Polycaprolactone Market to Expand 2.5X by 2030; Reduced Demand for TPU Applications Due to COVID-19 Outbreak Denting Market Growth
Published On : Aug 26, 2020
Polycaprolactone is a specialty building block in high-performance polyurethane elastomer. Owing to its value-added properties such as molecular weight distribution, hydrophobicity, and low viscosity, polycaprolactone and its copolymers such as polycaprolactonediol, polycaprolactonetriol, and polycaprolactonetetral have found wide application in the production of polyurethane (PU), thermoplastic polyurethane (TPU), and polyols. Polycaprolactone-based polyurethanes are widely used in coatings, adhesives, sealants, and elastomers. Due to its high permeability, PCL can form compatible blends with other bio-based polymers, which can improve the degradation kinetics, stress & crack resistance, dyeability, and control over the release rate of drugs. Hence, it is used for manufacturing various medical devices and components.
The global polycaprolactone market is projected to expand at an impressive CAGR of 10% over the next decade, to be valued 2.5X its current side by 2030.
Key Findings from Polycaprolactone Market Study
- On the basis of form, the polycaprolactone market is expected to be dominated by the pellets form, and will be followed by the nanosphere form. The nanosphere segment is expected to grow at a noteworthy CAGR over the forecast period, owing to the utilization of nanosphere polycaprolactone in healthcare applications.
- On the basis of manufacturing process, the ring opening polymerization segment is projected to witness robust growth in the global polycaprolactone market. The segment will remain dominant in terms of value share and is expected to be responsible for 93% of the global incremental $ opportunity.
- In terms of application, thermoplastic polyurethane is projected to hold a dominant share in terms of both, value and volume. Increasing demand for biodegradable polymers for numerous applications such as drug delivery and wound care management is expected to create numerous growth opportunities for polycaprolactone manufacturers.
- In the global marketplace, in terms of consumption, Europe represents the largest market worldwide, followed by the United States.
“Reduced demand from end-use industries will hurt the growth of the polycaprolactone market in the near term,” says a PMR analyst.
Polycaprolactone Market: Key Players
Some of the key players reported in this study on the global polycaprolactone market are Perstorp Holding A. B., BASF SE, Diacel Corporation, Sigma-Aldrich Corporation (Merck), Directs Corporation, Corbion Purac, Shenzen Esun Industrial Co. Ltd., Haihang Industries Co., Ltd., Polysciences, Inc., and Shenzhen Polymtek Biomaterial Co. Ltd.
Want to Know More?
Persistence Market Research has published a market research report on the polycaprolactone market that contains global industry analysis of 2015–2019 and forecasts for the period of 2020–2030. The report provides insightful analysis of the polycaprolactone market through different segments, namely, form, production method, and application, across seven major regions of the world. The polycaprolactone market report also provides supply and demand trends, an import-export scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the value chain.
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