Polycaprolactone (PCL) is a biodegradable polymer which is used to produce thermoplastic polyurethane and find a range of application across painting, medical device, construction industry, automotive industry, and packaging industry. Polycaprolactone is highly resistance to oil, grease, abrasion, and water. Moreover, they are also used to produce coatings, sealants, adhesives, and elastomers. They have high durability, versatility, and insulation features which makes them ideal for sealing and encapsulate pressure-sensitive microelectronic components application. Owing to its tear and abrasion resistance property it is a preferable form of insulator which can be used in electronic devices.

The global polycaprolactone market is estimated to account for US$ 155.3 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 11.2% during the forecast period (2019-2027)

Drivers

Growing demand for polycaprolactone for production of thermo polyurethane is expected to propel the market growth of polycaprolactone over the forecast period. Polycaprolactone is used as a soft material in the production of thermoplastic polyurethane (TPU) it offers better hydrophobic characteristics and resistance to oil and grease compared to other biodegradable polymers, such as Polylactide (PLA). Moreover, Polycaprolactone TPU also provide value-added properties, such as chemical resistance, low temperature flexibility, UV-resistance, gloss, adhesion, wear-resistance and reduces carbon footprints which are fueling their demand in the production of polycaprolactone.

Market Opportunities

The growing focus of researchers to blend polycaprolactone with polylactic acid (PLA) or polyglycolic acid (PGA) is expected to offer lucrative growth opportunities over the forecast period. According to the Coherent Market Insights analysis, researches at the National Cheng Kung University, Taiwan came up with a solution of blending PCL with a cheaper biodegradable natural polymer, such as starch, cellulose, chitin or chitosan. Results were positive and commercially applied in the packaging industry for the production of biodegradable plastic bags.

Market Restraints

Availability of alternatives such as Polylactide (PLA), Polyhydroxyalkanoates (PHA), and Polybutylene Succinate (PBS) that are biodegradable polymers and produced from fully renewable resources is expected to hinder the market growth of polycaprolactone. Hence increase in demand for such as a biodegradable polymer that promotes green environment opens up into new application such as packaging, pharmaceuticals, as well as in the medical sector

Key Takeaways

On the basis of application, the thermoplastic polyurethane (TPU) dominated the global polycaprolactone market in 2018 with a 45.2% market share in terms of volume, followed by health care and others respectively.

Market Trends

Expanding packaging industry where polycaprolactone is used as an additive in packaging film is expected to propel the market growth. It is used in combination with starch to produce plastic from which disposable cups and plates are manufactured. Therefore, polycaprolactone is widely used to produce packaging products such as plastic containers for the packaging of food products and this is expected to propel the market growth of polycaprolactone.

The rising focus of manufacturers to expand their presence across developing economies such as China and India is expected to augment the market growth of polycaprolactone. According to Coherent Market Insights forecast, India and China are the major consumers of PCL in the Asia Pacific region and are expected to collectively account for more than 15,000 tons of PCL in 2021. Demand for PCL in the Asia Pacific is huge, especially in the textile, footwear, automotive, and other applications.

Competitive Section:

Key players operating in global polycaprolactone market are Perstorp Holding A.B., BASF SE, Diacel Corporation, Sigma-Aldrich Corporation, Durect Corporation, Corbion Purec, Shenzen Esun Industries Co. Ltd., and Haihang Industries Co. Ltd.

Few Recent Developments

BASF SE

  • In 2015, BASF SE launched a new polyurethane and thermoplastic polyurethane portfolio for work and safety shoes. The company launched this product under the trade name Infinergy and is currently used in the new energy boost running shoe from Adidas.

Market Taxonomy

By Application

  • Thermoplastic Polyurethane (TPU)
  • Healthcare
    • Drug Delivery
    • Wound Care Management
    • Sutures
    • Wound Dressing Tapes
    • Tissue Engineering
    • Orthopedic
    • Dental Implant
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa
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