Self-healing Materials Market Size, Share & Trends Analysis Report By Product (FRC, Coatings), By Technology (Reversible Polymers, Microencapsulation), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global self-healing materials market size was valued at USD 1.68 billion in 2022 and is estimated to grow at a CAGR of 24.8% from 2023 to 2030. Self-healing materials help in automatically repairing and restoring functionalities at microscopic levels without any human intervention. They are triggered by environmental stimuli including alterations in UV light, and pH, or by mechanical damage, such as a microcrack. The industry has faced a downfall during the pandemic. This is because of the implementation of temporary lockdowns and other strict regulations by governments across the globe to curb the spread of the virus.

This had impacted the operations of many major end-use industries, including automotive and building & construction, thereby negatively impacting the demand for self-healing materials. The U.S. market 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 the product portfolio that helps capture untapped markets by increasing the customer base. Self-healing materials are designed to repair the damage effectively impeding the propagation of the damage and extending the shelf-life of the materials.

Novel technologies, such as hollow glass fibers, optical fibers, and microcapsules, are utilized to manufacture specialty composites depending on the intrinsic and extrinsic types. Therefore, self-repairing is a process that restores the deformed structure by compounds already present with it, analogous to the biological 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 reconstructing structural & functional integrity. Microcapsules are made to be robust enough to survive the manufacturing process and consumption of the substances in their intended application. These materials help reduce 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 in the near future. Self-healing mortar and cement can be utilized in the building & construction industry boosting the product demand over the forecast period.

Product Insights

The concrete self-healing materials segment is estimated to register the fastest CAGR of 26.8% from 2023 to 2030. This can be attributed to various functional attributes of concrete materials, such as high strength, minimum shrinkage & creep, durability, and cost-effectiveness. The growth in self-healing coatings materials 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, oil & gas, marine, aerospace, and consumer goods sectors.

The demand for asphalt self-healing materials 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 unique material-engineered technology. Such technology helps in decreasing the unavoidable premature aging of asphalt pavements, and the number of natural resources used to maintain road networks. Furthermore, it supports the reduction of CO2 emissions and increases road safety. Thus, supporting the overall growth of the market.

Technology Insights

The reversible polymers segment led the industry in 2022 and accounted for the maximum share of more than 34.50% of the overall revenue due to its implementation in various industrial sectors, especially in the medical sector. In addition, the rising geriatric population is expected to boost the market growth. Stimulus-responsive microstructures are used in the manufacturing of sensors, micro-actuators, drug delivery systems, membranes, and other such advanced microdevices. Shape-memory polymers are used to manufacture Shape-Memory Assisted Self-Healing (SMASH) coatings.

These surfaces aid in structurally healing damaged surfaces and restore corrosion resistance properties. The demand for microencapsulation technology, which is used in self-healing materials, 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 mechanisms, 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 & construction segment led the industry in 2022 and accounted for the maximum share of more than 34.80% of the overall revenue. As construction activities are increasing, especially in the emerging countries of Asia Pacific including China and India, the self-healing materials demand for construction applications is expected to witness significant growth over the forecast period. The 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 the construction industry over the forecast period, thereby positively influencing the market growth over the forecast period.

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

Regional Insights

Asia Pacific dominated the global market and accounted for the largest share of more than 28.85% of the overall revenue. The region is projected to expand further at the fastest growth rate from 2023 to 2030. Rapid industrialization, dense population, and increasing Foreign Direct Investments (FDIs) in the automotive and electronics sectors are the major factors driving the region’s 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 companies are diversifying their 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 are likely to support the growth and development of self-healing materials by 2030. Europe accounted for the second-largest share of the overall revenue in 2022 and is expected to grow at a steady CAGR over the forecast years. Rising consumer spending and purchasing power with the high expansion of multinational companies, especially in France and Italy, are anticipated to leverage industry 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 alliances 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 materials 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 global 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 Corp.

• BASF SE

• NEI Corp.

Self-healing Materials Market Report Scope

Global Self-healing Materials Market Report Segmentation

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 2018 to 2030. For the purpose of this study, Grand View Research has segmented the globalself-healing materials market report on the basis of product, technology, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Concrete

  • Coatings

  • Polymers

  • Asphalt

  • Fiber-reinforced Composites

  • Ceramic

  • Metals

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Reversible Polymers

  • Microencapsulation

  • Shape Memory Materials

  • Biological Material Systems

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Energy Generation

  • Building & Construction

  • Automotive & Transportation

  • Electronics & Semiconductors

  • Medical (Implants & Devices)

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa