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WASHINGTON, April 28, 2023 (GLOBE NEWSWIRE) — The Global Self-Healing Materials Market is valued at USD 1.4 Billion in 2022 and is projected to reach a value of USD 6.75 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 25.2% over the forecast period 2023-2030.
This is because of its many useful qualities, including high strength, little shrinkage and creep, longevity, and cost-effectiveness. The increased use of these products in the industry sector, especially automotive and aerospace, is the main driver of the expansion in self-healing material. Several businesses use these coatings, including those that manufacture gear, the automotive, oil and gas, marine, aeronautical, and consumer products sectors.
We forecast that the building and construction in self-healing materials market sales will account for more than 45% of total sales by 2030 due to the expansion of construction activities in China and India. Increasing socio-political pressure to construct cutting-edge structures and structures in developing nations in the Asia Pacific and Latin America is anticipated to accelerate the construction sector’s growth.
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Increase in Automotive & Transportation Sector will Increase to Support Market Expansion
The automotive and transportation industries have seen an increased demand for self-healing materials. Self-healing materials have been promoted to be used in electronic products such as mobile phones, laptops, and desktop computers by electronics conglomerates like Samsung and Apple, which is anticipated to increase consumption. When a car is cut or punctured, an exterior coating used by automotive OEMs activates a curing process. By repairing scratches mechanically, this coating lowers the need for regular servicing. This is expected to increase demand for innovative products in the ensuing years, creating attractive market prospects.
Increased Demand for Self-Healing Polymers in the Self-Healing Materials Industry Drives Market Growth
Self-healing polymer materials contribute to the lengthening of a product’s life cycle while improving the functionality of numerous items. The polymer replicates organic healing and heals itself when it sustains an injury, requiring no assistance from outside sources for either detection or repair. In the construction sector, it gives concrete strength and extends the life of structures like bridges, while in the electronics sector, it protects displays and panels from scratches.
Top Players in the Global Self-Healing Materials Market
- The Dow Chemical Company (U.S.)
- Covestro AG (Germany)
- High Impact Technology LLC (U.S.)
- Huntsman International LLC (U.S.)
- Michelin Group (France)
- McDermid Autotype Ltd (UK)
- Akzo Nobel N.V (Netherlands)
- Evonik Industries Corporation (Germany)
- BASF SE (Germany)
Top Trends in the Global Self-Healing Materials Market
- One trend that Vantage Market Research (VMR) expects to see in the self-healing materials industry is the growing construction industry. The market for self-healing materials is estimated to benefit significantly from expanding the worldwide construction sector. Materials that can heal spontaneously without assistance from a third party are called self-healing materials. By lowering maintenance expenses and extending the lifespan of structures and infrastructure, these materials have the potential to transform the construction sector completely.
- Another trend that VMR predicts will continue in the self-healing materials industry is its increasing trend of reversible polymers and elastomers. Reversible polymers and elastomers technology are growing due to growing demands from the medical and healthcare sectors brought on by expanding the range of applications.
Top Report Findings
- Based on the Product, the concrete category controls most of the self-healing materials market’s revenue. This is linked to the rising demand in the construction sector for self-healing concrete, which can increase the strength and longevity of structures while lowering the frequency of servicing and repairs. Concrete capable of self-healing produces toxins, minerals, or other compounds that can seal gaps in the concrete, preventing water and other damaging elements from getting inside and inflicting more harm. By requiring fewer repairs and replacements, self-healing concrete can also help the construction industry minimize its carbon footprint.
- Based on Technology, the reversible polymers category controls most of the self-healing materials market’s revenue. Reversible polymers are becoming more common due to the expanding range of applications and increased demand from the medical infrastructure industry.
- Based on Application, most of the self-healing materials market’s revenue is controlled by the building & construction category. One of the biggest materials consumers is the building & construction industry, and as the world’s population rises, there will be an increase in demand for construction materials. There is an increasing demand for high-quality, long-lasting building materials that can endure the hardships and stresses of daily use as urbanization and public investment increase. When they become damaged, these materials may mend themselves, reducing the need for repairs and replacement and saving time and money.
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Recent Developments in the Global Self-Healing Materials Market
- In March 2021, advanced composite self-healing technology was introduced by Comp Pair Technologies Ltd., a corporation headquartered in Switzerland.
