Chicago, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Polycarbonate Diols Market size is expected to grow from USD 249 million in 2022 to USD 328 million by 2027 at a compound annual growth rate (CAGR) of 5.7% during the forecast period, according to a new report by MarketsandMarkets™. The main factor driving the polycarbonate diols industry during the forecast period includes the rising demand for high-performance polyurethane in the synthetic leather application. Also, rising demand for waterborne paints & coatings and stringent government regulations across the globe is providing momentum to the growth of the market.
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Browse in-depth TOC on “Polycarbonate Diols Market”
366 – Tables
44 – Figures
231– Pages
List of Key Players:
- Ube Industries Ltd. (Japan),
- Mitsubishi Chemical Corporation (Japan),
- Asahi Kasei Corporation (Japan),
- Covestro Ag (Germany),
- Tosoh Corporation (Japan),
- Daicel Corporation (Japan),
- Perstorp Group (Sweden),
- Saudi Arabian Oil Co. (Saudi Arabia),
- GRR Fine Chem Pvt. Ltd.(India), and
- Chemwill Asia Co. Ltd. (China), among others
Polycarbonate Diols Market Dynamics:
- Driver: Growth in demand for water-based polyurethane systems
- Restraint: Costlier than conventional polyols
- Opportunity: Government regulation encouraging the use of eco-friendly chemicals
- Challenges: Controlling prices to ensure affordability
Ever-increasing adoption of high-performance synthetic leather across the industry, a key to market growth
The natural leather industry has been affected by the supply of raw materials, growing environmental concerns, animal protection, and changes in consumer demand. Thus, a significant shift in the market from natural to synthetic leather is being witnessed across the globe.
The PU synthetic leather has enhanced Physico-chemical properties and is more akin to natural leather in terms of handling, texture, and appearance. With the increase in production of synthetic leather-based products and the structural upgrading of the industry, the demand for high-quality, functional polyurethane from synthetic leather manufacturers is growing steadily across the globe.
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The Asia Pacific to be the biggest market during the projection period.
Due to the low cost of production and tolerant regulation, APAC is a profitable market for “Global Industry Shift.” Since then, the Asia Pacific manufacturing sector had registered a healthy development from the perspective of production. This manufacturing sector growth helps to propel the demand for the polyurethane market, which in turn further promotes the growth of the polycarbonate diols market.
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