Self-healing Materials Market Size, Share & Trends Analysis Report By Product (Concrete, Coatings, Polymers, Asphalt, Fiber-reinforced Composites), By Technology, By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global self-healing materials market size was valued at USD 1.28 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. Self-healing materials help in automatic repairing and restoring functionalities at microscopic levels without any human intervention. They are triggered by environmental stimulus including alterations in UV light, and pH, or by mechanical damage such as a microcrack. The market for self-healing materials has faced a downfall during the pandemic. This is because of the implementation of temporary lockdowns and other strict regulations by governments globally, so as to curb the spread of the virus. This had impacted the operations of many major end-use industries, including automotive and building and construction, due to temporary shutdown. This has negatively impacted the demand for self-healing materials.

In the U.S., the market for self-healing materials is stimulated by the presence of multinational companies that are engaged in continual R&D work to discover cutting-edge technologies. Implementation of sophisticated expertise supports the expansion of product portfolio that helps to capture untapped markets by increasing customer base. Self-healing materials are designed to repair damage at initiates at the micron scale, effectively impeding the propagation of the damage and extending the shelf-life of the material. Novel technologies such as hollow glass fibers, optical fibers, and microcapsules are utilized to manufacture specialty composites depending upon the intrinsic and extrinsic types. Therefore, self-repairing is a process that restores the deformed structure by compounds already present with it, analogous to biologically curing process in living organisms.

Microcapsules are present in self-healing materials that rupture when exposed to mechanical dent, causing healing agents to be released to the damaged site. These agents polymerize and mix fixing the damage and reconstruct structural and functional integrity. Microcapsules are made to be robust enough to survive the manufacturing process and consumption of the substances in its intended application. These materials support reducing the frequency of the maintenance costs required to renovate the damage, which is anticipated to be a key factor driving the growth of the market for self-healing materials in the near future. Self-healing mortar and cement can be utilized in building and construction industry boosting the demand over the forecast period.

Product Insights

The concrete segment led the market for self-healing materials and accounted for the largest revenue share of about 27% in 2021. This can be attributed to its various functional attributes such as high strength, minimum shrinkage and creep, durability, and cost-effective. The growth in self-healing coatings is primarily due to the increasing usage of these products in the industrial sector, including automotive and aerospace. These coatings are used by several industries such as machinery manufacturing, automotive sector, oil and gas, marine sector, aerospace sector, and consumer goods.

Demand for asphalt is expected to witness strong growth over the forecast period. Incorporating self-healing technology in the road construction and maintenance process has immense potential to develop the unique material engineered technology. Such technology helps in decreasing the unavoidable premature aging of asphalt pavements, and the amount of natural resources used to maintain road networks. Furthermore, it supports the reduction of CO₂ emissions and increases road safety.

Technology Insights

The reversible polymers segment led the market for self-healing materials and accounted for revenue share of 35.0% in 2021, due to its implementation in various industries, especially in the medical sector. In addition, the surging geriatric population is expected to bolster market growth. Stimulus-responsive microstructures are used in manufacturing sensors, micro-actuators, drug delivery systems, membranes, and other such advanced micro devices.  Shape memory polymers are used to manufacture Shape-memory Assisted Self-healing (SMASH) coatings. These surfaces aid in structurally healing damaged surface and restore corrosion resistance property.

The demand for microencapsulation technology is likely to gain momentum in the coming years, due to its ability to repair polymeric composites after being injured by mechanical and chemical progressions. Microspheres are present in the compounds that release their contents at an appropriate time by utilizing different release mechanism, depending on the end-use of encapsulated products. Capsule-based technology is a new alternative to conventional repairing techniques, and its functioning depends on its healing efficiency determination, the potential of the existing developed microencapsulated agents, and the size of microcapsules.

Application Insights

The building and construction segment led the market for self-healing materials and accounted for the largest revenue share of 34% in 2021. As construction activities are increasing especially in Asia Pacific region, owing to rise in construction activities in China and India, the product demand for construction applications is expected to witness significant growth over the forecast period. Rising socio-economic necessity to build hi-tech infrastructure and buildings in emerging economies of Asia Pacific and Latin America is expected to augment the development of construction industry over the forecast period, thereby positively influencing the market growth over the forecast period.

Automotive and transportation is another industry that has witnessed a rise in demand for self-healing materials. Electronics conglomerate such as Samsung and Apple have encouraged the usage of self-healing materials in electronic devices including mobiles, laptops, and desktops, which is expected to boost the product demand. Automotive OEMs uses an exterior coating applied to automobiles that trigger a curing mechanism when cut or scratched. This coating reduces the regular maintenance by healing the scratch mechanically. This is projected to present lucrative market opportunities by accelerating demand for advanced products in the coming years.

Regional Insights

Europe dominated the self-healing materials market and accounted for revenue share of 28.4% in 2021. Rising consumer spending and purchasing power with the high expansion of multinational companies, especially in France and Italy are anticipated to leverage the industry development by 2030. Asia Pacific is expected to capture the highest market revenues in the near future, growing at the fastest CAGR of 30.5% by the end of 2030. Higher rates of industrialization, dense population, and rising foreign direct investments in the automotive and electronic sectors are the major driving factors that support the robust regional growth.

Moreover, key players from developed economies including Europe and North America are increasing their manufacturing capacities and shifting their production units to emerging economies of Southeast Asia to capture a large customer pool. Medium-sized players are diversifying its product lines by adding new features as the older ones become outmoded to increase sales and profits. Favorable governmental trade policies coupled with improving GDP growth rates is likely to support growth and development by 2030.

Key Company & Market Share Insights

Major companies are focusing on optimum production and selling growth by adopting various competitive business strategies. They are involved in forming strategic alliance and signing partnerships with local and regional players to provide technological expertise for new product development. Business development entails the realignment of its growth approaches in the product-market environment that involves integration, intensive expansion, international operation, and diversification. Self-healing material manufacturers are adopting an intensification strategy to concentrate on their primary line of business to achieve their growth objective by growing their operation sizes. Some of the prominent players in the self-healing materials market include:

• 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

Self-healing Materials Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this report, Grand View Research has segmented the global self-healing materials market report on the basis of product, technology, application, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Concrete

  • Coatings

  • Polymers

  • Asphalt

  • Fiber-reinforced Composites

  • Ceramic

  • Metals

• Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Reversible Polymers

  • Microencapsulation

  • Shape Memory Materials

  •  Biological Material Systems

  • Others

•  Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Energy Generation

  • Building & Construction

  • Automotive & Transportation

  • Electronics & Semiconductors

  • Medical (Implants & devices)

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa