thus hampering the market growth. However, the industry started to recover, and from that onwards, the market is driven by steady expansion in the automotive, construction, and aerospace industries.
- The increased development in the construction industry in emerging countries is one of the primary factors driving the market. The growing use of self-healing materials in biomimetics for the healthcare industry is also likely to propel the market.
- However, the high cost of self-healing materials as compared to conventional materials is hindering the growth of the market studied.
- The increasing adoption of self-healing materials in the automobile and electronics industry on the back of rising awareness is likely to act as an opportunity for the market studied.
- Asia-Pacific is expected to witness the highest growth rate during the forecast period.
Self-Healing Materials Market Trends
This section covers the major market trends shaping the Self-healing Materials Market according to our research experts:
Construction Inudstry to Dominate the Market
- Self-healing materials play an essential role in the construction industry. These materials include the potential to rapidly fix the cracks as the self-healing process allows speedy treatment. It is used in concrete to strengthen and extend the life of buildings, bridges, and other structures.
- The ever-increasing global construction industry will likely increase the demand for self-healing materials.
- According to the US Census Bureau, the seasonally adjusted annual rate of privately owned housing units approved by building permits in January 2023 was 1,339,000, 0.1 percentage point higher than the revised December estimate of 1,337,000.
- The same statistical report by US Census Bureau also stated that privately owned housing completions were at a seasonally adjusted annual rate of 1,406,000 in January 2023, up 1.0% from the revised December estimate of 1,392,000 and 12.8% from the January 2022 pace of 1,247,000.
- Aside from new home development, the United States is investing heavily in home improvements. The necessity for rehabilitation became increasingly critical as the country's migrant population grew. In addition, the increased awareness of the importance of sustainability and high-efficiency constructions also fueled the restoration trend.
- Germany also approved the construction of 25,399 dwellings for October 2022. According to the Federal Statistics Office (Destatis), this reflects a 14.2% decrease in building permits from October 2021. Also, 297,453 residential building licenses were issued between January and October 2022.
- All these construction activities in various locations worldwide increase the demand for self-healing materials in the industry, propelling the market ahead.
Asia-Pacific to Witness the Highest Growth Rate
- In recent years, Asia-Pacific saw a considerable increase in demand for self-healing materials, particularly from China and India. The Asia-Pacific region's consumption of self-healing materials is predicted to skyrocket due to the materials' increasing lifespan, durability, safety, efficiency, and performance.
- China's building industry is expanding at a rapid pace. According to the National Bureau of Statistics of China, construction output in China was valued at around CNY 276 billion (USD 40 billion) in the fourth quarter of 2022, representing a 50% increase over the previous quarter.
- Over the next seven years, India is anticipated to see an investment of roughly USD 1.3 trillion in housing, with 60 million new dwellings being constructed. India also plans to surpass its goal of becoming the world's third-largest building market by 2025. Regarding the construction industry, the government allocated INR 60,000 crores (USD 7.72 billion) for the Ministry of Road Transport and Highways in the Union Budget 2022-23.
- According to Japan's Ministry of Land, Infrastructure, Transport, and Tourism (MLIT), overall investment in the construction sector in 2022 is expected to be around JPY 66,990 billion (USD 508.16 billion), a 0.6% increase over the previous year.
- Moreover, the Japan Electronics and Information Technology Industries Association (JEITA) estimated the overall production value of the electronics sector in Japan to be around JPY 10.1 trillion (84.5 USD billion) as of November 2022, roughly 100.7% of the value from the previous year. When compared to the prior year, the exports of electronics from Japan also increased by almost 15% up until November as compared to the previous year.
- Thus, the growing construction activities, the increasing automobile industry, and the rising electronics sector are instrumental in the growth of self-healing materials and other applications, which would boost the market during the forecast period.
Self-Healing Materials Industry Overview
The self-healing materials market is moderately consolidated as the top players account for a significant market share. Some of the key players in the market include (not in any particular order) Autonomic Materials, Inc., The Goodyear Tire and Rubber Company, NEI Corporation., BASF SE, and Bayer AG, among others.
Self-Healing Materials Market Leaders
Autonomic Materials, Inc.
NEI Corporation.
BASF SE
Bayer AG
The Goodyear Tire and Rubber Company
*Disclaimer: Major Players sorted in no particular order
Self-Healing Materials Market News
- December 2022: Scientists at Riken, Japan, announced that they had created a self-healing polymer using an off-the-shelf compound for the first time. It is reported that the polymer that heals itself is made from readily available building blocks.
- October 2022: Engineering researchers at North Carolina State University announced the development of a new self-healing composite that allows structures to repair themselves in place without having to be removed from service. This latest technology resolves two longstanding challenges for self-healing materials and can significantly extend the lifespan of structural components such as wind-turbine blades and aircraft wings.
Self-Healing Materials Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increased Development in the Construction Industry
4.1.2 Growing Use of Self-healing Materials in Biomimetics
4.1.3 Other Drivers
4.2 Restraints
4.2.1 High Cost of Self-healing Materials
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Polymers
5.1.2 Composites
5.1.3 Ceramics
5.1.4 Concrete
5.1.5 Other Types
5.2 End-user Industry
5.2.1 Healthcare
5.2.2 Automotive
5.2.3 Electrical and Electronics
5.2.4 Construction
5.2.5 Aerospace
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Acciona, S.A.
6.4.2 Apple Inc.
6.4.3 Autonomic Materials, Inc.
6.4.4 BASF SE
6.4.5 Bayer AG
6.4.6 Covestro AG
6.4.7 Evonik Industries AG
6.4.8 MacDermid Autotype Ltd.
6.4.9 Michelin North America Inc.
6.4.10 NEI Corporation
6.4.11 The Goodyear Tire and Rubber Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Adoption of Self-healing Materials in the Automobile and Electronics Industry
Self-Healing Materials Industry Segmentation
Self-healing materials are artificial or synthetically manufactured substances that can mend autonomously without needing external diagnostics or human intervention. The self-healing materials market is segmented by type, end-user industry, and geography. By type, the market is segmented into polymers, composites, ceramics, concrete, and other types. The market is segmented into healthcare, automotive, electrical and electronics, construction, aerospace, and other end-user industries by end-user industry. The report also covers the market size and forecasts for self-healing materials in 15 countries across major regions. The market sizing and forecasts are based on each segment's value (USD million).
| Type | |
| Polymers | |
| Composites | |
| Ceramics | |
| Concrete | |
| Other Types |
| End-user Industry | |
| Healthcare | |
| Automotive | |
| Electrical and Electronics | |
| Construction | |
| Aerospace | |
| Other End-user Industries |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Self-Healing Materials Market Research FAQs
What is the current Self-healing Materials Market size?
The Self-healing Materials Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in Self-healing Materials Market?
Autonomic Materials, Inc., NEI Corporation., BASF SE, Bayer AG and The Goodyear Tire and Rubber Company are the major companies operating in the Self-healing Materials Market.
Which is the fastest growing region in Self-healing Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Self-healing Materials Market?
In 2024, the North America accounts for the largest market share in Self-healing Materials Market.
What years does this Self-healing Materials Market cover?
The report covers the Self-healing Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Self-healing Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Self-Healing Materials Industry Report
Statistics for the 2024 Self-Healing Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Self-Healing Materials analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
