The significant demand for polycaprolactone in the production of thermoplastic polyurethane (TPU), which finds extensive applications in various end-use industries such as automotive, construction, and painting is fuelling the polycaprolactone market. Polycaprolactone is preferred over other biodegradable polymers due to a slew of attributes over other biodegradable polymers. High resistance to grease and oil, high resistance to elasticity, and high abrasion resistance are key attributes of polycaprolactone that make them preferred among manufacturers of TPU globally. This benefits the polycaprolactone market.
The polycaprolactone market is estimated to expand at a CAGR of 9.5% for the forecast period from 2017 – 2026.
The demand for polycaprolactone is anticipated to grow from the construction sector. The growing emphasis to maintain noise levels from commercial buildings is leading to increasing use of rigid polyurethane foams. Polyurethane foams feature effective insulation that are suitable in the construction of walls, roofs, doors, and windows to maintain noise level.
The increasing demand for polyurethane foams in the production of air barrier sealants for various areas of buildings with stimulate the demand for polycaprolactone.
Slew of Attractive Physical Properties Stir Demand from Construction Sector, Packaging Sector to Remain Significant End-use Segment
The increasing use of polyurethane foams is related to environment conservation goals as well. The use of polyurethane during the construction of buildings is related to reduce use of energy and conservation of natural resources. Thus, the growing need for improved durability, versatility, insulation properties, and strength-to-weight ratio for various areas of buildings is influencing the demand for polycaprolactone.
Furthermore, the use of polycaprolactone allows design flexibility during the construction of new buildings and remodeling of existing properties. This collectively stimulates the polycaprolactone market.
The electronics sector is increasingly displaying demand for polyurethane primarily to seal and encapsulate pressure-sensitive microelectronic components. With the increasing need for electronic components to withstand extreme temperature, the demand for polyurethane produced using polycaprolactone surges.
The packaging industry is another key end-use industry of polyurethane. Polyurethane is used in packaging casing for the transportation of valuable industrial components, medical diagnostic equipment, electronics, and glassware in a safe and protective manner. This stimulates the polycaprolactone market.
The competitive landscape of the polycaprolactone market is fragmented with the presence of several small and large vendors. Keen players in the polycaprolactone market are striving to deliver high-quality products to end-use industries to gain a competitive advantage. M& As, joint ventures, and word-of-mouth marketing are some other growth strategies that companies in the polycaprolactone market are engaged in.
Some of the key players operating in the polycaprolactone market are Haihang Industries Co. Ltd., Polysciences Inc., Polymtek Biomaterial Inc., Durect Corporation, and Shenzen Esum among others.
Pellet Product form to Garner Handsome Revenue; High Volume Demand from China and India make Asia Pacific Key Region
Polycaprolactone is available in a few forms to serve various end-use industries. The pellet segment accounts for leading revenue in the polycaprolactone market. The pellet segment is estimated to account for more than US$ 40 Mn revenue contribution to the polycaprolactone market by 2017.
The nanosphere form segment is estimated to display leading CAGR over the 2017 – 2026 forecast period. Increasing demand for nanosphere form of polycaprolactone from the healthcare industry and other end-use industries is attributed to the leading growth rate of this segment.
Asia Pacific is anticipated to emerge as a key region in the polycaprolactone market in the future. Rapid industrialization and economic growth in China and India that heavily depend on polyurethane for intermediate and main cycle production processes influences the demand for polycaprolactone in the region.
North America and Europe are anticipated to stay leading regions in the polycaprolactone market over the forecast period.
The global polycaprolactone market is segmented as follows:
- Thermoplastic Polyurethane (TPU)
- Drug Delivery
- Wound Dressing
- Tissue Engineering
- Dental Implant
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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