The global polycarbonate diols market size is estimated at USD 200 million in 2019 and is projected to reach USD 255 million by 2024, at a CAGR of 5.0%
NEW YORK, Nov. 28, 2019 /PRNewswire/ --
The increasing environmental regulations resulting in the use of better polyurethane material is expected to drive the market.
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The global polycarbonate diols market size is estimated at USD 200 million in 2019 and is projected to reach USD 255 million by 2024, at a CAGR of 5.0%. Polycarbonate diol has been extensively used to produce several polyurethane materials of excellent quality and performance. Moreover, the rising environmental awareness and imposition of stringent regulation across the globe, the industrial preference has been a shift from solvent-based towards water-based polyurethane materials. To mitigate this, instead of traditional polyols, polycarbonate can be used to improve the hydrolysis resistance of Polyurethane materials. Thus, the polycarbonate diols can be used widely in the production of the waterborne polyurethane materials.
Solid form is expected to maintain ascendancy over the forecast period.
Generally, solid polycarbonate diols impart high resistance to hydrolysis, oxidation, stain, and wear in polyurethane products as compare to polyether and polyester polyols.At low temperatures, solid polycarbonate diols offer optimum performance, strength, high thermal stability, and high mechanical properties, among others.
In terms of demand, solid polycarbonate diols are consumed mainly in synthetic leathers followed by paints and coatings application. Thus, growing demand from these applications will drive the polycarbonate diols market over the forecast period.
1000 G/MOL – below 2,000 G/MOL segment is expected to grow at a healthy CAGR during the forecast period in the polycarbonate diols market.
By molecular weight, the 1000 g/mol – below 2,000 g/mol segment is estimated to register healthy growth in demand over the forecast period.These polyols have relatively low viscosity as compared to 2,000 g/mol & above.
These polycarbonate diols offer excellent hydrolytic stability against acids, bases, corrosive solvents, and other toxic chemicals, among others.Produced polyurethane possesses significant strength and mechanical properties owing to which it is predominately used in synthetic leather applications.
The rising demand for synthetic leather in the automotive industry will drive growth in this segment.
Significant growth in the adoption of high-performance synthetic leather across the industry, a key to polycarbonate diols market growth
Due to the performance advantages of synthetic leather, it has replaced natural leather not only in the fields of furniture, clothing, luggage, bags, shoes, etc., but also in automotive seat interiors, and interior decoration, among others. With the increase in the production of synthetic leather-based products and the structural upgrading of the industry, the demand for high-quality, functional polyurethane from synthetic leather manufacturers is continuously growing across the globe.
Polyurethane resins produced from polycarbonate diols possess excellent hydrolysis resistance, chemical resistance, abrasion resistance, and heat resistance, among others.Further, these high-performance polyurethane resins, when used in the production of synthetic or natural leather, help to improve its durability and stain resistance, among others.
Thus, the rising demand for synthetic leather across the globe will drive the market over the forecast period.
APAC to be the largest and fastest-growing polycarbonate diols market during the forecast period.
APAC to be the largest and fastest-growing market during the forecast period.The increasing demand for synthetic leather and paints & coatings in China and other countries with supportive government policies will drive the growth of the polycarbonate diols market in the APAC region.
Rising environmental awareness and stringent regulation support the growth of eco-friendly chemicals markets.Polycarbonate diols are eco-friendly and impart high-performance characteristics in polyurethane that, in turn, helps for the growth of the market.
Moreover, the rising demand for PU-based synthetic leathers in the automotive and textile industries provide the stimulus for the growth of the market.
• By Company type: Tier1:30% Tier2:50% Tier3:20%
• By Designation: C-level executives: 20% Directors: 20% and Others: 60%
• By region: North America: 20% Europe: 40% APAC: 30% Rest of World: 10%
The major players in the polycarbonate diols market are Ube Industries Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), Asahi Kasei Corporation (Japan), Covestro Ag (Germany), Tosoh Corporation (Japan), Daicel Corporation (Japan), Perstorp Group (Sweden), Saudi Arabian Oil Co. (Saudi Arabia), GRR Fine Chem Pvt. Ltd.(India), and Chemwill Asia Co. Ltd. (China), among others.
Research Coverage
This research report categorizes the global polycarbonate diols market based on form, molecular weight, application, and region.The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.
Detailed analysis of the key market players provides insights into business overviews, services, key strategies, and recent developments associated with the market.
Reasons to Buy the Report
The report will help the leaders/new entrants in this market in the following ways:
1. This report segments the global polycarbonate diols market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, acquisitions, and agreements.
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