Polycaprolactone (PCL) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Polycaprolactone (PCL) Market is segmented By Type (Pellets, Nanosphere, Microsphere), By Production Method (Ring-Opening Polymerization, Polycondensation of Carboxylic Acid), By Application (Healthcare, Thermoplastic Polyurethane, Others), By Region (North America, Europe, South America, Asia-Pacific, The Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Polycaprolactone (PCL) Market Overview

(255pages) A Report by DataM Intelligence estimates the Global Polycaprolactone (PCL)  market to grow at a high CAGR during the forecast period 2023- 2030. The market is expected to grow because it becomes important in different industries like Healthcare, Thermoplastic Polyurethane. The competitive rivalry intensifies with Perstorp Holding AB, Shenzhen Esun Industrial Co., Ltd ., Daicel Corporation , and others operating in the market.

Polycaprolactone is a semi-crystalline biodegradable thermoplastic polyester with a melting point of 60°C that is easy to manufacture, blend, and manipulate. The polyester is derived from the chemical synthesis of crude oil and degraded by aerobic and anaerobic microorganisms. It's commonly used as a resin additive to enhance processing properties and properties, including durability, flexibility, compression set, and tears strength. The PCL shows characteristics, including long-span biodegradability, 3D techniques, biocompatibility, and regenerative properties. It is non-toxic and can be quickly fabricated chemically, mechanically, and biologically and can also be used with hot-melt glue and laminating pouches. Furthermore, PCL is also used to develop jewelry, models, prototypes, medical devices, automotive components, construction materials, and the packaging industry.

Polycaprolactone (PCL) Market Summary and Scope

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Polycaprolactone (PCL) Market Dynamics

The global polycaprolactone (PCL) market is driven by the significantly growing demand for PCL in medical and biomedical applications such as drug delivery devices, sutures, injection-molded devices, general-purpose tubing and surgical drapes. The growing demand for PCL in manufacturing polyurethane and thermoplastic polyurethane, owing to its excellent properties, is triggering PCL's market share in recent times.

Growing demand for PCL in medical and biomedical applications such as for the production of drug delivery devices, suture, injection-molded devices, general-purpose tubing and surgical drapes

For the past few years, PCL is in great demand in different medical and biomedical applications globally, such as drug delivery devices, sutures, injection-molded devices, general-purpose tubing, and surgical drapes. Furthermore, polycaprolactone is gaining popularity in dentistry applications such as dental splints and root canal filling, which is expected to boost its growth. Long-term implants and managed drug release applications have also used PCL extensively. On the other hand, PCL has some drawbacks in tissue engineering, such as a slow degradation rate, poor mechanical properties, and low cell adhesion. The addition of calcium phosphate-based ceramics and bioactive glasses to PCL has resulted in a new hybrid biomaterials class with significantly improved mechanical properties, controllable degradation rates, and increased bioactivity, which are ideal for bone tissue engineering. Thus, due to excellent physical, chemical, and mechanical properties, the PCL market is expected to grow in the forecast period while dominating medical and biomedical applications. 

The growing demand for PCL in manufacturing polyurethane and thermoplastic polyurethane, owing to its excellent properties, is triggering PCL's market share in recent times.  

PCL exhibits excellent oil, fuel, and solvent resistance and good flexibility and toughness properties, making it a popular choice to manufacture polyurethane and thermoplastic polyurethane. Apart from this, polycaprolactone as a raw material in the manufacture of thermoplastic polyurethane is primarily due to its superior hydrophobic properties, UV resistance, resistance to oil and grease, chemical resistance, wear resistance, shine, adhesion, and low-temperature flexibility. One of the prime factors driving the global polycaprolactone market's growth is the increasing usage of thermoplastic polyurethane in various end-use industries such as construction, automotive, and packaging. Also, over the forecast period, increasing the use of polycaprolactone in the electronics industry would drive market growth. The increasing demand for polycaprolactone is driven by the need to seal and encapsulate pressure-sensitive microelectronic components in electronic products that withstand extreme temperatures.

Lack of product knowledge and benefits coupled with a low acceptance rate is expected to obstruct its market growth over the forecast period.

