SELF-HEALING MATERIALS MARKET ANALYSIS

Self-Healing Materials MarketSize and Trends

Self-Healing Materials Market Outlook:

• In North America, the U.S. is the largest market for self-healing materials. The demand for self-healing materials in this region is due to the growing use of self-healing materials in various end-user industries such as aerospace and automotive. The presence of major players in North America such as Arkema Inc. and others are projected to result in developments of self-healing materials, supporting high growth in the market. For instance, Arkema Inc. collaborations with university and government laboratories helped Arkema to develop self-healing material products such as Reverlink in 2010. North America is the largest market for cladding systems in burgeoning construction industry is also one of the driving factors for the self-healing materials market to strive in the US market. Moreover, the Trump government promises of change in public infrastructure and the New Building Canada Fund commitment towards sanctioning of US$ 10 billion over a 10-year period i.e. 2014-2024, to build public infrastructure. This factors are expected to propel the growth of the self-healing materials market in North America.
• The Asia-Pacific region is expected to be the fastest growing market for self-healing materials. The ever increasing industrial development rates, condensed population in cities, and escalating funds in the automobile and electrical sectors, are the driving forces that augment vigorous regional growth of this market. The availability of a bigger market combined with cheaper manufacturing costs is projected to experience enhanced application of self-healing materials in this region. Asia Pacific is the fastest growing market due to the flourishing growth of construction industries in the emerging markets of India, China, Indonesia, and the ASEAN countries. The shift in population from rural settlements to cities, has augmented this growth. According to stats released by World Bank in 2016, 57% of China’s and 33% of India’s population live in urban settlements. These factors drive the growth of the self-healing materials market in this region.
• The increasing advanced infrastructure and development in the Middle East is projected to result in an increasing demand for self-healing materials in this region during the forecast period. Joint ventures and consolidation of major industry players with the regional manufacturers, is expected to boost the self-healing market positively in this region. The growth of the construction market in various emerging counties of Africa is expected to provide ample opportunities for growth of the self-healing materials market in this region, during the forecast period