Market Synopsis of Global Polycaprolactone Polyol:
Global Polycaprolactone Polyol Market has been increasing tremendously, specifically in Asia Pacific Region growing at CAGR of 11.58% during the forecast period, owing to rise in the populations in this region resulting to increasing in demand for resins, footwear industry. Additionally, automotive industry growth typically follows the growth of these key end markets. The demand from Polycaprolactone Polyol based polyurethane resin is increasing day by day in world due to the governments initiative for biodegradable plastics and rising environmental regulations in lowering carbon emissions and greenhouse gases. Europe is the second largest consumer of Polycaprolactone Polyol growing at CAGR of 11.48%, Europe is major consumer especially in terms of foam, coating and adhesive based application products. In addition, Europe is followed by North America which is growing at CAGR of 11.18%. The coating based application of Polycaprolactone Polyol are leading in North America. The biodegradable nature of the polyol based resins and the coating applications that increase the life of the product are the major market driving factor for the Polycaprolactone Polyol Market. The competition from petroleum based polyols are the restraining factor for the market. Moreover, According to market research, there is a tremendous opportunity for new comers of Polycaprolactone Polyol manufacturers to collaborate and expand the business to fulfil the demand in this sector.
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.
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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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Geographically, the Global Polycaprolactone Polyol Market by region is segmented into Asia Pacific, North America, Europe, Latin America and Middle East & Africa. As per MRFR analysis Asia Pacific dominated the Polycaprolactone Polyol Market and has accounted for the largest share of 30.10% the market in 2016; expected to grow at CAGR of 11.58%. Asia Pacific market is followed by Europe and North America growing at CAGR of 11.48% and 11.28% respectively. Moreover, the products from Polycaprolactone Polyol are biodegradable in nature, and government initiative for biodegradable plastics in these region are expected to drive the market.
Key Points from Table of Contents:
10 Company Profile
10.1 Perstorp Holdings A.B
10.1.1 Company Overview
10.1.2 Product/Business Segment Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 BASF SE (Germany)
10.2.1 Company Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Update
10.2.4 Key Developments
10.3 Daicel Corporation
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Updates
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.5 Shenzhen Esun Industrial Co., Ltd
10.5.1 Company Overview
10.5.2 Product/Business Segment Overview
10.5.3 Financial Updates
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.