Caprolactone Market Size & Share, by Type (99.5% Purity, 99.9% Purity); Application (Polycaprolactone, Acrylic Resin Modified, Polyesters Modified, Epoxy Resin Modified) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3836
  • Published Date: Mar 30, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

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.


Caprolactone Market
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Caprolactone Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 261 Million

Forecast Year Market Size (2035)

~ USD 320 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Caprolactone Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Medical Sector –  One of caprolactone's most significant uses in the medical sector is the production of biodegradable sutures. Therefore, On account of the increasing healthcare awareness across the globe, the market is expected to expand more in the upcoming years. In the UK, healthcare spending increased by over 15% in 2020.
  • Rising Demand for Biodegradable Polymers – Caprolactone is used as a raw material for the production of biodegradable polymers, as a result, is estimated to drive market growth. Between 2018 and 2023, the global demand for biodegradable plastics was anticipated to rise by over 8% annually.
  • Increasing Construction Sector – On the account of rising urbanization and growing household income in emerging economies, the market is expected to expand more in the upcoming years. According to the most recent expenditure data, in India, construction spending was anticipated to rise by over 10% in 2022.
  • Surging Demand for Electrical Appliances – It is expected that the rising population across the globe has led to an increase in the demand for electrical appliances. Further, polyurethane-based foams, which are utilized for thermal and acoustic insulation in a variety of electronic applications, are made from basic materials including caprolactone, which is anticipated to drive market growth. It was discovered that consumer electronics sales in India increased by more than 8% in 2022.

Challenges

  • Toxic Nature of Caprolactone - The increasing concern amongst individuals for the high toxicity of caprolactone is one of the major factors predicted to slow down the market growth. For instance, caprolactone can cause skin irritation, and allergic reactions, if inhaled or ingested.
  • Fluctuating Prices of Raw Materials such as Cyclohexanone and Hydrogen
  • Availability of Alternative Materials


Caprolactone Segmentation

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:

    By Type

  • 99.5% Purity
  • 99.9% Purity

     By Application

  • Polycaprolactone
  • Acrylic Resin Modified
  • Polyesters Modified
  • Epoxy Resin Modified
  • Others

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Caprolactone Industry - Regional Synopsis

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.

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Caprolactone Market Size
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Companies Dominating the Caprolactone Landscape

top-features-companies
    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Daicel Corporation
    • Perstorp AB
    • Merck & Co., Inc.
    • Leschaco Japan K.K.
    • ITOCHU Chemical Frontier Corporation
    • Solvay S.A.
    • Santa Cruz Biotechnology, Inc.
    • Esun International Co., Ltd.
    • Tokyo Chemical Industry

In-the-news

In The News

  • 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


  • Report ID: 3836
  • Published Date: Mar 30, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising demand for biodegradable polymers and the increasing construction sector are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

Toxic nature of caprolactone, and fluctuating prices of raw materials such as cyclohexanone and hydrogenare estimated to be the growth hindering factors for the market expansion.

The market in the Asian Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are BASF SE, Daicel Corporation, Perstorp AB, Merck & Co., Inc., Leschaco Japan K.K., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, and by region.

The 99.5% pure segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Caprolactone Market Report Scope
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