According to the report published by Allied Market Research, the global Polycaprolactone Industry garnered $530.7 million in 2018, and is expected to generate $1.27 billion by 2026, witnessing at a CAGR of 11.6% from 2019 to 2026. The report provides a comprehensive analysis of changing market trends, key market players, major segments, market size & estimations, and competitive scenario.
Utilization of polycaprolactone for formulating thermoplastic polyurethane and rise in adoption in the healthcare sector propel the growth of the global Polycaprolactone Industry. However, increase in implementation of polyol family chemicals restrains the market growth. On the other hand, rise in implementation of osteobotics is expected to offer new opportunities in the coming years.
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Based on type, the pellets segment accounted for the highest share in 2018, holding more than half of the global Polycaprolactone Industry share, and is estimated to maintain its lead status during the forecast period. This is due to surge in preference for polycaprolactone in the form of pellets for producing thermoplastic polyurethane. Contrarily, the nano sphere segment is expected to maintain the largest CAGR of 12.4% from 2019 to 2026.
Based on application, the healthcare sector segment is expected to maintain the highest CAGR of 11.9% during the forecast period. This is attributed to rapid developments in the biomedical sector due to factors including relatively inexpensive price, material compatibility, and suitability for modification. However, the coating & thermoplastic polyurethane (TPU) segment held the highest share in 2018, contributing to more than three-fifths of the total market share. This is attributed to its compatibility with different thermoplastic compounds and rise in prominence of plasticizers.
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Based on region, Asia-Pacific, followed by Europe and North America, generated the highest market share in 2018, holding more than two-fifths of the market share. This is due to factors including presence of enormous chemical industries, rapid industrialization, and implementation of advanced techniques for manufacturing. However, Europe is expected to witness the largest CAGR of 12.7% from 2019 to 2026, owing to increase in consumer base and surge in investments in sustainable materials.
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Leading market players analyzed in the research are 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., and Shenzhen Polymtek Biomaterial Co., Ltd.