May 23, 2017, Tampa, Florida – Global self-healing materials market is expected to reach USD 3.80 billion by 2024, according to a new research study published by Ameri Research.Increasing construction spending triggered by population expansion along with escalating investments is anticipated to drive market growth.
The emergence of private sector construction firms in China, India, and the UAE is expected to further contribute to the construction spending over the next seven years.The growth of automotive industry in emerging economies of Asia Pacific and Latin America is expected to bolster demand further. Self-healing coatings are being used widely in theautomotive industry due to its superior properties such as long shelf life, glossy appearance, and inexpensive maintenance cost.
Materials including concrete and polymers are expected to witness prolific growth over the forecast period owing to increasing awareness among consumers regarding benefits of self-healing properties. Concrete is expected to account for more than 20% of the overall revenue by 2024.Electronics segment is anticipated to witness strong growth due to rising usage of coatings in electronic gadgets such as laptops, mobiles, and tablets.
Click the link below to view the report description: – https://www.ameriresearch.com/product/self-healing-material-market-outlook-2024
Key findings from the study: –
- Extrinsic based material is anticipated to remain the dominant form type over the forecast period.
- Europe was the largest regional market in 2016. Large scale industrial production coupled with strong recovery of infrastructure sector is set to drive regional market growth.
- Asia Pacific is anticipated to emerge as the fastest growing regional market with demand driven by rising automotive sales along with theshift of manufacturing sector towards countries such as India, Thailand, Malaysia and Vietnam.
- Building & construction was the leading end-use segment and is expected to account for considerable market share by 2024.Polymers, coatings, concrete, and asphalt are being widely utilized in various applications.
- Automotive industry is also anticipated to witness prolific growth owing to rising automotive sales along with strong demand for self-healing coatings
- Key industry participants includeAkzo Nobel N.V., Covestro AG, Slips Technologies Inc., Applied Thin Films Inc., E.I. DuPont De Nemours and Company, Avecom N.V., Devan Chemicals, Autonomic Material Inc., Evonik Industries AG, BASF SE, and Arkema SA.
- Self-Healing Materials Market by Form (Revenue, USD Million)
- Self-Healing Materials Market by Material Type (Revenue, USD Million)
- Self-Healing Materials Market by End-Use (Revenue, USD Million)
- Building &Construction
- General Industrial
- Self-Healing Materials Market by Region (Revenue, USD Million)
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
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