New York City, NY -- (SBWIRE) -- 01/20/2017 -- According to a recent market report published by Persistence Market Research titled "Global Market Study on Polycaprolactone: Demand for Environment-Friendly Packaging Materials, Catalyzed the Polycaprolactone Market ", the global polycaprolactone market has been estimated to reach value of US$ 113.9 Mn by end of 2015, and is expected to expand at a CAGR of 11.1% between 2015 and 2021.
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Polycaprolactone is a specialty building block in high-performance polyurethane elastomer. Owing to its value-added 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. Polycaprolactone-based polyurethanes are widely used in coatings, adhesive, sealants and elastomers. Due to its high permeability, PCL can form compatible blends with other bio-based polymers, which can improve the degradation kinetics, stress & crack resistance, dyeability, and control over the release rate of drugs. Hence, it is used for manufacturing of medical devices and components. PCL is generally blended with PGA or PLA. However, different blends of PCL result in different serviceability and properties of the blended material.
Growing demand for environment-friendly packaging materials leads to the development of a number of new biopolymers that have shown the ability to degrade naturally in the environment. PCL has the ability to blend with natural polymers, and its blend is commercially used for manufacturing of plastic films and bags. This is expected to emerge as a factor driving the growth of the polycaprolactone market during the forecast period. Continuous research for application of PCL in the biomedical sector, focused on eco-friendly and cost efficient solutions and increasing consumption of polyurethane in developing economies, are other factors expected to fuel the growth of the market over the forecast period. However, availability of substitutes at cheaper costs and volatility of raw material costs are likely to impede the growth of the global polycaprolactone market during the forecast period. Global polycaprolactone consumption is expected to increase from 58,151.8 metric tons over 2015 to 105,122.6 metric tons by 2021, expanding at a CAGR of 10.4% during the forecast period.
In terms of market value, Europe is expected to dominate the global polycaprolactone market over the forecast period, with Asia Pacific being the second largest market, accounting for revenue share of 28.6% of the global estimated market value by 2015 end. Europe polycaprolactone market is slated to expand at the highest CAGR of around 10.5% in terms of value between 2015 and 2021.
On the basis of application, the healthcare segment is expected to expand at the fastest CAGR in terms of value during the forecast period. Growth of this segment is primarily driven by increased adoption of polycaprolactone in manufacturing of drug delivery devices. Drug delivery and wound care management segments are expected to witness growth of 11.1% and 11.4% in terms of consumption during the forecast period. On the basis of form type, revenue from pellets segment is expected expand at a CAGR of 11.0% during the forecast period.
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Perstorp Holding A.B., BASF SE, and Diacel Corporation are the leading players in the global polycaprolactone market. Other players include Durect Corporation, Corbion Purac, Sigma-Aldrich Corporation, and Shenzhen Esun Industries Co. Ltd.
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