The growing demand for self-healing materials market
size in the automobile sector is expected to enable speedy expansion of
the market, states Fortune Business Insights, in a report, titled “Self-Healing Materials
Market Size, Share & Industry Analysis, By Type (Coatings,
Polymers, Asphalt, Fiber-Reinforced Composites, Ceramic, Metal), By Application
(Energy Generation, Building & Construction, Automotive &
Transportation, Electronics & Semiconductors, Medical, Others), By
Technology (Reversible Polymers, Microencapsulation, Shape Memory Materials,
Biological Material Systems, Others) and Regional Forecast, 2021-2028.” The
growing use of elastomers and polymers is expected to foster the healthy growth
of the market.

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The report on the self-healing materials
market accentuates:

• All-inclusive
  study of the market




• Important
  insights into the segments




• Comprehensive
  information about regions




• Valuable data
  about prominent players




• Latest
  developments in the market

Browse In-depth Summary of This Research Insight@ https://www.fortunebusinessinsights.com/self-healing-materials-market-102947

Market Driver:

Expansion of BASF’s Chemical Industry to Promote Growth

The growing focus of companies towards expanding their production
capacity can create opportunities for the market. For instance, in September
2019, BASF, a major in the chemical industry announced that it will
increase the production of ethylene oxide and ethylene oxide derivativesat its
Verbund site in Antwerp, Belgium. The total capacity for the project adds up to
400,000 metric tons a year to BASF's manufacturing potential for relevant
materials with an annual investment value of over € 500 m. furthermore, the
prospering automotive industry is expected to aid the expansion of the market.
Self-healing materials are chemically produced substances that have the
characteristics of self-healing without any external force. The growing focus of
OEMs towards healers as an external cover to cars is expected to enable the
growth of the market. Besides, the reduction of repairs by the use of healers
can spur its demand in the automotive industry, thus aiding the growth of the
market.

Nevertheless, the high cost of healers combined with the
availability of a variety of alternatives is expected to restrict the growth of
the market.

Regional Analysis:

Accelerating Pharmaceutical Industry to Encourage Growth in Europe

The market in Europe is expected to experience high growth during
the forecast period owing to the rising demand from the UK, Germany, France,
Italy, Spain. The elevating pharmaceutical industry in Europe coupled with
rapid business developments are factors expected to aid growth in the region.
The increasing application in the existing automotive and transport sector is
expected to further bolster the healthy growth of the market in Europe. North
America is the second-largest consumer of self-healing products. The growth in
the region is attributed to the strong demand from the domestic sector and
manufacturing base. The government initiatives to improve infrastructure is
expected to spur business opportunities for the market. The market in Asia
Pacific is expected to witness rapid growth due to the improving construction
industry. The increasing per capita income, urbanization, and a large
population can further encourage growth in the region.

Key Development:

April 2019: Arkema announced the 30 percent capacity
extension of its photocure liquid resin development plant in Nansha, China.

The Report Lists the Key Companies in the
Self-Healing Materials Market:

• AkzoNobel N.V.




• Arkema SA




• Autonomic
  Materials Inc.




• Avecom N.V.




• BASF SE




• Covestro AG




• Critical
  Materials S.A.




• I. Du Pont De
  Nemours




• Company




• Evonik
  Industries




• Sensor Coating
  Systems Ltd.