Polycaprolactone (PCL) is a fossil-based, semi-crystalline and biodegradable polyester. PCL is a specialty building block in high-performance polyurethane elastomer. Owing to its value-adding properties such as molecular weight distribution, hydrophobicity and low viscosity, polycaprolactone and its copolymers such as polycaprolactonediol, polycaprolactonetriol, and polycaprolactonetetral has found wide application in the production of polyurethane (PU), thermoplastic polyurethane (TPU) and polyols. It is one of the most widely preferred biodegradable polymers due to its high flexibility and biodegradability as well as hydrophobic nature. It is widely used in the manufacture of drug delivery devices and other medical components such as suture, wound dressing tapes, dental appliance etc. End-user industries of PCL includes automotive, leather, paints & coating, medical devices manufacturer, packaging etc.
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Revenue from the global polycaprolactone market is expected to expand at a CAGR of 11.1% over the forecast period, to reach the market value of US$ 214.2 Mn by an end of 2021.
Demand for polycaprolactone is influenced by a number of factors, including increased investments in manufacturing of medical devices in developed and developing economies. Growing demand for polyurethane in developing economies is a major factor driving the growth of the global market. Product and technology innovations focused on eco-friendly and cost-efficient solutions is another factor expected to fuel the growth of the market over the forecast period. A major trend observed in the market is FDA approval of PCL in medical applications, which leads to the adoption of PCL in the manufacturing of a variety of medical devices and components, and industry preference for low VOC (Volatile Organic Compound) coatings due to stringent environmental regulations limiting VOC emissions.
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Persistence Market Research, in its report titled “Polycaprolactone Market: Global Industry Analysis and Forecast, 2015–2021”, has segmented the global polycaprolactone market into form type, application, and regions. On the basis of form type, the market is segmented into pellets, nano sphere, and microsphere. On the basis of applications, the market is segmented into the thermoplastic polyurethane (TPU), healthcare, and others, including 3D printing and hobbyist market. On the basis of healthcare application, the market is segmented into drug delivery and wound care management. Wound care management is further segmented into the suture, wound dressing tapes, tissue engineering, orthopaedic, and dental implant. On the basis of geographic regions, the polycaprolactone market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Amongst the aforementioned region-based segments in the global polycaprolactone market, Asia Pacific polycaprolactone market is expected to expand at an accelerated CAGR of 12.0% in terms of volume during the forecast period. The market in the region is estimated to account for a share of around 29.5% of the global polycaprolactone market volume by 2015. In terms of volume, Europe is expected to depict steady growth during the forecast period. It has been estimated to account for a value share of 38.1% by the end of 2015. Latin America and the Middle East & Africa polycaprolactone markets are expected to expand at a slow CAGR of 9.5% and 10.0% respectively in terms of value over the forecast period.
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