Self-healing Materials Market To Reach $8.85 Billion By 2030

Self-healing Materials Market Growth & Trends

The global self-healing materials market is anticipated to reach USD 8.85 billion by 2030 and is anticipated to expand at a CAGR of 23.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The surged construction spending in the emerging economies of the Middle East and Asia Pacific, owing to substantial industrial and economic development in them, coupled with their population expansion, is anticipated to fuel the demand for self-healing materials in these regions over the forecast period.

Self-healing materials are a recent development in the field of building and construction materials, as they are capable of repairing themselves following damage or exposure to environmental conditions. These materials are designed to enhance the durability and shelf life of coatings, composite materials, concrete, and asphalt.

Additionally, self-healing materials are significant in development of organic electronics, with several end-use applications, including new integrated and portable devices. With the development of stretchable, printable, and implantable electronics, self-healing organic field-effect transistors (OFETs) are gaining increasing importance in the market. Hence, with increasing demand for renewable energy and rapid development in the field of organic electronics, market demand for self-healing materials is also expected to grow in the coming years.

However, high cost of these materials acts as a restraint in the growth of a market. Self-healing materials such as polymers, metals, ceramics, and their composites can fully or partially restore their original properties after being damaged during operational use. These materials are costlier than conventional materials owing to the expensive technological processes involved in their manufacturing. Moreover, the further processing of self-healing materials into final products is also expensive.

Major self-healing technologies are divided into autogenous healing, chemical additives-based healing, and bio-based healing. Autogenous healing is concerned with the ability of a material to repair cracks automatically. Chemical additive-based healing depends upon a series of chemical reactions. Reaction mainly consists of two healing agents, namely capsules and vascular tubes, which, when broken down, release chemical agent that repairs cracks automatically. Third, most technology bio-based healing involves the incorporation of bacteria, which induces calcium carbonate and builds up the seal against crack-related water ingress.

Self-healing materials market is characterized by integration across the two stages of value chain. Few of the manufacturers are involved in the production of raw materials as well as well as captively consume these materials for the production of self-healing materials. This strategy aids companies in regulating the quality of raw materials that ensures premium quality products. It also helps in mitigating the effects of price volatility and any disruption in supply chain.

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Self-healing Materials Market Report Highlights

• The self-healing coatings segment accounted for a largest revenue share of 28.0% of the market in 2023. Growth of this segment of the market can be attributed to the surged use of self-healing coatings in the automotive, electronics, and construction industries, as they can significantly improve the corrosion resistance and service lifetime of metals. These coatings can restore the physical coating resistance, seal defects, or inhibit corrosion reactions at coating defects.

• Based on technology, the reversible polymers segment accounted for the largest revenue share of 34.1% of a market in 2023. Covalent bonds between polymers can reversibly undergo repeated cleavage and reformation, resulting in the efficient regeneration of reversible crosslinks between polymer chains. Reversible polymers are used for producing self-healing coatings, composites, and polymers.

• The building & construction segment of the market is projected to grow at the fastest CAGR of 24.7% in terms of revenue over the forecast period owing to increasing construction activities in Asia Pacific, especially in China and India. Surging demand for non-residential structures in the country has led to a rise in the number of construction projects in China. This, in turn, has fueled the demand for self-healing concrete and coatings for use in buildings and construction activities in country.

• Major strategies adopted by key companies in the market include acquisitions, new product developments, and partnerships with third-party distributors to enhance their position in the global market.

Self-healing Materials Market Segmentation

Grand View Research has segmented global self-healing materials market on the basis of product, technology, application, and region:

Self-healing Materials Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Concrete

• Coatings

• Polymers

• Asphalt

• Fiber-reinforced Composites

• Ceramic

• Metals

Self-healing Materials Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Reversible Polymers

• Microencapsulation

• Shape Memory Materials

• Biological Material Systems

• Others

Self-healing Materials Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Energy generation

• Building & Construction

• Automotive & Transportation

• Electronics & Semiconductors

• Medical

• Others

Self-healing Materials Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

• Asia Pacific

  • China

  • Japan

  • India

• Central & South America

  • Brazil

• Middle East & Africa

List of Key Players in the Self-healing Materials Market

• The Dow Chemical Company

• Covestro AG

• High Impact Technology, LLC

• Huntsman International LLC

• Michelin Group

• MacDermid Autotype Ltd.

• Akzo Nobel N.V.

• Evonik Industries Corporation

• BASF SE

• NEI Corporation