Global Polycarbonate Diol Market Size Will Reach $318.25 Million in 2024

Global Polycarbonate Diol Market Overview

According to Global Market Monitor, the global polycarbonate diol market size will reach $318.25 million in 2024 with a CAGR of 5.78% from 2024 to 2029.

Polycarbonate diols are premium polyester polyols. Compared to standard polyester polyols, polycarbonate diols provide significantly enhanced hydrolytic stability, impact resistance, hardness, and chemical resistance. Polycarbonate diols are commonly used in the synthesis of polyurethane resins, acrylic resins, polyester resins, and the like.

The Needs of the Leather Industry

The growth of the synthetic leather industry has been influenced by the availability of raw materials, increasing environmental concerns, protection of animals, and changing consumer demands. As a result, the world has witnessed a major shift in the market from natural leather to synthetic leather. PU synthetic leather has excellent physicochemical properties and more closely resembles natural leather in terms of treatment, texture, and appearance. Due to the performance benefits of synthetic leather, it has replaced natural leather not only in furniture, clothing, luggage, bags, and shoes but also in car seat interiors and upholstery. The demand for high-quality, functional polyurethanes from global synthetic leather manufacturers continues to grow as the production of synthetic leather products increases and the industry structure upgrades.

Polycarbonate diol systems are widely used in passenger car interior applications. The market is driven by the large volume of sales and production of passenger cars. The Asia Pacific polycarbonate diols market led the global industry in 2023. This growth is attributed to the rapid economic expansion, along with the growing industries, such as automotive, construction, and consumer goods. The growing demand for innovations that improve vehicle performance, comfort, and efficiency is pushing the development of polycarbonate diols systems, thus driving the market in the region. The presence of major automotive OEMs, including Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, and Isuzu, is expected to drive the automotive industry and the polycarbonate diols market.

Market News

In December 2023, the Mitsubishi Chemical Group announced the selection of their plant-derived polycarbonate diol, named BENEBiOL, for the interior finish coating at the Lawson Obihiro Nishi 21-Jo Minami 4-chome Store in Obihiro City, Hokkaido, Japan

In August 2023, the expansion of Polycarbonate Diol (PCD) production facilities at UBE Fine Chemicals (Asia) Co., Ltd., of UBE Corporation began operations. The expansion was announced in response to growing demand in the Asian region. The production capacity of the facility is expected to grow from 8,000 metric tons per year to 12,000 metric tons per year.

Company Name	Mitsubishi Chemical Corporation
Website	www.m-chemical.co.jp
Established Time	1934
Headquarter	Japan
Sales Region	Worldwide
Business Overview	Mitsubishi Chemical Corporation is a global chemical company producing a diverse range of products including plastics, fibers, chemicals, and electronic materials. They cater to various industries such as automotive, electronics, healthcare, and agriculture.

For more industry information, please refer to our latest released "2023 Global Polycarbonate Diol Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".