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North America Polycaprolactone Market Size will witness tremendous growth over the forecast timeframe

Author : Ronak Bora | Published Date : 2019-07-05 

North America polycaprolactone market is anticipated to grow at faster pace owing to high demand from surgical equipment, biodegradable products and supplies. Increase product usage in modeling, splinting and as feedstock for prototyping systems will drive the product demand in the coming years. Asia pacific is the major market owing to China emerging as key manufacturer of the 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 will drive regional industry demand.

Growing need for noise barriers in the highways and commercial industry will fuel the industry demand. Increasing demand for insulation of the boats from noise and extreme temperature will augment demand of polyurethane, that in turn is projected to impact global industry growth. Enhanced durability, insulation features, versatility and strength-to-weight ratios is further likely to propel product demand. Presence of substitutes at low costs and instability of raw material costs are likely to impact polycaprolactone market price trend.

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Growing demand for polycaprolactone to seal and encapsulate pressure sensitive microelectronic components will stimulate the product penetration. However, slow degradation rate, low cell adhesion, and poor mechanical properties in tissue engineering may restrain the industry growth. Product as well as technology innovations focusing on environment-friendly and cost-effective solutions is another major factor anticipated to fuel industry growth. Tear and abrasion resistance offered by rigid polyurethane foams produced from PCL make it a preferable form of insulator driving the polycaprolactone market growth.

On the basis of type, polycaprolactone market is segmented as Pellets, Nanosphere and Microsphere. Pellets are expected to witness substantial growth in the forecast period. Upsurge in production of filament, plastics and 3D printer extruder will endure polycaprolactone pellets demand. Increased use of PCL microspheres for drugs encapsulation to obtain the desired release characteristics will drive the demand of microsphere. Nanospheres are colloidal drug delivery systems for drugs or other active molecules, with size ranging between 10 and 1000 nm. Increased demand of nanospheres for selective targeting through reticuloendothelial system to liver and cells will propel the segment demand.

Based on application, the healthcare segment is expected to expand at the fastest CAGR during the forecast period. Growth of the segment is mainly driven by augmented adoption of polycaprolactone in manufacturing of drug delivery devices. Increasing demand of polyurethane derived from polycaprolactone owing to rising need for wound dressing, hospital bedding, injection-molded devices, general purpose tubing and surgical drapes will stimulate the polycaprolactone market growth. Growing demand from dentistry application including dental splints and root canal filling will enhance segment growth.

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Global major industry players include Perstorp, Daicel, Esun, BASF SE, Durect Corporation, Sigma-Aldrich Corporation, Shenzhen Esun Industries and Corbion Purac. Polycaprolactone market share is moderately consolidated in the emerged regions such as North America owing to strong government support for developing and innovating biodegradable polymers for sustainable lifestyle. On contrary, in the developing regions the market is highly fragmented with dominance of various small companies specifically from Asia Pacific.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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