ID: MRFR/CnM/2791-HCR | February 2021 | Region: Global | 133 pages
Self-Healing Polymer Market is expected to grow at 6.90% CAGR from 2020 to 2030.
Self-Healing Polymers are a part of the self-healing materials market, which is expected to grow at the maximum quantum during the forecast period. These materials can be recognized as artificial or synthetically created products and materials. These materials have the capability to build in and heal the damage automatically and autonomously. There is no need for human supervision under such tasks that have been undertaken by the materials and products. The self-healing polymers have been recognized for their utilization in coatings and concrete applications. The rising use of material applications belonging to the market is responsible for a major escalation of the Self-Healing Polymer Market Size during the global forecast period.
COVID 19 Analysis
The Self-Healing Polymer Market Size has been subject to the havoc created by the COVID 19 pandemic. The pandemic has brought along new kinds of functional and operational struggles which the market players were not well versed with. Hence, a lot of time has been wasted adjusting to the new norms. The lockdown and functional restrictions have further impacted the working and availability of skilled workforce, raw material, and resources that have further impacted the functions of the market players and their ability to maintain a supply chain mechanism.
However, to help the market operations and players revive the Self-Healing Polymer Market growth, trends, and demand, the government and public sector are playing a vital role. They are increasing their investment in the research and development sector. This will solve the issue of the availability of funds and hence, help the market players enhance their operations to meet the demand. The market players are focusing on the large-scale development of products and services and launching them in the international market to cover the needs of a larger audience during the ongoing forecast period.
There is an increasing rate of road constructions which are majorly dependent on the market and its products. This is one of the major factors that will help the market towards its global growth as per the predictions. Especially in developing countries, the demand is on the rise and hence, the market is expected to grow as per the forecast by the Self-Healing Polymer Market experts and leaders. The end-use industries are enhancing their demand for advanced self-healing polymers. This fact is backed by the wide introduction of self-healing microcapsules that contain a rejuvenator that helps in declining the crack formation.
One of the major issues that might restrain the global growth of the Self-Healing Polymer Market is that their availability in the market comes with a higher price. This leads for them to be more expensive in comparison to the traditional materials and hence, might decline the projected growth during the forecast period. Further, securing a competitive degree in the market and profitability will impact the growth goals of the market for the upcoming years, during the forecast period.
There is an increase in the adoption of self-healing polymers and products as they possess the ability to repair the damage that is a result of mechanical friction. Also, the shift from traditional materials towards supporting a wide use of the advanced materials owing to the long-term benefits offered is likely to help the Self-Healing Polymer Market during the forecast period. The rising support from the government sector through their policies related to legislations, and research and development activities will expand the market, its industries, and operations during the forecast period. Further, rising knowledge is expected to present profitable opportunities which have a range of positive attributes in store for the market.
The Self-Healing Polymer Market Share, by End Use Industry (2016) (%):Segment Overview
The Self-Healing Polymer Market Value is expected to grow owing to the splendid performance of the market segments and cater to the needs of the target audience during the forecast period. The market has been segmented based on the following:
Based on Form
The form segment of the Self-Healing Polymer Market has further been segmented into intrinsic and extrinsic forms. The extrinsic segment has further been divided into vascular forms and capsule-based forms.
Based on Material Type
The Self-Healing Polymer Market Segment based on material type includes coatings, polymers, asphalt, composite, ceramic, metals, and others. The Self-Healing Polymer Market is a prominent part of the Self-Healing Materials Market and hence, is projected to undergo maximum growth as per the predictions.
Based on the End-Use Industry
The industry segment of the Self-Healing Polymer Market includes demand from a huge range of industries like building and construction, general industries, mobile devices, the transportation sector, and others. The transportation segment further includes the aerospace and automotive industry.
The Self-Healing Polymer Market is also having other segments like sports and medical devices.
The Self-Healing Polymer Market Trends have been functional and rather more active in the North American market like the US, Canada, and Mexico, alongside the other regions like the APAC region, Europe, and the rest of the world (RoW).
The European nations are witnessing a surge in demand as there is a high use of the self-repairing specialty polymers backed with advanced research and development activities that will help the market grow. Also, the expansion of automobile production alongside the innovation processes has positive attributes for the market during the forecast period. The market expansion is a result of the widening of the construction industry along with the availability of rapid urbanization and population growth will help the European market dominate the operations for the forecast period.
The Self-Healing Polymer Market Forecast is based on the propelling market trends and the rising degree of competition prevailing amongst the global market players. The report helps the investors identify the market competitors and make investments based on their potential to help the market grow during the forecast period that ends in 2028. The market players are as follows:
|Market Size||2030: Significant value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Form, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Acciona S.A. (Spain), Slips Technologies, Inc. (U.S.), AkzoNobel N.V. (Netherlands), Sensor Coating Systems Ltd. (U.K.), Devan Chemicals (Portugal), Evonik Industries (Germany), Applied Thin Films, Inc. (U.S.), I. Du Pont De Nemours and Company (U.S.),Critical Materials S.A. (Portugal), Covestro AG (Germany), Arkema SA (France), BASF SE (Germany), Autonomic Materials Inc. (U.S.), Avecom N.V. (Belgium)|
|Key Market Opportunities||The global growth of the Self-Healing Polymer Market is that their availability|
|Key Market Drivers||There is an increasing rate of road constructions|
Frequently Asked Questions (FAQ) :
Self-healing polymers hold the ability to repair themselves automatically without any external treatment or human intervention. These polymers are used as a base material for various products, including rubbers, plastics, films, fibers, and paints.
The Asia Pacific region accounts for the largest share in the global self-healing polymer market, and the region is anticipated to retain its dominance throughout the assessment period (2020-2030).
Increasing Investments in R&D to advance the self –healing property in polymers.
Kemira, Atul Ltd., Archroma, BASF SE, DyStar Group, and Chromatec Inc. are some of the players leading the global Self-Healing Polymer market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global self-healing polymer market adopt to gain a larger competitive advantage.