The polycaprolactone market is projected to rise at a promising 10% CAGR during the assessment period from 2020 to 2030. The Fact.MR report states that the coronavirus pandemic has resulted in stronger demand for biodegradable materials for packaging applications, which will support the adoption of polycaprolactone. However, the temporary suspension of production and logistics facilities will hurt market growth in the near future.
"Polycaprolactone is biodegradable variant of polyester, and is increasingly finding key roles to play in the healthcare sector, primarily as an affordable material for engineered tissue applications. This trend will bolster adoption as lockdown restrictions are relaxed around the world," says the Fact.MR analyst.
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Polycaprolactone Market - Important Takeaways
Polycaprolactone pellets are highly popular, owing to application as 3D printer extruder, filaments and plastics.
Healthcare sector applications will contribute substantially to revenue, owing to increased use in drug delivery devices.
North America is a major polycaprolactone market owing to high demand for biodegradable products and surgical equipment supplies.
Polycaprolactone Market - Driving Factors
Rising scope of applications in implants and controlled drug release devices to drive use of polycaprolactone.
Rising demand for pressure sensitive microelectronic components will support overall sales.
Noise barrier and insulation properties bolster polycaprolactone application in infrastructure projects.
Polycaprolactone Market - Leading Constraints
Poor cell adhesion and mechanical properties restrict the scope of application for polycaprolactone.
Slow rate of degradation, and the associated environmental concerns to hurt adoption rates.
Anticipated Market Impact by Coronavirus Outbreak
The rapid transition towards eco-friendly polymer materials for healthcare applications will support the demand for polycaprolactone materials during the coronavirus outbreak. However, the disruption of supplies, and suspension of production activities through stringent lockdowns will hold back market growth in the near term. Recovery is likely to be strong by the end of 2020 as regulations are relaxed.
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Leading producers in the polycaprolactone market are Sigma Aldrich Corporation, Perstop Holding, Corbian Purac, BASF SE, Diacel Corporation, and Shenzen Esun Industrial Co. Major manufacturers are focusing on product development, expansion of manufacturing capacity, and acquisition of smaller manufacturers. For instance, GF Machining Solutions has acquired Microlution Inc.
More on the Report
The FACT.MR's market research report provides in-depth insights on polycaprolactone market. The market is scrutinized according to form (pellets, nanosphere, and microsphere), manufacturing process (ring opening polymerization and polycondensation of carboxylic acid) and application (thermoplastic polyurethane and healthcare) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).
Press Release: https://www.factmr.com/media-release/1518/global-polycaprolactone-market