September 09, 2022 07:28 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The "Polycarbonate Diols Market by Form (Solid, Liquid), Molecular Weight (g/mol) (<1,000, 1,000 - Below 2,000, 2,000 & Above), Application (Synthetic Leather, Paints & Coatings, Adhesives & Sealants, Elastomers) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global polycarbonate diols market is projected to grow from USD 249 Million in 2022 to USD 328 Million by 2027, at a CAGR of 5.7% during the forecast period. Polycarbonate diol has been extensively used to produce several polyurethane materials of excellent quality and performance. In automobiles, synthetic leather is prevalently used for interiors, especially for seat upholstery, covers, hoods, and other products, which help improve the aesthetics of interiors.
With growing environmental awareness, stringent regulations, and initiatives to support sustainable development, there has been a drastic shift from natural to synthetic leather and solvent-borne to water-borne paints and coatings. Owing to this, the demand for high-performance PU products is witnessing significant growth in the automotive industry which in turn drives the demand for polycarbonate diols.
By Form, Solid Polycarbonate diols are anticipated in order to record high ranking CAGR during the forecast period.
In general, solid polycarbonate diols lend superior resistance to hydrolysis, oxidation, and wear in polyurethane products compared with polyether and polyester polyols. At low temperatures, solid polycarbonate diols offer optimal efficiency, strength, high thermal stability, and high mechanical properties, among other things. From the perspective of demand, solid polycarbonate diols are being consumed primarily in synthetic leathers tracked by paints and coatings applications. Thus, growing demand for those applications will prompt the polycarbonate diols market over the projection period.
By Molecular Weight, 1000 G/MOL - below 2,000 G/MOL segments is expected to grow at a sound CAGR projection period in the polycarbonate diols market.
In molecular weight, the 1000 g/mol - below 2,000 g/mol segments are estimated to be signed up for healthy demand growth over the projection period. These polyols have comparatively low viscosity as compared to 2,000 g/mol & above. These polycarbonate diols provide excellent hydrolytic strength against acids, bases, corrosive solvents, and other toxic chemicals, among others. Produced polyurethane retains considerable strength and mechanical characteristics because which it is primarily used in synthetic leather applications. The rising demand for synthetic leather in the auto industry will be driving growth across this segment.
The Asia Pacific is predicted to be the fastest-growing region in the polycarbonate diols market.
APAC is to be the world's largest and fastest-growing market during the projection period. Growing demand for synthetic leather and paints & coatings in China and other countries with encouraging government policy will lead to the annual growth of the polycarbonate diols market in the APAC region. Rising environmental consciousness and strict regulation are supporting the growth of eco-friendly chemicals markets.
6 Polycarbonate Diols Market, by Molecular Weight
7 Polycarbonate Diols Market, by Form
8 Polycarbonate Diols Market, by Application
9 Polycarbonate Diols Market, by Region
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