Grand View Research has published their new research report on Self-healing materials that includes current market dynamics, trends analysis and forecast for the 2025 period.
Self-healing technology can be described as ability of any material to repair itself without any external interference and this market is expected to reach about USD 4.13 Billion while expanding at CAGR of 46.1% by 2025. The market is divided into different categories based on their material type which includes concrete, metal, ceramic, polymers, coatings, fiber-reinforced composites and asphalt.
Self-healing materials are widely used in medical sector to ease the sterilization process after equipment use and they’re also used in decorative paintings and coatings during the building & construction segment.
Biggest growth is expected to come from the automotive sector in the forecasted period as companies like Ford Motors and Lamborghini have R&D initiatives placed to make the vehicles self-healing in the future.
The biggest contributor in revenue is the self-healing materials market is North American region with Asia pacific poised for fast paced growth by 2025 followed closely by Europe, Central & South America and Middle East.
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