Persistence Market Research has released a new research report pertaining to the global industries of chemicals and materials. The report, titled “Global Market Study on Polycaprolactone: Demand for Environment-Friendly Packaging Materials, Catalyzed the Polycaprolactone Market,” provides key insights into this market while creating a forecast presentation that will tell the user precisely how the global polycaprolactone market will fare in the near future.
According to the report, the global polycaprolactone market is exhibiting a CAGR of 11.10% within a forecast period from 2015 to 2021. The market was recorded at US$113.9 mn in 2015 and is expected to reach US$214.2 mn by the end of 2021.
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Polycaprolactone is a highly permeable chemical, which makes it compatible with many other chemicals and plastics. It can be used to create blends with other biobased polymers in order to mitigate their negative qualities. Polycaprolactone can improve many qualities of biobased polymers, such as dye-ability, crack resistance, stress handling, and degradation rates. Most importantly, polycaprolactone can help create better medical devices that provide superior control over drug release rates, in comparison to traditional materials.
The primary driver of the global polycaprolactone market is the inherent advantages that using polycaprolactone can provide to polyurethane. It can impart several valuable properties such as an even distribution of molecular weight, lower viscosity for easier handling, and a high aversion to water.
Some of the more commonly used copolymers of polycaprolactone are polycaprolactonetetral, polycaprolactonediol, and polycaprolactonetriol. These copolymers are extensively used with the application-based products of polyurethane, namely thermoplastic, thermosetting, and polyols. The combination is then used in the production of elastomers, sealants, adhesives, and coatings.
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On the basis of application, the global polycaprolactone market is expected to be propelled by the healthcare segment. Polyurethane enriched with polycaprolactone is highly sought after for the manufacture of medical devices, due to the beneficial nature of these polymers. The large number of medical device manufacturers that are demanding polycaprolactone is advantageous to its global market. Additionally, with the healthcare segment expected to show the fastest CAGR among all application segments, the report expects a major piece of the market’s revenue to be derived from this segment.
The report’s geographical analysis reveals Europe to lead the global polycaprolactone market within the given forecast period. Asia Pacific is expected to become the second largest market for polycaprolactone in the same timeframe. In 2015, Asia Pacific generated 28.60% of the total revenue of the global polycaprolactone market. Europe, on the other hand, has been exhibiting a consistently high CAGR, which is expected to keep this region in the leading position till 2021.
The key players in the global polycaprolactone market are BASF SE, Durect Corporation, Sigma-Aldrich Corporation, Perstorp Holding A.B., Haihang Industries Co. Ltd., Corbion Purec, and Shenzhen Esun Industries Co. Ltd.
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