- Favorable use of polycaprolactone in the formulation of thermoplastic polyurethane and increasing adoption in the healthcare industry have boosted the growth of the global polycaprolactone market
PORTLAND, Oregon, April 6, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Polycaprolactone Market by Form (Pellet, Microsphere, and Nanosphere), Manufacturing Method (Ring Opening Polymerization and Polycondesation of Carboxylic Acid), and Application (Coating & Thermoplastic Polyurethane, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global polycaprolactone industry was pegged at $530.7 million in 2018, and is anticipated to garner $1.27 billion by 2026, growing at a CAGR of 11.6% from 2019 to 2026.
Chief motivators of the market growth
Favorable use of polycaprolactone in the formulation of thermoplastic polyurethane and increase in adoption in the healthcare industry have boosted the growth of the global polycaprolactone market. However, surge in adoption of polyol family chemicals hampers the market growth. On the contrary, rise in use in osteobotics is expected to create lucrative opportunities in the near future.
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Pellets segment dominated the market
By type, the pellets segment held the largest share in 2018, accounting for more than half of the total global polycaprolactone market, owing to rise in preference of polycaprolactone in the form of pellets to manufacture thermoplastic polyurethane. However, the nano sphere segment is estimated to manifest the highest CAGR of 12.4% during the forecast period, due to applications in healthcare such as tissue engineering and skin related applications. The report includes an analysis of the microsphere segment.
Healthcare sector segment to register highest CAGR through 2026
The healthcare sector segment would portray the fastest CAGR of 11.9% during the forecast period, due to rapid development in the biomedical sector because of several factors such as material compatibility, relatively inexpensive price, and suitability for modification. However, the coating & thermoplastic polyurethane (TPU) segment held the largest share in 2018, accounting for more than three-fifths of the global polycaprolactone market. This is due to its compatibility with several thermoplastic compounds and increasing popularity of plasticizer.
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Asia-Pacific, followed by Europe and North America, held the lion's share
The market across Asia-Pacific garnered the largest share in 2018, accounting for more than two-fifths of the market. This is due to factors such as the presence of huge chemical industries, developing industrializations, and adoption of advanced techniques in production. However, the global polycaprolactone market across Europe is estimated to register the highest CAGR of 12.7% during the forecast period, owing to growth in consumer base, rise in investment in sustainable materials, and increase in number of manufacturers. The market across North America held the significant market share in 2018, accounting for more than one-fifth of the market share and is projected to register a CAGR of 10.9% during the forecast period.
Major market players
- BASF SE
- Daicel Corporation
- Corbion N.V.
- Merck KGaA
- Haihang Industry Co., Ltd.
- Perstorp Holding AB
- Otto Chemie Pvt. Ltd.
- Shenzhen eSUN Industrial Co., Ltd
- Polysciences, Inc.
- Shenzhen Polymtek Biomaterial Co., Ltd.
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SOURCE Allied Market Research