SELF-HEALING MATERIALS MARKET TO REACH USD 6.3 BILLION BY 2027 | CAGR 26.9% – FORENCIS RESEARCH

Global Self-Healing Materials Market: Key Highlights

• According to the new market research report “Global Self-Healing Materials Market by Form (Extrinsic, Intrinsic), Material Type (Concrete, Coatings, Polymers, Asphalt, Ceramic, Metals), End-Use Industry (Building & Construction, Transportation, Mobile Devices), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Self-Healing Materials market is estimated to reach USD 6.3 Billion by 2027 at a CAGR of around 26.9% during the review period.  
• Self-healing materials refer to materials that have the ability to repair damages without human intervention. These materials are inspired by biological systems that display the ability to restore after being damaged
• These materials are used across several end-use industries such as automotive, healthcare, military, construction, electronics, aerospace, and energy generation.
• These materials autonomously repair the damage thereby extending their life spans.
• Building & Construction is the dominant segment of the global self-healing material market.

Global Self-Healing Materials Market: Key Market Dynamics

• Growing application of self-healing materials in the construction industry is expected to drive the global self-healing material market
• Self-Healing materials yield long-term financial benefits compared to traditional materials is also a key driver that boosting the market growth
• Government policy shifts focus toward legislations/regulations mandating longer service guarantees/warranties is expected to propel the market growth
• However, limited awareness of the products primarily across the less developed economies is hampering the market growth up to a certain extent

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Global Self-Healing Materials Market: Regional Overview

• Europe

The Europe region dominates the global self-healing materials market owing to increasing demand from the automotive sector. The Automotive sector displays a significant demand for self-healing materials. This is because automotive OEMs apply an exterior covering to automobiles that work as a healer in the event of a scratch or a cut. Thus, the frequency of maintenance required due to scratches and cuts on automobiles is reduced significantly and also the frequency of regular maintenance.   

• Asia-Pacific

Asia-Pacific is likely to emerge as a major market for self-healing materials due to their increasing applications in construction and automotive applications. In particular, economic development in countries such as China and India propelling the construction sector is also leading to the growth of this regional market.

Global Self-Healing Materials Market: Key Players Overview

• Arkema SA:

Arkema S.A. is a specialty chemicals and advanced materials company headquartered in France. The company is organized into three business segments: Coating Solutions, Industrial Chemicals, and Performance Products. The Coating Solutions segment consists of business lines, including Acrylics, and Coating Resins and Additives. The company has the workforce more than 20,000 globally. The Group is structured into three coherent and complementary segments dedicated to Specialty Materials (Adhesive Solutions, Advanced Materials, and Coating Solutions) accounting for some 80% of its sales.

• BASF SE:  

BASF SE is a German multinational chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa. The company is organized into major business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, Agricultural Solutions.

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