Self-Healing Polymer Market Overview:
As the name suggests, self-healing polymers are artificially developed polymers which possess the ability to repair damage incurred automatically without any human intervention or external treatment. Self-healing polymers have a vast number of potential applications in end-user industries, many of which are witnessing rapid growth. Market Research Future (MRFR) has released its new report on the global self-healing polymer market which offers insights and key market figures. Industry applications for self-healing polymers can be found in paint & coatings, construction, electronics, healthcare, and aerospace among others.
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Self-healing coatings are highly advanced and have high demand in the global market. For instance, the thriving automotive industry is increasing its demand for self-healing polymer coatings for automobile parts. Increasing number of space research programs combined with the demand for self-healing parts in aerospace vessels are expected to drive demand for self-healing polymers. Moreover, the global building & construction sector is expanding swiftly, thus driving the demand for the self-healing polymer. Of the most innovative and highly advanced applications of self-healing polymers is the use of the same in the development of artificial organs. Growing industrialization and increasing disposable income translate to the high purchasing power of products which feature self-healing polymers, thus driving exponential growth for the global self-healing polymer market.
Self-healing polymers are a relatively new offering, and awareness regarding the same has not spread widely. This is likely to hinder market growth over the coming years, thus posing a challenge to the market.
The global self-healing polymer market is segmented on the basis of form, end-use industries, and regions. By form, the market is divided to include vascular, capsule-based, and intrinsic. Of these, the capsule-based segmented accounts for the most significant segment. By end-use industries, the market is segmented into building & construction, paint & coatings, electrical & electronics, healthcare, aerospace, and others. The paint and coatings segment accounts for 27% of the global market share and is followed by the building & construction segment.
Europe has been observed as the most significant regional self-healing polymer market. Countries such as Germany, Italy, and France, have highly developed end-use industries where there is a growing demand for self-healing polymers. The presence of various market leaders in the region and increasing consumer spending in Europe is anticipated to increase the market value for the region.
Meanwhile, the Asia Pacific is the fastest growing market with the highest CAGR during the assessment period. The presence of significant paint & coatings industry in the region and the growing establishment of advanced infrastructure in emerging economies will boost market growth for the APAC market. Moreover, the region has been established as a manufacturing hub for automobiles among other industries, and the increasing volume of production combined with the increasing demand for advanced safety features is anticipated to increase market value.
The Middle East & Africa also accounts for an important regional segment. Isreal is in the forefront of research & development and the growing construction activities in emerging economies such as the U.A.E are expected to impact the market positively.
Prominent market players profiled in MRFR’s report include Arkema Group, Autonomic Materials Inc., Covestro, Evonik Industries AG, Akzo Nobel N.V, Teijin Aramid, and others.
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