Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Polycaprolactone Polyol Market is estimated to be valued at USD 377.1 million by the end of 2016 and is expected to grow at a CAGR of 11.28% to reach USD 791.4 million by the end of 2023. Foam accounted for the largest market share of 31.57% in 2016, projected to grow at the highest CAGR of 10.89% during the forecast period. Foam segment is followed by coating, adhesive, elastomer and others. The properties of polycaprolactone polyol such as, excellent oil, solvent and fuel resistance, abrasion resistance, high tensile strengths and cut and tear resistance in the end use applications is expected to stimulate the demand for foam and elastomer segment. In terms of volume, foam is leading the market in 2016 and is expected to grow at a CAGR of 10.96% during the forecast period in Asia Pacific region. Europe is the second largest consumer of polycaprolactone polyol followed by North America; the latter regions are expected to grow at CAGRs of 10.78% and 10.48% respectively.
The key players in market includes
- Perstrop Holdings A.B.,
- BASF SE,
- Daicel Corporation,
- Sigma Aldrich,
- Shenzhen Esun Industrial Co., Ltd,
- Gantrade Corporation,
- Huntsman International LLC (U.S)
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The global polycaprolactone polyol market has been segmented into: application and end use. On the basis of application, the market has been divided into foam, coating, adhesive, elastomer and others. Based on the end user, the market is segmented resin, footwear, automotive, pharmaceutical and others.
The consumption of polycaprolactone polyol in foam accounts for the largest market share in the global market, owing to its inherent properties such as excellent oil, solvent and fuel resistance, abrasion resistance, high tensile strengths and cut and tear resistance among others. The segmental growth of foam can be attributed to various factors such as the surge in demand from the footwear sector coupled with the consumer resin market growth, surge in automotive production, and increasing prevalence of electric vehicles among others. Additionally, polycaprolactone polyol is utilized in various niche sector as a coating, adhesive, elastomer and foam. It is utilized as coating to increasing the life of the product. Polycaprolactone based resins are used in electrical insulations, microfluidics, microelectronics. The use of polycaprolactone based products have accelerated the market to many extent due to its property as excellent thermal resistance, physical properties, biodegradable nature..
The resin market is one of the major consumer of polycaprolactone polyol, the valuation of resin market is valued at approximately USD 147.4 million in 2016; growing at 11.43% of CAGR during forecast period. Due to increasing focus on sportswear generally among consumers the footwear is the second largest market for the polycaprolactone polyol. The footwear industry is valued at approximately USD 72 million in 2016 and projected to grow at the CAGR of 11.38%. The automotive segment is the third largest consumer of polycaprolactone polyol, the segment is anticipated to grow at a rate of 11.28% to reach approximately USD 101.2 Million by the end of 2023, owing to the increasing automotive production in line with the decline in crude oil prices.
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Asia-Pacific market for polycaprolactone polyol is divided into China, Japan, India and other Asian and Oceania countries. Comparatively, China dominated the market for polycaprolactone polyol over other countries in the region accounting for nearly more than half of the consumption of polycaprolactone polyol in the Asia-Pacific market. Some of the substantial factors attributed to the market growth in China are the owing to huge end-use industry penetration in the region along with presence of considerable number of producers coupled with cheap labor cost and growing exports in the country.
Asia Pacific market is followed by Europe and North America with growth at CAGR of 11.48% and 11.18% respectively. The Europe market for polycaprolactone polyol as the second largest market globally in terms value and volume. Moreover, Asia Pacific market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in thermoplastic polyurethane care and footwear industry in the region.
The polycaprolactone polyol market in the Middle East & Africa and Latin America will witness moderate growth rates during the forecast period. Latin America region is expected to be grow at a slightly higher rate as compared to the Middle East & Africa region, demand in Latin America will be predominantly from the automotive industry. The latter regions are expected to grow at CAGRs of 10.78% & 10.58% respectively.
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