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Self-healing Materials Market Analysis
Based on product, the self-healing materials industry is segmented as polymers, metals, ceramics, concrete, others. Polymers held a majority market value of USD 0.9 billion in 2022. Polymers with intrinsic self-healing capabilities use reversible chemical bonds to repair cracks and damage caused by external stress. They are used in applications such as coatings, composites, and flexible materials.
Based on technology, the market is segmented as reversible polymers, shape memory materials, microencapsulation, biological material systems. reversible polymers held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Reversible polymers containing healing agents release them upon damage, promoting localized repair.
Based on end-use, the self-healing materials market is segmented as construction, automotive, healthcare, aerospace, electrical and electronics, others. Construction held a dominant market share in 2022 and is anticipated to grow at 24.2% CAGR through 2032. Self-healing concrete and coatings can reduce maintenance expenses by automatically repairing cracks and minimizing deterioration.
U.S. dominated the North American region with majority market share and a revenue of USD 0.6 billion in 2022. North America has a significant need for repairing and maintaining aging infrastructure, driving the adoption of self-healing materials in construction and civil engineering.
What factors are influencing self-healing materials market growth in the U.S.?
U.S. self-healing materials industry recorded USD 0.6 billion in 2022 and is expected to witness appreciable growth from 2023-2032 owing to the rising need for repairing and maintaining aging infrastructure in the region.
Why is the demand for self-healing polymers growing?
Self-healing materials industry from the polymers product segment reached USD 0.9 billion in 2022 and will incur significant growth from 2023-2032 on account of its widespread usage in coatings, composites, and flexible materials.
Who are the key self-healing materials business players?
Acciona S.A., Akzo Nobel N.V., Applied Thin Films Inc., Autonomic Materials, Inc., Avecom N.V., Covestro AG, Critical Materials S.A., and Devan Chemicals NV are some of the major self-healing material companies worldwide.
How big is the self-healing materials market?
Market size for self-healing materials was USD 1.98 billion in 2023 and will reach USD 13.8 billion by 2032 due to increasing application in construction and civil engineering projects, to enhance the durability and longevity of infrastructure.