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Polycarbonate diol (PCD) is classified as a type of chemical polyol material that has two ends, varying from hundreds to thousands of functional OH molecular and molecular weight groups. They are available in solid as well as liquid forms based on application needs. They are also premium polyester polyols. Moreover, their properties such as impact resistance, enhanced hydrolytic stability, chemical resistance, and hardness make it a preferred choice over standard polyester polyols. They find their applications in the decorative material, polyurethane-based coating formulations for synthetic leather, and acrylic resin.
The rising demand for polycarbonate diols from synthetic leather and paints & coatings applications will flourish the market growth. The properties such as UV and chemical resistance and outdoor weatherability make PCD an ideal choice in the paints & coatings industry. Whereas, in the synthetic leather application the product is used to provide softness and flexibility to polyurethane leather finishes. The increasing demand for paints & coatings in the construction industry coupled with the rising adoption of leather in the production of bags, clothes, and belts will boost product consumption. Hence, this is anticipated to fuel the polycarbonate diols market growth during the forecast timeline.
However, the high cost of polycarbonate diols when compared with conventional polyols is impacting the overall demand. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rising demand of polycarbonate in the synthetic leather and paints & coatings applications to drive the market growth.
Key Market Restraint -
High cost to hamper the market growth
Based on form, the polycarbonate diols market is segmented into solid and liquid. Based on application, the market is segmented into synthetic leathers, paints & coatings, adhesives & sealants, elastomers, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the polycarbonate diols market include Ube Industries Ltd., Mitsubishi Chemical Corporation, Asahi Kasei Corporation, Covestro Ag, Tosoh Corporation, Daicel Corporation, Perstorp Group, Saudi Arabian Oil Co., GRR Fine Chem Pvt. Ltd., and Chemwill Asia Co. Ltd.
Asia Pacific is anticipated to witness the highest growth in the polycarbonate diols market. The growth is attributed to the rising product adoption in the paints & coatings industry. The increasing product use in synthetic leather will boost market growth in Europe. In North America, the US and Canada are the leading contributors. The growth is due to a rise in product demand from adhesive & sealants applications. The Middle East & Africa is anticipated to witness significant growth, owing to rising product utilization in the elastomer application.
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