Polycaprolactone Market Size Overview
The global Polycaprolactone Market
Size is expected to witness significant growth during the forecast period owing
to its extensive use in the production of thermoplastic polyurethane. Likewise,
thermoplastic polyurethane is widely used in end-use industries such as
construction, automotive, packaging, and electronics, and the growth of these
industries across the globe is as a result expected to boost the demand for
polycaprolactone and growth of the global market during the forecast period.
Competitive Analysis
Some of the prominent players operating
in the global Polycaprolactone Market Size
are Perstorp Holding AB (Sweden), Daicel Corporation (Japan), Shenzhen Esun
Industrial Co., Ltd (China), Corbion (the Netherlands), BASF SE (Germany),
Merck KGaA (Germany), Polysciences, Inc. (US), Haihang Group (China), Shenzhen
Polymtek Biomaterial Co., Ltd (China), and Durect Corporation (US).
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Market Segmentation
The global Polycaprolactone Market
Size has been segmented based on form, production method, application, and
region.
By form, the global market is
segmented into pellets, nanosphere, and microsphere. Among these, the pellets
are expected to be the leading segment in the global market as it becomes
transparent and pliable as silly putty, after melting at nearly 140°C.
Additionally, it can be shaped, re-melted, and reformed as well as can be cut,
drilled, and filled after hardening. The pellets produced from polycaprolactone
are extensively used in manufacturing of drug delivery systems as the pellets
offer advantages such as enhancement of drug dissolution, ease of coating with
desirable release characteristics—e.g., sustained, controlled, delayed,
site-specific or pulsatile delivery of drug from coated pellets, uniform
packing—and ease of capsule filling because of better flow properties due to
its spherical shape.
On the basis of production method,
the global market is divided into ring opening polymerization and polycondensation
of carboxylic acid. The ring opening polymerization method is generally used in
the production of polycaprolactone due to its ease of scale up, acceptable
purity, and cost considerations. This process helps to produce polymers with
the same or lower density than monomers.
Based on application, the global
market has been segmented into thermoplastic polyurethane, healthcare, and
others. The thermoplastic polyurethane segment dominated the market in 2018
owing to the high demand from major end-use industries such as construction,
automotive, packaging, and electronics. The healthcare segment is expected to
grow at a faster rate on account of high use of polycaprolactone in drug
delivery system, suture, wound care & medical devices, dental and orthopedic
implants, and others.
Regional Analysis
The global market has been segmented
into five regions, namely Asia-Pacific, North America, Europe, Latin America,
and the Middle East & Africa.
The Asia-Pacific market accounted for
major market share in 2018, owing to the high demand for thermoplastic
polyurethane in the construction, automotive, electronics, and packaging
industries. The growth of the construction industry in the emerging economies
such as India, Thailand, Malaysia, and South Korea is expected to fuel the
demand for polycaprolactone for production of thermoplastic polyurethane. The
increasing production and sale of automobiles is also expected to fuel the
demand for the product in the region.
The North American market is
projected to witness significant demand for the product due to increasing use
of 3D printing for applications such as prosthetics and advanced prototyping in
the healthcare industry. The growth of the European market is primarily driven
by the high production and sale of automotive parts in the UK, France, and
Russia. This drives the demand for thermoplastic polyurthane, which is expected
to propel the demand for polycaprolactone during the review period.
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