Self-healing Materials Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Self-healing Materials Market covers analysis by Type (Polymers, Composites, Ceramics, Concrete, and Others), Form (Extrinsic, and Intrinsic), Application (Healthcare, Automotive and Transportation, Electrical and Electronics, Building and Construction, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00003693
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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Self-healing materials market was valued at US$ 435 million in 2021, it is expected to grow at a CAGR of 27% between 2022 and 2028

Self-healing materials can partially or fully recover the damage during operational use or with external stimulation such as light and temperature but with no human intervention. This material consists of polymers, metals, ceramics, and their composites. Self-healing materials are preferred to prevent frequent cracks or damage that may deteriorate overtime and affect the efficiency of the system. In addition, self-healing materials increase the lifespan of components and may help save additional costs. The rising preference of self-healing materials due to regulations regarding longer service guarantee of products has been bolstering the market.

MARKET DYNAMICS

There is a growing demand for self-healing materials for safety purposes in construction, electronics, military, automotive and consumer products. Growing urbanization resulting in increased infrastructure is also contributing significantly toward the self-healing materials industry growth. Furthermore, preference for durable materials to save maintenance costs propels market growth. Along with these, lucrative opportunities on account of huge investments in R&D adding impetus to the growth of the self-healing materials industry. However, highly priced products restrict the self-healing materials market growth.

MARKET SCOPE

The "Global Self-healing Materials Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of market with detailed market segmentation by type, form, and end use. The report provides key statistics on the market status of the leading self-healing materials market player and offers key trends and opportunities in the self-healing materials industry.

Strategic Insights

MARKET SEGMENTATION

The global self-healing materials market is segmented based on type, form, and end use. Based on type, the market is segmented into polymers, composites, ceramics, concrete, and others. Based on form, the market is bifurcated into extrinsic and intrinsic. In terms of end use, the market is categorized into healthcare, automotive and transportation, electrical and electronics, building and construction, and others.


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REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global self-healing materials market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The self-healing materials market by each region is later sub-segmented by respective countries. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.

From the regional perspective, Asia Pacific dominates the self-healing materials market in 2021. The dominance of Asia Pacific in the market is majorly due to the high adoption rate of self-healing materials from construction, automotive, electronics, etc. Some of the key self-healing materials manufacturers in the region include Acciona S.A.; AkzoNobel N.V.; Applied Thin Films, Inc.; Arkema SA; and Autonomic Materials Inc. These suppliers witness constant demand from end-use industries. The below figure showcases the revenue growth trend in the self-healing materials market:

Self-healing Materials Market Source: The Insight Partners Analysis

The report analyzes factors affecting self-healing materials market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, effecting the market during the forecast period. The report also provides exhaustive Porter's five forces analysis highlighting the factors affecting the self-healing materials market.

IMPACT OF COVID-19 PANDEMIC

Due to the COVID-19 pandemic, many industries, such as chemical & materials and construction, faced unprecedented challenges due to disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for self-healing materials decreased due to a decline in the growth of several industrial sectors. Many production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of self-healing materials.

However, since 2021, the automotive and construction industry has been strongly growing and the growth trend is foreseen to continue over the years. This would propel the consumption of self-healing materials, thereby likely to bolster the market during the forecast period.

World Geography

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MARKET PLAYERS


The reports cover key organic and inorganic growth strategies in the self-healing materials market. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from self-healing materials market are anticipated to witness lucrative growth opportunities in the future with the rising demand for self-healing materials.

The report also includes the profiles of key self-healing materials market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years. Below mentioned is the list of few companies engaged in the self-healing materials market.

  • 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

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Form, End Use

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

1. Acciona, S.A.
2. Akzo Nobel N.V.
3. Apple Inc.
4. Autonomic Materials, Inc.
5. BASF SE
6. Bayer AG
7. MacDermid Autotype Ltd.
8. Michelin North America Inc.
9. NEI Corporation
10. SMP Technologies Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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