Self-Healing Polymers Market – Market Overview
Self-Healing Polymers are a lucrative market and is expected to have a steady growth during the forecast years. Self-healing polymers are a type of artificial polymers which have an inbuilt capability of repairing or healing themselves without any external response or any human intervention. These polymers are classified into two groups depending upon their ability of Self-Healing mechanism namely intrinsic and extrinsic. These Self-Healing Polymers follows a set of three processes in case of any damage. The first step of response is actuation or triggering which happens instantly after the detection of damage, the second step is the transfer of materials to the affected area, and the final step is the chemical healing process. These Self-Healing Polymers has wide applications and provides base material for various products such as films, rubbers, fibers, plastics and paints which paves their way into many end-user industries such as building and construction, paints and coatings, and electrical and electronics among others. The Global Self-Healing Polymers Market can be segmented on the basis of form, end-user industry and regions. On the basis of end user industry paints and coatings industry is anticipated to be the dominant segment and is expected to retain its dominance during the forecast period. The growing building and construction throughout the globe has augmented the demand for paints and coatings which in turn is expected to be the major factor driving the market.
The market is estimated to demonstrate a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023). According to the analysis of MRFR, the major market forces and trends driving growth of the global Self-healing polymers Market includes growth of construction sector and the burgeoning growth in the automobile industry. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the Global Self-healing Polymers Market during the forecast period. In addition to this, the growing application in the aerospace and the artificial organ sector is also expected to contribute substantially to the growth of the market.
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Self-Healing Polymers Market- Competitive Landscape
The Global Self-Healing Polymers Market is a highly lucrative market driven by flourishing growth in paints and coatings and automobile industry, along with the propelling electrical and electronic industry. Covestro AG (Germany), Arkema Group (France), Evonik Industries AG (Germany), Autonomic Materials Inc. and others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the Global Self-healing Polymers Market is projected to witness considerable competition over the forecast period of 2017-2023.
Europe is anticipated to be the largest market followed by North America, whereas Asia Pacific is expected to be the fastest growing market. The growing adoption rate coupled with the developed end-user industries are the major factors driving the market growth in Europe. The major countries accounted for this growth include U.K, Germany, France, and Italy and others. Moreover, the expansion of multinational companies in Europe coupled with the presence of major manufacturers of Self-Healing Polymers in the region are other factors adding to the growth of the market.
Industry/ Innovation/ Related News:
25 December, 2017- A team of researchers from the University of Tokyo, has developed a new Self-Healing Polymer called polyether-thioureas. This new Self-Healing Polymer is mechanically robust and has the capacity of healing itself with pressure applied from hand, in normal room temperature. This new development is expected to find large application in the smart phone display screens and can be an efficient replacement of gorilla glass.
21 September, 2017- LyondellBasell has developed a new product Koattro KT MR05 with Self-Healing properties. This products is expected to find its application in automotive parts, coatings, sealants, and surface protection films among others.
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