Polycaprolactone Market anticipated to witness significant growth by 2024
Date: 2019-02-07   Author: Ronak Bora  Category: #market

Polycaprolactone Market anticipated to witness significant growth by 2024

North America polycaprolactone market is anticipated to grow at faster pace owing to high demand from surgical equipment, biodegradable products and supplies. Increase product usage in modeling, splinting and as feedstock for prototyping systems will drive the product demand in the coming years. Asia pacific is the major market owing to China emerging as key manufacturer of the polycaprolactone material for adhesive and plastic industries. Growing consumption of the PCL for manufacturing surgical equipment and melting plastic industries from China, Japan and India will drive regional industry demand.

Hydrophobicity, molecular weight distribution, and low viscosity are among the major properties driving Polycaprolactone (PCL) Market growth. Increased application of polycaprolactone and its copolymers in the production of thermoplastic polyurethane (TPU), polyurethane (PU) and polyols will drive the industry demand. Coatings, adhesive, sealants and elastomers supporting are major applications fueling industry growth.

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Enhanced application in controlled drug release and long-term implants will drive the market growth. Approval from the FDA for use of polycaprolactone in applications such as sutures and drug delivery will open new opportunities for industry expansion. Increased demand of polyurethane from healthcare industry will drive the product demand. Lowering of cost and increased biodegradability provided by starch and other organic fillers when mixed with PCL will positively fuel product demand in healthcare sector. 

Growing need for noise barriers in the highways and commercial industry will fuel the industry demand. Increasing demand for insulation of the boats from noise and extreme temperature will augment demand of polyurethane, that in turn is projected to impact global industry growth. Enhanced durability, insulation features, versatility and strength-to-weight ratios is further likely to propel product demand. Presence of substitutes at low costs and instability of raw material costs are likely to impact polycaprolactone market price trend.

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Growing demand for polycaprolactone to seal and encapsulate pressure sensitive microelectronic components will stimulate the product penetration. However, slow degradation rate, low cell adhesion, and poor mechanical properties in tissue engineering may restrain the industry growth. Product as well as technology innovations focusing on environment-friendly and cost-effective solutions is another major factor anticipated to fuel industry growth. Tear and abrasion resistance offered by rigid polyurethane foams produced from PCL make it a preferable form of insulator driving the industry growth. 

On the basis of type, market is segmented as Pellets, Nanosphere and Microsphere. Pellets are expected to witness substantial growth in the forecast period. Upsurge in production of filament, plastics and 3D printer extruder will endure polycaprolactone pellets demand. Increased use of PCL microspheres for drugs encapsulation to obtain the desired release characteristics will drive the demand of microsphere. Nanospheres are colloidal drug delivery systems for drugs or other active molecules, with size ranging between 10 and 1000 nm. Increased demand of nanospheres for selective targeting through reticuloendothelial system to liver and cells will propel the segment demand. 

Based on application, the healthcare segment is expected to expand at the fastest CAGR during the forecast period. Growth of the segment is mainly driven by augmented adoption of polycaprolactone in manufacturing of drug delivery devices. Increasing demand of polyurethane derived from polycaprolactone owing to rising need for wound dressing, hospital bedding, injection-molded devices, general purpose tubing and surgical drapes will stimulate the market growth. Growing demand from dentistry application including dental splints and root canal filling will enhance segment growth.

Global major industry players include Perstorp, Daicel, Esun, BASF SE, Durect Corporation, Sigma-Aldrich Corporation, Shenzhen Esun Industries and Corbion Purac. Polycaprolactone market share is moderately consolidated in the emerged regions such as North America owing to strong government support for developing and innovating biodegradable polymers for sustainable lifestyle. On contrary, in the developing regions the market is highly fragmented with dominance of various small companies specifically from Asia Pacific.

 

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About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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