The global polycaprolactone market is projected to report a healthy growth rate between 2020 and 2027, states a new report added to the repository of Report Ocean. The research report is titled as “Global Polycaprolactone Market Size study, by Form (Pellets, Nanosphere, Microsphere), by Application (Thermoplastic Polyurethane, Healthcare), by Production Method (Ring Opening Polymerization, Polycondensation of Carboxylic Acid) and Regional Forecasts 2020-2027.” The opportunity in the polycaprolactone market across the world was worth US$0.58 Bn in 2019. Expanding at a CAGR of 11.60%, the market is expected to rise exponentially during the forecast period.
Increasing Application Base of Thermoplastic Polyurethane to Boost Demand
The extensive usage of polycaprolactone in the production of thermoplastic polyurethane is the main factor that has been propelling the growth in the global polycaprolactone market. The unique characteristics of polycaprolactone, such as sturdiness, durability, and good tolerance to petrol, grease, and solvents, have been fueling its demand by manufacturers. The increasing application of thermoplastic polyurethane in major end-use industries, such as building and construction, automotive, and packaging, is likely to support this market in the years to come.
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Another factor that is driving the worldwide polycaprolactone market is the expanding application base of polycaprolactone. The healthcare industry has surfaced as the key end user of polycaprolactone, with its increasing usage in drug delivery, sutures, wound-care treatment, wound dressing tape, orthopedics, tissue engineering, and dental implants. However, the high cost of polycaprolactone and the availability of low-cost alternatives may limit the growth of this market during the forecast period. Nonetheless, the advent of new technologies, such as osteobotics, is projected to create lucrative opportunities for this market in the near future, states the report.
Europe and North America to Hold Dominant Share in Global Market
Among regional markets for polycaprolactone, North America and Europe have established them as the leading shareholders. Experts project that the scenario is likely to remain same over the next few years. These two regional markets, together, are expected to hold around 60% of the overall market during the period of the forecast.
Other than these two, Asia Pacific is anticipated to report a high growth rate in the years to come. India and China hold significant place in the global polycaprolactone market, in terms of production and consumption, both, and are expected to maintain their position over the forecast period. Latin America, on the other hand, holds dismal share in the global market and scenario is not going to change much in the coming years, reports the market study.
Impact of Covid 19 on Global Polycaprolactone Market
Among all the market spaces impacted by Covid 19 pandemic, one is the global polycaprolactone market, with the demand for polycaprolactone in TPU applications reducing significantly. The market recovery is expected to remain slow because of the ongoing pandemic. However, as the situation gets under-control and industries begin to reopen market will start getting back to its original pace.
- Based on the form, pellets are expected to attract highest demand, followed by nanosphere.
- Thermoplastic Polyurethane has emerged as the key application area of polycaprolactone and is anticipated to remain so over the next few years.
- In terms of production methods, the global polycaprolactone market is led by ring opening polymerization.
- Europe and North America, together, are projected to hold 60% of the overall market during the period of 2020-2027.
The global polycaprolactone market is classified into:
- Thermoplastic Polyurethane
By Production Method
- Ring Opening Polymerization
- Polycondensation of Carboxylic Acid
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Perstorp Holding AB
- Daicel Corp.
- Shenzhen Esun Industrial Co. Ltd.
- BASF SE
- Merck KGaA
- Polysciences Inc.
- Haihang Group
- Shenzhen Polymtek Biomaterial Co. Ltd.
- Durect Corp.
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