The market's growth is projected to be hampered by a lack of product knowledge and benefits. Because of its low load-bearing ability, most manufacturers avoid using polycaprolactone in medical devices, and its slow rate of degradation is expected to hamper its market growth. As a result, potential customers are turning to lower-cost alternatives, which is slowing down the industry. Polycaprolactone's low acceptance rate is expected to obstruct its market growth over the forecast period, owing to its high production cost and high price. Furthermore, over the forecast period, stringent rules and regulations prohibiting polycaprolactone products in a few industries are expected to hinder market growth.

COVID-19 Impact on Polycaprolactone (PCL) Market

The global polycaprolactone (PCL) has shown an improvement due to the outbreak of the COVID-19 pandemic as chemicals are used to make various products, including biodegradable plastics, packaging, and pharmaceuticals. Consumer demand for biodegradable packaging materials is growing in response to the spread of coronavirus. Because of the growing supply-demand gap caused by the shutdown of manufacturing plants and transportation facilities, market players have been forced to diversify their business strategies. In addition, disruptions in international trade and strict government policies concerning environmentally friendly goods have significantly impacted the global polycaprolactone market's development. With the launch of new low-cost creative products in the coming years, domestic players will have a major opportunity to gain significant market share following COVID-19.

Polycaprolactone (PCL) Market Segmentation Analysis

The global polycaprolactone (PCL) market is segmented based on type, production method, application and region. 

The polycaprolactone pellets market will be sustained by increased filament, plastics, and 3D printer extruder output in the forecast period.

The global polycaprolactone (PCL) market is segmented into pellets, nanosphere and microsphere. Out of the mentioned segments, pellets are expected to dominate the PCL market in the forecast period. The polycaprolactone pellets market will be sustained by increasing filament, plastics, and 3D printer extruder output. The growing use of PCL pellets in 3-D printing technology, where polycaprolactone filament is used, is expected to propel the market forward. The microspheres market is expected to be driven by increased PCL microspheres for drug encapsulation to achieve the desired release characteristics. Nanospheres, ranging from 10 to 1000 nm, are colloidal drug delivery devices for drugs or other active molecules. Increased demand of nanospheres for selective targeting through the reticuloendothelial system to liver and cells is expected to propel the segment demand

Global Polycaprolactone (PCL) Market Geographical Share

High use of thermoplastic polyurethane in major end-use industries such as automotive, manufacturing, and packaging accounted for a large market share of PCL in the Asia-Pacific region in the recent times 

The high use of thermoplastic polyurethane in major end-use industries such as automotive, manufacturing, and packaging accounted for a large market share in Asia-Pacific in 2018. Rapid urbanization and industrialization are to blame for the region's construction sector's development. Furthermore, increasing disposable income has boosted the selling of automobiles in the area, which is expected to drive demand for thermoplastic polyurethane and, as a result, polycaprolactone demand. Out of many countries, China emerged as the key manufacturer of polycaprolactone material for adhesive and plastic industries. Growing consumption of the PCL for manufacturing surgical equipment and melting plastic industries from China, Japan, and India is expected to trigger the product's regional industry demand in the forecast period.

Polycaprolactone (PCL) Market Companies and Competitive Landscape

The polycaprolactone (PCL) market is highly competitive with the presence of local and global companies. Some of the key players contributing to the market's growth include Perstorp Holding AB, Shenzhen Esun Industrial Co., Ltd, Daicel Corporation, Haihang Group,  Corbion, BASF SE, Durect Corporation, Polysciences, Inc., Shenzhen Polymtek Biomaterial Co., Ltd, Merck KGaA and among others.  

The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the polycaprolactone (PCL) market globally. The key players are favoring partnership and acquisition as a growth strategy to build their business.

For instance, in December 2019, scientists from the University of Silesia in Katowice created a synthesis method to produce chemically pure polycaprolactone (PCL-u). This technology offer producers to obtain PCL with desired properties

Perstorp Holding AB

Overview: The company provides specialty chemicals for a wide variety of industries and applications. With more than 135 years of experience, Perstorp is offering essential properties for products in pockets, offices, homes, and communities worldwide.

Key Development:

• In February 2019, After obtaining all necessary regulatory permissions, Ingevity Corporation and Perstorp Holding AB agreed to buy Perstorp's CapaTM caprolactone division for about €590 million in cash.

The global polycaprolactone (PCL) market report would provide access to a 60 market data table, 51 figures and 255 pages.