The global demand for Polycaprolactone Polyol Market based polyurethane resin has grown significantly in the recent years. Polycaprolactone polyols are extensively favoured in the industrial manufacturing domain as they fall under a distinctive high performance polyester class. They are also used for manufacturing polyurethane adhesives with superior UV resistance. Polycaprolactones polyols offer better abrasion resistance and possess higher tensile and tear strength as compared to other polyether-based polyurethane coatings and adhesives. The latest report published by Market Research Future (MRFR) reveals that the global market for polycaprolactone polyol will soar at a strong CAGR of 11.28% between 2016 and 2023 to reach a valuation of over USD 700 Mn. Demand for polycaprolactone polyol is also increasing due its eco-friendly characteristics. In the near futures, polycaprolactone polyol manufacturers are likely to find greater market opportunities owing to increasing bans and restriction on non-degradable polyol.
Polycaprolactone polyols are derived from the polymerization of caprolactone monomers, resulting in a versatile material with unique properties. These polyols offer excellent mechanical strength, flexibility, and chemical resistance, making them suitable for a wide range of industrial and commercial applications.
The market for polycaprolactone polyols is driven by the growing demand for high-performance materials in industries such as automotive, construction, textiles, and medical devices. The automotive industry, in particular, utilizes polycaprolactone polyols in the production of durable and lightweight components, contributing to fuel efficiency and reducing environmental impact.
Additionally, the increasing emphasis on sustainable and eco-friendly materials has further boosted the demand for polycaprolactone polyols. These polyols are biodegradable, allowing for environmentally friendly disposal options and reducing the accumulation of non-degradable waste.
Geographically, the market for polycaprolactone polyols is spread across various regions, with key players operating globally. Manufacturers focus on product development, innovation, and strategic partnerships to gain a competitive edge in the market. Furthermore, research and development activities are underway to explore new applications and improve the performance characteristics of polycaprolactone polyols.
Overall, the polycaprolactone polyol market is expected to experience steady growth in the coming years, driven by increasing industrial applications, the demand for sustainable materials, and ongoing advancements in polymer technology.
Asia Pacific is expected to dominate the global market for polycaprolactone polyol over 2023. In 2016, the region commanded for more than 30% of the market share and expected to exhibit a double-digit CAGR of 11.58% during the projection period. Factors such as growth of industrial sector and rapid urbanization is playing an important in driving the growth of the market in the region. Today, the region has become a global manufacturing hub; countries such as China and India are frontrunners in terms of industrial manufacturing. In addition, presence of a large consumer base makes Asia Pacific an ideal market for polycaprolactone polyol. The region will continue to present lucrative growth opportunities to market players throughout the assessment period. Meanwhile, Europe is expected to hold the second position in 2018 and beyond. The region’s market is projected to expand at a CAGR of 11.48% during the forecast period. In North America, demand for polycaprolactone polyol is expected to remain healthy over the next couple of years. Polycaprolactone polyol use is significantly high among American coatings manufacturers. Moreover, increased government effort to promote biodegradable plastics is partly supporting the growth of polycaprolactone polyol market in the region.
List of Key Players Covered in the Report
- Perstrop Holdings A.B.
- BASF SE
- Daicel Corporation
- Sigma Aldrich
- Shenzhen Esun Industrial Co., Ltd
- Gantrade Corporation, Huntsman International LLC (U.S)