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Polycarbonate Diols Market to Offer Increased Growth Prospects for Manufacturers – TMR
Polycarbonate Diols Market: IntroductionThe global polycarbonate diols market was valued over US$ 200 Mn in 2020 and is expected to reach US$ 400 Mn by 2031, expanding at a CAGR of 5% during the forecast period of 2021 to 2031. Polycarbonate diols are resistant to oxidation, wear, and stains; they also provide resistance to hydrolysis in polyurethane products as compared to polyester polyols and polyether. Solid polycarbonate diols provide high strength, excellent mechanical properties, efficient performance, and high thermal stability when used at low temperature.
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The demand for polycarbonate is increasing across the globe primarily due to the rise in the demand for synthetic leather. Solid polycarbonates are also employed in various applications in diverse sectors such as waterborne paints & 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 resistant property of the material is adversely affected. Polycarbonate is added to improve the hydrolysis resistance of polyurethane materials. Consequently, polycarbonate diols can be used effectively in the production of waterborne polyurethane materials.
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The shutdown in various countries across the globe due to the COVID-19 pandemic has prohibited the import of various components, including raw materials required in the production of polycarbonate diols. This is hampering the activities of various industries. However, increase in the demand for synthetic leather during the pandemic is boosting the demand for polycarbonate diols. The COVID-19 outbreak has led to several challenges for synthetic leather and paints & coatings industries. Governments of countries in Europe are preparing for a broader spread of the virus. Germany and Italy are some of the significantly affected countries among the industrialized economies.
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The global synthetic leather industry was valued at US$ 31.4 Bn in 2020. Synthetic leather is a petroleum-based leather, which can be used as an alternative to genuine leather. Synthetic leather is soft and water resistant; hence, it can be used repeatedly simply by cleaning it. It is fire resistant and stain resistant. Synthetic leather is resistant to abrasions and cuts. Therefore, synthetic leather products are more durable. Synthetic leather is primarily employed in various end-use industries such as automotive, footwear, furnishing, clothing, purses, bags, and wallets.
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