Global self-healing composites market is set to witness a significant CAGR inducing a high amount of growth of the market in the forecast period of 2019-2026. The report contains data from the base year of 2018, and historic years of 2017. This rise in market value can be attributed to the increasing adoption of the product in different materials and its characteristics increasing its demand.
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Self-healing composites are materials that have the ability to heal themselves automatically, these composites are categorized namely; capsule based which contains liquid inside these capsules capable of filling and closing the cracks. Whenever cracks occur, they use these capsules which are integrated into the material surface to rupture and fill it with liquid. The other is vascular self-healing which uses the same concept of capsule based on a macro level through a circulation system which helps in continuous healing.
Key Market Competitors: Global Self-Healing Composites Market
Few of the major competitors currently working in the self-healing composites market are Solvay, TORAY INDUSTRIES INC., Mitsubishi Chemical Corporation, Hexcel Corporation, HYOSUNG, TEIJIN LIMITED, Owens Corning, PPG Industries Inc., Huntsman International LLC, SGL Carbon SE, Momentive, DuPont, Saint-Gobain, Weyerhaeuser NR Company, Chongqing Polycomp International Corporation, and Jushi Group Co. Ltd.
- Growing technological advancements and increase in adoption of the product in different applications is expected to drive the market growth
- Higher strength in relation to other materials and increased product life due to self-healing is expected to drive the market growth
- High cost of product in comparison to traditional materials is expected to restrain the market growth
- Difficulty in increasing production capacity and high cost of production process is also expected to restrain the market growth
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Segmentation: Global Self-Healing Composites Market
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In October 2018, Solvay and European International Council (EIC) hosted an event in Brussles, Belgium on October 16, for start-ups to measure the innovation undergone in advanced materials and composite in consumer goods and next generation mobility.
- In December 2015, Solvay announced that they had completed the acquisition of Cytec. This acquisition is aimed at expanding and using significant business opportunities in relation to advanced lightweight materials.
Competitive Analysis: Global Self-Healing Composites Market
Global self-healing composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of self-healing composites market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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