Self-Healing Polymer Market – Market Overview
Self-Healing Polymer Market is expected to have a steady growth during the forecast years. Self-Healing Polymers are a class of artificially developed polymers that has the ability to automatically repair itself without any external treatment or force. These polymers are used as base materials for various products ranging from rubber to paints and fibers. The property of Self-Healing makes these polymers highly desirable owing to the reduce cost of maintenance. The Self-Healing process stats itself with change in external environments such as temperature and light among others. The Self-Healing property makes them ideal for the use in many end use industries such as building & construction, paints & coatings, aerospace, medical & healthcare, and electrical and electronics among others. The growing use of these polymers in medical devices and drug delivery system is expected to boost the global market during the forecast years. The Global Self-Healing Polymer Market is segmented on the basis of form, end use and region. On the basis of form, the market is segmented into capsule based, vascular, and intrinsic. On the basis of end use, the global market is segmented into aints & coatings, building & construction, electrical & electronics, aerospace, healthcare and others. The capsule based form segment is expected to be the largest form segment, whereas the paints & coatings is anticipated to generate the highest revenue during the forecast years.
According to the analysis of MRFR, the major market forces and trends driving growth of the Global Self-Healing Polymer Market includes growth of construction sector and the burgeoning application in the automobile industry. Moreover, the increasing personal disposable income in the developing economies especially in Asia Pacific has fuelled the construction and automobile sector which in turn is further expected to boost the growth of the Global Self-Healing Polymer Market during the forecast period.
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Self-healing polymer Market- Competitive Landscape
The Global Self-Healing Polymer Market is a highly lucrative market driven by flourishing growth in electrical, aerospace, healthcare and construction industry. Covestro AG (Germany), Arkema Group (France), Evonik Industries AG (Germany), Autonomic Materials Inc. (U.S.), Teijin Aramid (Netherlands), Akzo Nobel N.V. (Netherlands) among others are some of the major players operating in this market. Most of these market participants are adopting strategies such as capacity expansion, product innovation, and merger & acquisition to enhance their grip over the global market. Taking account of these trends the Global Self-Healing Polymer Market is projected to witness considerable competition over the forecast period of 2017-2023.
Asia pacific is expected to be the fastest growing region with an expanding CAGR during the given period. The increasing globalization and urbanization in the region has boosted various end use industries such as construction and automobile which is a dominant factor generating the demand for self -healing polymer. Moreover, increasing population in India and China has brought about more government spending in the health care industry which is projected to further surge the market growth. In addition to this, the rising foreign direct investment in the electrical and electronic sector is also estimated to generate revenue in the Global Self-Healing Polymers Market.
Industry/ Innovation/ Related News:
23rd December, 2016- Researchers from university of California developed a highly stretchable conductive material that has self-healing propertiesthat can be electrically activated to power artificial limbs and also be used to improve electronic devices and batteries.
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