Self-Healing Materials Market to Reach $2.4 billion by 2022
GLEN ALLEN, VA – Industry analyst firm n-tech Research has released 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.
Self-healing materials include both coatings and surfaces with integrated self-healing mechanisms. In the report, n-tech Research covers 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 10-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.
According to the report, reversible polymers dominate the self-healing materials market at present and will still account for 37% 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, n-tech analysts 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. Analysts at n-tech Research 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 (CNTs) 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.
For additional information about the report, visit http://ntechresearch.com/market_reports/markets-for-self-healing-materials-20172024.