enable speedy expansion of the market, states Fortune Business Insights, in a report, The growing use of elastomers and polymers is expected to foster the healthy growth of the market.

The whole world is battling with the novel coronavirus, leaving numerous industries in distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain

Information source: https://www.fortunebusinessinsights.com/self-healing-materials-market-102947

Market Driver:

Expansion of BASF’s Chemical Industry to Promote Growth

The growing focus of companies towards expanding their production capacity can create opportunities for the market. For instance, in September 2019, BASF, a major in the chemical industry announced that it will increase the production of ethylene oxide and ethylene oxide derivativesat its Verbund site in Antwerp, Belgium.

Self-healing materials are chemically produced substances that have the characteristics of self-healing without any external force. The growing focus of OEMs towards healers as an external cover to cars is expected to enable the growth of the market. Besides, the reduction of repairs by the use of healers can spur its demand in the automotive industry, thus aiding the growth of the market.

Nevertheless, the high cost of healers combined with the availability of a variety of alternatives is expected to restrict the growth of the market.