- In March 2020, the Goodyear Tire & Rubber Corporation unveiled their newest concept tire, dubbed Recharge. The tire can effectively assess its wear level and correct flaws using a liquid mixture of synthetic rubber enhanced with new fibres.
Reversible Polymers Category of the Technology Segment of the Self-Healing Materials Market Forecast to Generate a Considerable Amount of the Segment Revenue
For better understanding, based on the Technology, the Self-Healing Materials market is divided into Reversible Polymers, Microencapsulation, Shape Memory Materials, Biological Material System and Other Technologies.
The Reversible Polymers market was the largest market by Technology, and it is anticipated that it will continue to hold the top spot during the projected period. One of the primary causes pushing the use of self-healing materials in the construction and building industry is their rise in the non-residential construction sector because of their long-lasting qualities and high strength. The demand for self-healing materials in the construction and building sector is also fuelled by growing governmental and private expenditure in construction activities, particularly in emerging regions.
On the other hand, the Microencapsulation category is anticipated to grow significantly. The market for microencapsulated ingredients is expanding due to potential uses in the home services and medical sectors, increasing costs for medicinal and nutritional products, increasing demand for bioactive ingredients, rapid growth in the personal care sector, and rising research money for perpetual system performance.
Europe Region of the Global Self-Healing Materials Market Anticipated to Generate More a Good Proportion of the Global Revenue
The Europe region is anticipated to do so in the coming years. Developing novel, cutting-edge artificial organs and devices can use self-healing materials, which have enormous potential in the medical field. Self-healing polyesters, for instance, can be used to make implantable gadgets that can mend themselves if they get damaged, lowering the need for invasive procedures and improving patient outcomes. The potential of self-healing materials in the medical field can also be increased by using them in applications such as drug delivery systems and wound healing. Each of these self-healing materials factors positively impacts real economic growth.
The Asia Pacific region is expected to grow the fastest in the Self-Healing Materials market. The well-established North American building industry’s need for self-healing materials is rising. Self-healing concrete is gaining popularity in this area since it may lengthen the durability and longevity of buildings, lowering the frequency of repairs and maintenance. Self-healing materials are in increasing demand in the building business and other industries, including aerospace, automotive, and electronics. For instance, self-healing coatings and polymers can shield surfaces from harm and increase the lifespan of various goods and components.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Self-Healing Materials Market Forecast Report (2023-2030).
Global Self-Healing Materials Market Segmentation
- Fibber-reinforced Composites
- Reversible Polymers
- Shape Memory Materials
- Biological Material Systems
- Other Technologies
- Energy Generation
- Building & Construction
- Automotive & Transportation
- Electronics & Semiconductors
- Medical (Implants & Devices)
- Other Applications
- North America
- United States
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
|Market Size in 2022||USD 1.4 Billion|
|Revenue Forecast by 2030||USD 6.75 Billion|
|CAGR||25.2% from 2023 to 2030|
|Forecast Year||2023 to 2030|
|Key Players||The Dow Chemical Company, Covestro AG, High Impact Technology LLC, Huntsman International LLC, Michelin Group, McDermid Autotype Ltd., Akzo Nobel N.V., Evonik Industries Corporation, BASF SE|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/selfhealing-materials-market-2100/request-sample|
Key Questions Answered in the Self-Healing Materials Market Report are:
- What are self-healing materials, and how do they work?
- What are the different types of self-healing materials, and what are their advantages and limitations?
- What are the major applications of self-healing materials, and what are the key industries that use them?
- What is the size of the global self-healing materials market, and what is its growth potential in the coming years?
- What are the key drivers and challenges for the growth of the self-healing materials market?
- Who are the major players in the self-healing materials market, and what are their strategies for growth and innovation?
- What are the emerging trends in the self-healing materials market, and how are they likely to shape the industry in the future?
- What are the regulatory and environmental factors affecting the self-healing materials market, and how are companies responding to them?
- What are the key regions and countries driving the growth of the self-healing materials market, and what are the factors contributing to their success?
- What are the future opportunities and challenges for the self-healing materials market, and how can companies position themselves for success?
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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Savory & Partners: Digital Nomad Visas Sparking a Migration Boom
DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.
A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit www.savoryandpartners.com.
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research
The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Range, End User, Distribution Channel, and Region
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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