Polycarbonate Diols Market Overview by Size, Status and Forecast 2031
Polycarbonate Diols Market Expected to Reach US $ 400 Million by 2031
ALBANY, NEW YORK, USA, Jan 4, 2022 /EINPresswire.com/ – The global polycarbonate diols market was valued at over US $ 200 million in 2020 and is expected to reach US $ 400 million by 2031 , with a CAGR of 5% during the forecast period 2021 to 2031. Polycarbonate diols are resistant to oxidation, wear and stains; they also offer resistance to hydrolysis in polyurethane products compared to polyester polyols and polyethers. Solid polycarbonate diols offer high strength, excellent mechanical properties, efficient performance, and high thermal stability when used at low temperatures.
The demand for polycarbonate is increasing across the world, mainly due to the increasing demand for synthetic leather. Solid polycarbonates are also used in various applications in various industries such as water-based paints and coatings in textiles, furniture and automotive. The liquid form of polycarbonate diols is made from traditional polyols, which consist of a hydrophilic group. As a result, the water resistance property of the material is affected. Polycarbonate is added to improve the hydrolysis resistance of polyurethane materials. Therefore, polycarbonate diols can be effectively used in the production of water-based polyurethane materials.
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The shutdown in various countries around the world due to the COVID-19 pandemic has banned the import of various components, including raw materials needed for the production of polycarbonate diols. This hinders the activities of various industries. However, the increase in demand for synthetic leather during the pandemic is boosting the demand for polycarbonate diols. The COVID-19 outbreak has created several challenges for the synthetic leather and paints and coatings industries. Governments of European countries are preparing for a wider spread of the virus. Germany and Italy are among the worst affected countries among industrialized economies.
The global synthetic leather industry was valued at US $ 31.4 billion in 2020. Synthetic leather is petroleum-based leather, which can be used as an alternative to genuine leather. Synthetic leather is soft and water resistant; therefore, it can be used repeatedly just by cleaning it. It is fire and stain resistant. Synthetic leather is resistant to abrasions and cuts. Therefore, synthetic leather products are more durable. Synthetic leather is mainly used in various end use industries such as automotive, footwear, furniture, clothing, handbags, bags and wallets.
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Key Drivers of Polycarbonate Diols Market
The global paints and coatings industry was valued at US $ 146.2 billion in 2019. Paints and coatings are widely used in several end-use industries such as construction, lumber, automotive, and transportation . Usually various solvents, pigments and binders are mixed into paints and other coatings such as varnishes, enamels, lacquers, shellacs and water repellent coatings to produce products such as paint, putty, varnish removers, frit and brush cleaners. . Paints and coatings are water resistant.
They offer protection against corrosion and have anti-hardness, anti-friction and glare-absorbing properties. The applications of polycarbonate diols in elastomers, coatings, adhesives and sealants are many and varied. The increase in the use of polycarbonate diols in elastomers is expected to drive the global polycarbonate diols market during the forecast period. Elastomers are used as gaskets and adhesives, and molded parts.
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They are used in several applications such as vehicle manufacturing, chemical processes, food production and scientific products. Elastomers are used to make tires and inner tubes for motorcycles, bicycles, recreational vehicles, lawn mowers, and other yard work vehicles. They are used in the manufacture of hoses, belts, gloves, toy balls, adhesives and rubber bands.
Polycarbonate diols are premium polyester polyols. Polycarbonate diols offer improved impact resistance, hardness, hydrolytic stability and chemical resistance over those offered by standard polyester polyols.
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Rising health and environmental concerns
Polycarbonate diols are used in a variety of applications such as manufacturing synthetic leather, paints and coatings, adhesives and sealants, and elastomers. They have high strength and offer resistance to water, fire, temperature and corrosion. However, the high cost associated with polycarbonate diols compared to conventional polyols is expected to hamper the polycarbonate diols market during the forecast period. The main trend in the polycarbonate diols market is government regulation of environmentally friendly chemicals. These factors are hampering the polycarbonate diols market.
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