Global Polycaprolactone Market Grows Steadily at a CAGR of 6.14%

Introduction

Polycaprolactone is one of the first hydrophobic compostable polymers. It is made by opening the ring of e-caprolactone and then polymerizing it. It works well with living things, is tougher than other bio-based plastics, and costs less than those materials. Making flexible polyurethane is one of the most popular ways to use polycaprolactone. It is added to plastic to make it easier to work with and improve its uses for the end user. Polycaprolactone breaks down in the body more slowly than other biodegradable polyesters, so it is mostly used in healthcare.

Market Dynamics

Favorable Use of Polycaprolactone in the Formulation of Thermoplastic Polyurethane Drives the Global Market

Polycaprolactone is a polyester that breaks down naturally and is used to make thermoplastic polyurethane (TPU). It gives polyurethane goods better resistance to water, oil, solvents, and chlorine, among other things. Polycaprolactone is good for making thermoplastic polyurethane because it is recyclable. This cuts down on using carbon-based raw materials in the plastic value chain. The building, healthcare, automotive, and packaging industries use flexible polyurethane as a raw material more and more. Polycaprolactone made TPU more flexible, clear, and resistant to oil, grease, and wear, so it became the most popular industrial plastic for these uses. So, the demand for polycaprolactone increases as more businesses use TPU. TPU is also being used to make car cabins comfortable. It makes cup holders, instrument screens, body sight molding, and door buttons. It also doesn't scratch, wear, or change color.

Rise in Use in Osteobotics Creates Tremendous Opportunities

Temporary architecture using biodegradable materials is growing. A 2015 Architectural Association DRL student used polycaprolactone, a biodegradable polyester, to build a temporary pavilion or installation structure. This framework's substance stretches when heated and strengthens when cooled. Robotic arms completed the project. Robotic arms stretch polycaprolactone at 60°. Another robotic hand sprays coolant on overstretched material. The method creates a plastic bone-like structure. Thus, polycaprolactone is being used to produce plastic bone-like structures in osteolytic. This is projected to offer a cost-effective architectural framework for commercial construction applications. Regulatory organizations are finishing the commercial feasibility assessment on this notion. Thus, in the next 2-3 years, polycaprolactone will be commercially used in osteolytics, providing new growth potential for this sector.

Regional Analysis

Asia-Pacific is the world’s biggest polycaprolactone market, and it is expected to grow at a CAGR of 10.9% over the next five years. Market growth in the area is driven by things like the presence of large chemical companies, the rise of industrialization, and the use of modern production methods.

Also, a large rise in investments in biomedical businesses is likely to give polycaprolactone in this region more ways to be used. China has the biggest part of the polycaprolactone market in the Asia-Pacific region. China has well-established key industries, such as automotive, construction, furniture, and consumer goods. Since these businesses use polyurethane, the market will likely grow well. Governments in this area are focused on making healthcare policies like free healthcare services and free health insurance easy to access and cheap for people below the poverty line. Big investments are being made in line with this goal, but few are in progress. So, the polycaprolactone market in this area is expected to have much room for growth over the next few years.

In North America, due to the large number of people who buy artificial plastic, the polycaprolactone market is expected to grow steadily over the next few years. Also, biodegradable plastics are slowly becoming more famous in the area, which helps the market grow. Also, the biggest things moving the market are the presence of top companies in the area, the rise in demand for cheaper choices like polycaprolactone in the chemical industry, and the rise in investments in healthcare infrastructure. The market is also expected to grow because of technological changes in the healthcare industry in this area. Due to the developed hectare infrastructure, the U.S. has the largest part of the North American polycaprolactone market.

Key Highlights

• The global polycaprolactone market was valued at USD 808.54 million in 2022. It is estimated to reach USD 2,085.1 million by 2031, growing at a CAGR of 11.10% during the forecast period (2023–2031).
• Based on form, the global polycaprolactone market is divided into pellets, nano-sphere, and microsphere. The pellets segment dominates the global market and will likely exhibit a CAGR of 8% over the forecast period.
• Based on the production method, the global polycaprolactone market is bifurcated into ring-opening polymerization and polycondensation of carboxylic acid. The ring opening polymerization owns the global market and will likely exhibit a CAGR of 11% over the forecast period.
• Depending on the application, the global polycaprolactone market is classified into coating and thermoplastic polyurethane, healthcare, and others. The healthcare sector is the most significant contributor to the market and is estimated to exhibit a CAGR of 8.6% during the forecast period.
• Asia-Pacific is the most significant global polycaprolactone market shareholder and is estimated to grow at a CAGR of 10.9% over the forecast period.

Competitive Players

Competitive Players

The key players in the global polycaprolactone market are BASF SE, Corbion N.V., Daicel Corporation, Haihang Industry Co., Ltd., Merck KGaA, Otto Chemie Pvt. Ltd., Perstorp Holding AB, Polysciences, Inc., Shenzhen eSUN Industrial Co., Ltd, and Shenzhen Polymtek Biomaterial Co., Ltd.

Recent Developments

Market News

• In May 2023, BASF said that its new PCL plant in China had begun making products. The plant can make up to 50,000 metric tons of PCL per year, which will meet the growing demand in Asia.
• In June 2023, Sabic and Teijin signed a statement of understanding to work together on making new PCL-based products. Both companies will work together to make PCL-based materials for various uses, such as cars, gadgets, and medical equipment.

Segmentation

Global Polycaprolactone Market: Segmentation

By Form

• Pallets
• NanoSphere
• Microsphere

By Production Method

• Ring-opening polymerization
• Polycondensation of Carboxylic acid

By Application

• Coating and Thermoplastic Polyurethane
• Healthcare
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA