Polycaprolactone Market To Reach To US$ 300 Mn by 2026
Transparency Market Research has recently published a new report that talks about the global polycaprolactone market. According to the TMR report, the polycaprolactone market was initially valued at US$40 mn in 2016. The research report expects the global market to exhibit a CAGR of 9.5% over the course of the given forecast period of 2017 to 2026. With this high rate of growth, the polycaprolactone market will reach an overall valuation of US$300 mn by the end of 2026.
The global polycaprolactone market has few local and global players. The market has a fragmented vendor landscape. Some leading companies have equal market share and are striving to gain a competitive advantage over their rivals. Leading players in the polycaprolactone market are trying deliver high quality products to their end-users. Also, the companies are adopting aggressive marketing strategies such as mergers, acquisitions, and joint ventures to stay ahead of the curve.
Some of the key players in the global polycaprolactone market include names such as Haihang Industries Co. Ltd., Durect Corporation, Polysciences Inc., Shenzen Esun, and Polymtek Biomaterial Inc., among others.
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Depending on the type of form, the global polycaprolactone market is estimated to be led by the segment of pellet form followed by nano sphere form. The segment of nano sphere form is projected to have high rate of growth in the near future. This high growth of the segment is because of the increasing utilization of nano sphere polycaprolactone in the healthcare industry. The growing applications of the segment in other end use industries are also driving its growth.
From a geographical point of view, the glow polycaprolactone market is divided into five key regions viz. Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. The polycaprolactone market is led by North America and Europe over the course of the given forecast period of 2017 to 2026. These two regions are expected to gain maximum share in the market. On the other hand, the Asia Pacific region is expected to experience high potential for development in the near future due to the presence of emerging economies such as China and India. These emerging economies have high demands in terms of both production and consumption. Furthermore, Latin America and the Middle East and Africa are projected to witness steady growth over the course of the forecast period.
Increasing Demand for Thermoplastic Polyurethane to Drive Market Growth
The growth of the global polycaprolactone mainly driven due to the increasing need for thermoplastic polyurethane. As the applications of thermoplastic polyurethane increase across sectors such as automotive, healthcare, packaging, and construction among others, it will naturally help in the development of the global polycaprolactone market. Additionally, high abrasion and high elasticity are projected to substantially boost the sales of polycaprolactone among the manufacturers of thermoplastic polyurethane. Furthermore, polycaprolactone offers high degree resistance to grease and oil due to which this polymer is preferred more over other biodegradable polymers.
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Low Degradation Speed to Hamper Market Development
However, there are some factors that are likely to pose a challenge to the growth of the global polycaprolactone market. One key restraining factor for the market has been low degradation speed and low load bearing properties of polycaprolactone used in medical gadgets. In addition to this, slow FDA approvals for polycaprolactone applications is also expected to hamper the market growth. However, increasing trend of using polycaprolactone in microelectronic components is projected to push the development of the global polycaprolactone market.
This review is based on Transparency Market Research’s report, titled “Polycaprolactone Market (Form Type - Pellets, Nanosphere, Microsphere; Application - Thermoplastic Polyurethane (TPU), Drug Delivery, Sutures, Wound Dressing, Tissue Engineering, Orthopedics, Dental Implant, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026.”
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