Self-healing Materials Market to Reach $2.4 billion by 2022
Industry analyst firm n-tech Research today announced the release of a new report titled “Markets for Self-healing Materials 2017-2024”. The report states that the market for self-healing materials will reach $2.4 billion by 2022. Although some applications for self-healing materials have not taken off since n-tech’s previous report on the subject in 2015, automotive and construction uses are already generating significant revenues.
About the report:
Self-healing materials includes both coatings and surfaces with integrated self-healing mechanisms. In this report we cover applications for such materials in consumer products, automotive, energy generation, construction, military, medical and aerospace. Materials covered include reversible polymers, shape memory materials, vascular systems, capsule-based systems and biomaterials among others. The report also provides ten-year revenue forecasts for self-healing materials in all of the applications covered with breakouts by type of application, self-healing mechanism, and customer geography. In addition, we critically assess the business models employed by the firms focused self-healing materials space.
Reversible polymers dominate the self-healing materials market at present, and will still account for 37 percent of the market by 2022. However, the big growth opportunities will come from self-healing systems based on microencapsulation or vascular systems. Self-healing materials using microencapsulation systems will generate revenues of $1.1 billion in revenues in 2022. The automotive sector already uses self-healing aftermarket coatings, but has begun to sample much higher performing self-healing materials that can comply with the industry’s demanding coatings requirements. The rapidly growing use of relatively fragile composites in the automotive sector is a strong driver for the development of self-healing composites. There are similar trends in the construction sector, with self healing concrete undergoing commercialization. Although, it will take until 2019 to take off, we expect sales of self-healing materials for construction to reach $475 million by 2022. Composites are not the only materials that are becoming self-healing. Interesting work is being done on self-healing metals – although at an early stage, a market for self-healing metals can hardly be doubted. We are also witnessing a concerted effort to create self-healing ceramics – these will have an important role to play for engines and electrical generators. Carbon nanotubes have been envisioned for sensors that can detect cracks and initiate a self-healing process. CNTs could also be used as thermal guides to heal reversible polymers.
Contact: Robert Nolan n-tech Research (804) 938-0030 email@example.com