Caprolactone Market size is poised to cross USD 320 million by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of caprolactone was over USD 261 million. The growth of the market can be attributed to the increasing number of infrastructural activities across the globe. On the account of increasing population, there is a need for more infrastructure, which increases the demand for caprolactone in this sector. For instance, caprolactone is used in various infrastructural sectors as a raw material or additive, this as a result is expected to add to the market growth. According to recent data, India's infrastructure output climbed around 7% over the previous year in January 2023.
In addition to these, factors that are believed to fuel the market growth of caprolactone include the rise in demand for coatings and adhesives. For instance, coatings and adhesives are utilized in various industries such as automotive, construction, and electronics. Additionally, the growing technological advancements in caprolactone production are predicted to present the potential for market expansion over the projected period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 261 Million |
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Forecast Year Market Size (2035) |
~ USD 320 Million |
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Regional Scope |
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Type (99.5% Purity, 99.9% Purity)
The global caprolactone market is segmented and analyzed for demand and supply by type 99.5% purity and 99.9% purity. Out of the two types, the 99.5% purity segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing surgical procedures. Caprolactone which is 99.5% pure is a high-quality substance acceptable for use in medical equipment, such as surgical sutures. Owing to their biodegradability, caprolactone-based sutures have grown in popularity. These sutures have a number of benefits as they are composed of materials including silk or nylon. In addition, they deteriorate more reliably over time and are less prone to induce an inflammatory reaction. Further, the patient may experience a more comfortable healing process as a result, and the final results may be better. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years. As per data, to address the surgical demands of the Indian population, over 3000 procedures were performed yearly as of 2021.
Application (Polycaprolactone, Acrylic Resin Modified, Polyesters Modified, Epoxy Resin Modified)
The global caprolactone market is also segmented and analyzed for demand and supply by application into polycaprolactone, acrylic resin modified, polyesters modified, epoxy resin modified, and others. Amongst these five segments, the epoxy resin-modified segment is expected to garner a significant share. The growth can be attributed to growing applications of epoxy resin modified in the aerospace and recreation industries Epoxy resins are utilized in the aerospace sector to create components for engines as well as wings and fuselages for airplanes. Besides that in fields where dependability and performance are crucial, such as the production of sports equipment, automobiles, and aircraft, their greater flexibility and impact resistance make them a preferred option. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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APAC Market Statistics
The Asian Pacific caprolactone market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rising building and construction sector in the region. In countries such as China, India, and Indonesia in particular, there is a growing need for houses, companies, and infrastructure including roads, bridges, and airports, which has raised the demand for caprolactone in the region. Caprolactone is mostly utilized as a raw ingredient in this sector to make polyols and polyurethane resins. For instance, insulation, adhesives, sealants, and coatings are just a few of the many uses for polyurethane resins in the construction sector. In addition, polyurethane resins based on caprolactone have outstanding physical and chemical characteristics, including great durability, flexibility, and resistance to chemicals and weathering. Further, the rising number of government initiatives to build smart cities is also anticipated to contribute to market growth in the region. According to recent estimates, the construction market in China is projected to rise by over 8% in 2022.
North American Market Forecast
The North American caprolactone market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the growing medical industry. The demand for caprolactone in the region is rising owing to its biocompatibility, biodegradability, versatility, and variety of applications in healthcare. For instance, the creation of biodegradable sutures is one of caprolactone's most significant uses in the healthcare sector. Further, the surging infrastructural development, and growing investments to conduct research and development activities in the chemicals industry are also anticipated to contribute to the market growth in the region.
Europe Market Forecast
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the significant growth of the industrial and chemical industries in wealthy nations including the United Kingdom, France, and Germany. For instance, an increase in demand for caprolactone is one of the main results of expanding the chemical sector. Caprolactone is used to make a variety of goods, including coatings, adhesives, and elastomers, and demand for it is predicted to rise as the chemical industry expands. Further, the growing construction industry in the region is also anticipated to contribute to the market growth in the region.
Daicel Corporation teamed up with Gantrade Corporation to offer an extensive range of polycaprolactone, polycarbonate, polyether, and polyester polyols, as well as chain extenders, curatives, and other polyurethane intermediates. Further, the partners are contributing their specialized knowledge to capitalize on synergies within their own portfolios of urethane intermediates.
Leschaco Japan K.K. announced the acquisition of the operations of Colombia's Caltrans S.A.S., a logistics service provider. The acquisition is anticipated to support commercial operations in one of South America's most promising economies.
Author Credits: Smruti Ranjan, Rajrani Baghel
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