Global Polycaprolactone Polyol Market: Overview
Rapid technological advancement and increased research are aiding the development of biodegradable polymers that does not cause any adverse effect on the environment. Polycaprolactone Polyol Industry is high-performance polymers that are extensively utilized in industrial applications. The report published by Market Research Future (MRFR) states that the global polycaprolactone polyol market is marked to expand remarkably at a CAGR of 11.28 percent during the forecast period of 2022 to 2030 and reach the market valuation of USD 791.4 Mn by the end of the year 2030.
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Global Polycaprolactone Polyol Market: Drivers
Increased utilization of biodegradable polyesters for the production of thermoplastic polyurethane is inducing high demand for polycaprolactone polyol as a raw material for the synthesis of thermoplastic polyurethane, which in turn is majorly propelling the growth of the global polycaprolactone polyol market. The properties of polycaprolactone polyol such as resistance to oil and grease, water resistance, UV resistance, adhesion, chemical resistance and high flexibility at low temperature are leading to the increased adoption of polycaprolactone polyol as a raw material that is also biodegradable. Hence, increased environmental awareness and increased adoption of biodegradable polymers are also fueling the expansion of the global polycaprolactone polyol market.
Global Polycaprolactone Polyol Market: Segmentation
The global polycaprolactone polyol market has been segmented on the basis of application and end user. Based on application, the global polycaprolactone polyol market has been segmented into foam, adhesive, coating, elastomer and others. The foam segment commands the dominant share of the global polycaprolactone polyol market during the review period. Based on end user, the global polycaprolactone polyol market has been segmented into resin, footwear, automotive, pharmaceutical, printing, and others
Global Polycaprolactone Polyol Market: Regional Analysis
Geographically, the global polycaprolactone polyol market has been segmented into five major regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. The Asia Pacific region commanded for the major share of 30.10% in the global polycaprolactone polyol market during the year 2022 and is anticipated to expand at the highest CAGR of 11.58% during the assessment period.
Rapid development of the industrial sector and increased manufacturing of polycaprolactone polyol in the developing countries such as China and India and presence of large consumer base are aiding the expansion of the polycaprolactone polyols market in the Asia Pacific region. The Europe region commanded the second largest share of the global Polycaprolactone Polyol Market Demand in the year 2022 and is expected to witness notable growth at a CAGR of 11.48% during the review period. Proliferation in government initiatives in promoting the utilization of biodegradable plastics and increased research for the development of such innovative products are fueling the growth of the polycaprolactone polyol market in the Europe region. Rapid urbanization and industrial development and increasing awareness regarding the harmful effects caused on the environment by the utilization of non-biodegradable polymers are inducing high demand for polycaprolactone polyol in the North America region, leading to the expansion of the polycaprolactone polyol market at a notable CAGR of 11.18% during the assessment period of 2022-2028.
Global Polycaprolactone Polyol Market: Competitive Analysis
Some of the prime players profiled by Market Research Future (MRFR) that are operating in the global polycaprolactone polyol market are Perstrop Holdings A.B., BASF SE, Daicel Corporation, Sigma Aldrich, Shenzhen Esun Industrial Co., Ltd, Gantrade Corporation, Huntsman International LLC (the U.S) and others. The players in the global polycaprolactone polyol market are expanding their businesses by introducing innovative products that utilize polycaprolactone polyol in the manufacturing process along with strategic mergers and acquisitions that are aiding these players in maintaining their dominance in the global polycaprolactone polyol market.
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