Polycarbonate Diols Market Growth Analysis | 2023-2028

Market Insights

The polycarbonate diols market was estimated at USD 256 million in 2022 and is likely to grow at a CAGR of 5.66% during 2023-2028 to reach USD 357.52 million in 2028.

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What are polycarbonate diols?

Polycarbonate diols are premium polyester polyols as compared to conventional polyester polyols. They possess various properties, such as high hydrolytic stability, impact resistance, hardness, and chemical resistance.

Market Dynamics

The major factor that is immensely contributing to the demand for polycarbonate diols is the drastic shift from solvent-based towards water-based polyurethane materials over the past few years. Water-based polyurethane is made up of traditional polyols, which contain a hydrophilic group; it directly affects water-based polyurethane. Polycarbonate diols are majorly used in the production of waterborne polyurethane materials, which is likely to drive the market during the forecast period.

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Segments' Analysis

By Molecular Weight Type

Based on the molecular weight type, the market is segmented as below 1,000 G/Mol, 1,000 G/Mol-2,000 G/Mol, and 2,000 G/Mol & above. The 1,000 G/Mol-2,000 G/Mol segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. These polycarbonate diols possess various properties such as hydrolytic stability against acids, bases, corrosive solvents, and other toxic chemicals, because of which, they are majorly used in synthetic leather applications in the automotive industry. This is the prime factor that is expected to drive the growth of the segment during the forecast period.

By Application Type

Based on the application type, the market is segmented as synthetic leather, paints & coatings, adhesives & sealants, elastomers, and others. The synthetic leather segment is expected to remain the most dominant as well as fastest-growing market, due to the gradual shift of the market from natural towards synthetic leather. The development of the synthetic leather industry is based on various factors, such as the supply of raw materials, growing environmental concerns, animal protection, and changes in consumer demand. This type of polyurethane synthetic leather offers superior physicochemical properties and is closer to natural leather, which has increased the demand for high-quality functional polyurethane from artificial leather manufacturers across the globe.

By Form Type

Based on the form type, the market is segmented as solid and liquid. Solid polycarbonate diols are expected to remain the faster-growing segment during the forecast period. Various factors responsible for the increasing demand for this segment are high resistance to hydrolysis, oxidation, stain, and wear in polyurethane products. At low temperatures, these diols offer optimum performance, strength, high thermal stability, and excellent mechanical properties. The increasing demand for solid polycarbonate diols is based on the demand for high-performance synthetic leather and the increasing demand for waterborne paints & coatings in the automotive, furniture, and textiles, and other markets, which is fueling the growth of the segment.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest market for polycarbonate diols during the forecast period. The growth of the region’s market is driven by the shifting of manufacturing bases from developed economies to the developing countries, owing to low cost of production and lenient regulation in the Asia-Pacific region. The growth in industrial sector is further driving the demand for polyurethane, which is bolstering the market for polycarbonate diols in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Molecular Weight Type

• Below 1,000 G/Mol
• 1,000 G/Mol–2,000 G/Mol
• 2,000 G/Mol & Above

By Form Type

• Solid
• Liquid

By Application Type

• Synthetic Leather
• Paints & Coatings
• Adhesives & Sealants
• Elastomers
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major players in the polycarbonate diols market are-

• Asahi Kasei Corporation
• Chemwill Asia Co. Ltd.
• Mitsubishi Chemical Corporation
• Perstorp Group
• Tosoh Corporation
• UBE Industries, Ltd.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market Trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by molecular weight type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.