The global self-healing materials market size is expected to reach USD 62.66 billion by 2028, exhibiting a CAGR of 62.5% between 2021 and 2028. The increasing adoption of CMCs, composites, polymer-based materials in construction buildings will encourage the healthy growth of the market, states Fortune Business Insights, in a report, titled “Self-Healing Materials Market, 2021-2028.”
The self-healing materials market size stood at USD 1.29 billion in 2020.
In 2020, the global pandemic had a mixed effect on the consumer goods industry. The supply chain instability resulted in significant declines in consumer products prices, but had a smaller effect on some sectors such as food and drink, shipping, and consumer electronics. Insignificant cash flow, the adaptation of modern online and digital-first technologies, supply chain management, and inventory management, on the other hand, have been difficult obstacles for producers and vendors during the pandemic. As a result, businesses are focusing on developing and introducing innovative plans to respond to the new standard and set a new supply chain approach to sustain revenue and development in such challenging times.
Acquisition of Air Products by Evonik Industries AG to Strengthen Business
Evonik Industries AG, based in Germany, a specialty chemicals company, completed the procurement of Air Products, Inc.'s specialty additives industry (Performance Materials Division) for approximately €3.5 billion. The transaction funding was accomplished in September and would comprise €1.6 billion in business assets, with the remaining portion backed by shares with an asset value of €1.9 billion. The acquisition will have an exceptional effect on this market as it will raise the adjusted earnings per share (EPS) of Evonik.
Rising Demand for Self-Healing Materials to Promote Market
For the past few decades, self-healing systems have seen major advancements. Various chemistry and material engineering R&D experts have been continuously engaged in creating self-healing polymeric materials, which will boost the market share. Self-conductive materials are electronic or bioelectric materials made by incorporating flexible bonds into inorganic nanoparticles through conductive fillers in self-healing polymers. NASA has used various self-healing devices for insulation frameworks and engineering design, with excellent performance and no scars after healing. In addition, the growing utilization of these materials in aerospace, rotorcraft, aircraft, and bulletproof applications in the defense sector will have an outstanding effect on the self-healing materials market growth.
Browse summary:
https://www.fortunebusinessinsights.com/self-healing-materials-market-102947
Transportation Segment to Hold the Largest Share
Based on form, the market is divided into intrinsic and extrinsic. The intrinsic segment is expected to hold the largest share during the forecast period due to its innate ability to restore the integrity of the material after damage.
Based on the product, the market is segmented into polymer, concrete, metal, coating, ceramic, asphalt, and fiber-reinforced composites.
Based on the application, the market is classified into transportation, consumer goods, building construction, energy generation, healthcare, and others. Transportation is expected to account for the high share due to the high demand for materials to maintain the structural integrity in vehicles.
Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
High Demand for Self-Healing Materials to Intensify Market in Europe
- Rising awareness about the benefits of self-healing materialssuch asdurability, thermal stability, abrasion resistance, stiffness, and strength will fuel its demand in Europe.
- High demand for consumer goods, consumer electronics, and wearables will augment growth in Asia Pacific.
- The utilization of polymer-based self-healing materials in the aerospace and defense sector will push growth in North America.
- The increasing wind power construction activity is expected to accelerate the healing materials industry in the Middle East and Africa.
Emphasis on Improved Product Quality to Intensify Competition
Local producers are increasingly incorporating cutting-edge technology into their products. Manufacturers have been seen focusing on improving product quality and establishing solid manufacturing and export networks in order to achieve an edge over their competitors. Acciona S.A., AkzoNobel N.V., Arkema SA, BASF SE, Covestro AG, Du Pont, Evonik Industries, among others are some of the major players in the global market.
The Report Lists the Key Companies in this Market:
- Acciona S.A. (Alcobendas, Spain)
- AkzoNobel N.V. (Amsterdam, Netherlands)
- Applied Thin Films, Inc. (California, U.S.)
- Arkema SA (Colombes, France)
- Autonomic Materials Inc. (Illinois, U.S.)
- Avecom N.V. (Wondelgem, Belgium)
- BASF SE (Ludwigshafen, Germany)
- Covestro AG (Leverkusen, Germany)
- I. Du Pont De Nemours and Company (Delware, U.S.)
- Evonik Industries (Essen, Germany)
- Sensor Coating Systems Ltd. (London, U.K.)
- Slips Technologies, Inc. (Massachusetts, U.S.)
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Research Nester published a report titled “North America Bulletproof Security Glass Market: Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the North America bulletproof security glass market in terms of market segmentation by end user, services, material, and by geography.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The North America bulletproof security glass market is anticipated to acquire a sizeable revenue by growing at a notable CAGR during the forecast period, i.e., 2021 – 2029, owing to the growing concerns regarding the security of the people, rising military expenditure and the intensifying usage of bullet-resistant glasses in the defense sector.The market is segmented by end user, services and material.
Furthermore, the automotive segment is also assessed to garner a significant market share ascribing to high utilization of these glasses in government, embassy, VIP and VVIP vehicles.Download Sample of This Strategic Report: https://www.researchnester.com/sample-request-87Geographically, the North America bulletproof security glass market is segmented into two regions, the United States and Canada.
The market in the U.S is expected to occupy the largest share and witness noteworthy growth over the forecast period on the back of strong presence of military and intelligence agencies, and large volumes of export and production of industrial glass in the country.Rising Expenditure of Military Sector to Boost Market GrowthIn 2019, the United States has the largest military spending in the world, amounting to about $730 billion.U.S.A has one the strongest defense forces owing to which the demand for bulletproof glass is also high in this nation, making it the largest consumer of these glasses worldwide.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”Download/Request Sample Copy of Strategic Report: https://www.researchnester.com/sample-request-87However, costly installation of bulletproof glass is expected to operate as key restraint to the growth of the North America bulletproof security glass market over the forecast period.This report also provides the existing competitive scenario of some of the key players of the North America bulletproof security glass market which includes company profiling of SCHOTT AG, Corning Incorporated (NYSE: GLW), Koch Industries, Inc., Apogee Enterprises, Inc. (NASDAQ: APOG), PPG Industries, Inc. (NYSE: PPG), Total Security Solutions, RHI Magnesita GmbH (LON: RHIM), Consolidated Glass Holdings, Compagnie de Saint-Gobain (EPA: SGO), Binswanger Enterprises, LLC, and others.
On the whole, the report depicts detailed overview of the North America bulletproof security glass market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
About Research NesterResearch Nester is a leading service provider for strategic market research and consulting.
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