Research Report Insights published market report titled ‘PolycaprolactoneMarket: Global Industry Analysis, Size, Sales and Forecast By 2026’, examines the polycaprolactonemarket and offers crucial market insights for the next tenyears. According to the report, the thermoplastic polyurethanesegment of the polycaprolactone market is expected to dominate the market with around a 45 % share of the overall market value by 2028 end,registering a CAGR of 10.4% during the forecast period 2018–2028. The estimated value of the global polycaprolactonemarket in 2018 is expected to be US$ 301,339 Mn and the market is projected to reach US$ 670,682.4Mn by the end of 2028.
Growing demand for health care in emerging economies will create opportunities for the global polycaprolactpone market throughout the forecast period. Further, the increasing consumption of polycaprolactone can be attributed to the growth in the production of thermoplastic polyurethane. Swelling adhesives, sealants and paint & coating applications demand high-performance polyurethane elastomers. The demand for polycaprolactone is expected to increase with its increasing consumption in healthcare applications such as drug delivery, tissue engineering, orthopedic, sutures, wound healing products and dental implants.
Manufacturers have been developing products that meet a diverse & demanding set of requirements and non-biodegradable plastic can replace biodegradable plastic in various applications, which increases the renewable content by up to 100%. That apart, the advanced properties of these products, coupled with the demand for greener products, have been leading to the preferred use of polycaprolactone on a globe level.
Moreover, the 3D printer manufactures opens up design avenues and enables the economic production of lighter components critical to healthcare, aerospace and automotive industries. Some emerging and near-term future uses of polycaprolactone in 3-D printing include the development of custom orthopedic implants and prosthetics, production of spare parts and components for automobile industries, etc. This has been proving to be an important driver to global polycaprolactone market, especially in developed economies.
Market insights suggest that the global polycaprolactonemarket is dominated by thethermoplastic polyurethanesegment and will expand with a healthy CAGR over the forecast period.The rising adoption of biodegradable plastic in medical applications is one of the major factors fueling the demand for polycaprolactoneand consequently, contributing to the market growth. Demand for environment-friendly raw materials and the superior properties of polycaprolactone will spurge the growth of the global polycaprolactone market over the forecast period. In recent years, research has been focused on enhancing the mechanical properties of polycaprolactone and reducing its biodegradation time.These mechanical properties of polycaprolactone will spurge the demand of market.
Regional market projection
On the basis of region,Chinais estimatedto dominate the global polycaprolactonemarket throughout the forecast period. The region’s polycaprolactonemarket is expected to expand at a healthy CAGR during the forecast period. South East Asia & Pacificis estimated to register arelativelyhigher CAGRfollowed by China during the forecast period. Moreover, increased demand from developed economies such asNorth America, isexpected to register attractive growth ratesin the global polycaprolactonemarket during the forecast period.Latin America is expected to witness weak growth as compared to the rest of the regions, owing to the lowdemand for polymers across end-use sectors and weak transport activities.
Laws that ban the use of non-biodegradable polyester in various countries such as Mexico, EU countries, Non-EU countries and others to promote the replacement of conventional polymerswith biodegradable polyester are expected to surge the demand for polycaprolactone on a globe level.
Global Polycaprolactone Market Competitive Landscape
Some of the players reported in this study on the global polycaprolactonemarket 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.