Aliphatic polycarbonate diols are premium polyester polyols used in the production of high-quality polyurethanes. When compared with standard polyester polyols, polycarbonate diols provide impact resistance, hardness, enhanced hydrolytic stability, and chemical resistance. These polyols were discovered a long time ago; however, over the last few years, they attract significant attention in biomedical applications, which has helped market growth.
The global aliphatic polycarbonate diols market is predominantly driven by extensive application in paint and coating industries, owing to the properties of these compounds and their low cost. Polycarbonate diols provide significantly enhanced hydrolytic stability, impact resistance, hardness, and chemical resistance in polyurethane elastomers. Polycarbonate-polyurethane elastomers have excellent resistance to oils and fuels, UV resistance, and better abrasion resistance and tensile strength as compared to polyether-based polyurethane elastomers. Thus, the increasing demand for superior alternatives for plastics, steel, and rubber fuel market growth globally.
Additionally, the development of polymerization techniques has overcome hurdles in preparing high molecular weight aliphatic polycarbonates, and increasing applications in the biomedical sector have affected market growth positively.
The global aliphatic polycarbonate diols market was valued at USD 60.53 million in 2018 and is expected to reach at a value of USD 80.95 million at a CAGR of 3.7% during the forecast period, 2019–2026.
The global aliphatic polycarbonate diols market is segmented by type and application.
On the basis of type, the aliphatic polycarbonate diols market is segmented into the solid and liquid. The solid segment is likely to hold a major market share during the forecast period, owing to the superior properties of solid product, such as high chemical resistance, excellent hydrolytic stability, high thermal stability, and exceptional mechanical properties.
On the basis of application, the aliphatic polycarbonate diols market is segmented into polyurethane elastomers, polyurethane adhesives, and polyurethane coating. The polyurethane coating segment is expected to account for a major market share during the forecast period. Polyurethane coatings are usually used for the synthesis of urethane resin, acrylic resin, polyester resin, and other materials used in consumer electronics.
Geographically, the global aliphatic polycarbonate diols market is segmented into North America, Europe, Asia Pacific, and the Latin America and the Middle East & Africa (LAMEA).
Asia Pacific is expected to dominate the global aliphatic polycarbonate diols market owing to low production cost, increasing production in developing countries, increasing applications in various sectors, and growing government support. Additionally, the strong presence of manufacturers in this region further supports market growth.
Europe is likely to be the second largest and fast-growing aliphatic polycarbonate diols market due to the favorable reimbursement scenario, increasing demand for better materials, and availability of funds for research & development. European countries spend significant capital on advanced technologies. During the last few years, improvement in the standard of living and increasing demand for engraved glasses have been fueling market growth in Europe.
The North America aliphatic polycarbonate diols market is expected to register steady growth. The presence of leading players, increasing demand for cheaper alternatives, and the availability of investments are among the key factors driving market growth in the region. On the flip side, in the last few years, changing government policies and safety issues related to aliphatic polycarbonate diols have disrupted market growth in North America.
The Latin America and the Middle East & Africa region is likely to account for the least market share, owing to poor healthcare infrastructure, limited availability of funds, and low spending on R&D, especially in African countries. The Middle East is a prominent contributor to aliphatic polycarbonate diols market growth, and, in the near future, the region is expected to witness sound growth with players exploiting untapped opportunities.
Some of the key players in the global aliphatic polycarbonate diols market are Asahi Kasei Corporation (Japan), BASF SE (Germany), Caffaro Industries SPA (Italy), Covestro AG (Germany), Cromogenia Units S.A. (Spain), Mitsubishi Chemical Holding Corporation (Japan), The Perstorp Group (Sweden), Saudi Arabian Oil Co. (Saudi Arabia), Tosoh Corporation (Japan), UBE Industries Ltd. (Japan), and others.