Self-healing Materials Market to Grow at CAGR 27% During Forecast Period | Discover the Factors Influencing the Demand
The Insight Partner
Self-healing Materials Market size was valued at USD 502 million in 2022 and it is projected to reach USD 2,100 million by 2028
NEW YORK, UNITED STATES, February 14, 2023 /EINPresswire.com/ -- The Insight Partners published latest research study on “Self-healing Materials Market1 Size, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Polymers, Composites, Ceramics, Concrete, and Others), Form (Extrinsic, and Intrinsic), Application (Healthcare, Automotive and Transportation, Electrical and Electronics, Building and Construction, and Others), and Geography,"
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Global Self-healing Materials Market: Competitive Landscape
Acciona S.A.; AkzoNobel N.V.; Applied Thin Films, Inc.; Arkema SA; Autonomic Materials Inc.; Avecom N.V.; BASF SE; Covestro AG; Critical Materials S.A.; and Devan Chemicals are among the key global self-healing materials market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the self-healing materials market and its ecosystem.
Report Coverage- Details
Market Size Value in- USD 502 Million in 2022
Market Size Value by- USD 2,100 Million by 2028
Growth rate- CAGR of 27% from 2022 to 2028
Forecast Period- 2022-2028
Base Year- 2022
No. of Pages- 150
Historical data available- Yes
Segments covered- Type, Form, End Use
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage-Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key Research Capabilities- Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
The consumer electronics industry is booming with the increasing usage of electronic appliances such as smartphones, laptops, televisions, and other electronics products. Consumer electronic goods have become a necessity with advancement in technology. The self-healing materials in electronic industry is utilized in the fields of energy harvesting devices, energy storage devices, and sensors. With the growing consumer electronics industry, manufacturers are continuously focusing providing advanced and high-quality products. Further, the growing demand of industries such as healthcare, construction, electronics, etc. has resulted in huge consumption of self-healing materials. Thus, rapidly growing consumer electronic industry, as well as the propelling demand for self-healing materials from various other industries, is expected to spur the self-healing materials market.
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The construction industry in the US, China, and India is growing tremendously with rapid industrialization. The high rate of construction activities creates an enormous demand for various construction materials. Self-healing materials such as concrete is utilized in multiple construction-specific applications. Rising residential and commercial construction activities and increasing infrastructural development encourage the utilization of self-healing materials. In North America, the construction industry is one of the significant contributors to the region's economy. According to the Associated General Contractors of America (AGC), the US construction industry creates $1.4 trillion worth of structures each year. Rising construction activities due to increasing population and rapidly growing commercial sector across the region are driving the construction sector's growth in North America.
Further, self-healing materials have many applications in manufacturing medical devices. The growth in R&D activities related to self-healing materials for processing of medical devices such as self-healing gloves and bandages to bone, blood vessel, and muscle scaffolding implants that could repair themselves similarly the way tissue does is fueling the demand for self-healing materials in medical research field.
The healthcare market in China has grown persistently to become one of the largest markets in the world in recent years. The Government of China is making efforts to support its healthcare industry. Moreover, India has grabbed an important position in the global healthcare sector. According to the India Brand Equity Foundation, the country is the largest provider of medical devices globally. The Indian government has also taken various initiatives to promote the healthcare industry. Therefore, the continuous growth of the healthcare industry and a substantial demand for self-healing materials in this industry are factors driving the self-healing materials market growth.
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