UBE Industries Ltd. (Japan) and Mitsubishi Chemical Corporation (Japan) are Leading Players in the Polycarbonate Diols Market
The global polycarbonate diols market is projected to grow from USD 249 Million in 2022 to USD 328 Million by 2027, at a CAGR of 5.7% during the forecast period. The major driving factors for the growth of the polycarbonate diols market are the rising demand for the high performance polyurethane in several end-use industries such as synthetic leathers, paints & coatings, adhesives & sealants, and elastomers, among others.
Polycarbonate diols have excellent hydrolytic stability & low water absorption, high oil & chemical resistance, weather ability, UV resistance, superior mechanical properties, excellent durability, enhanced gloss retention, and exceptional stability, among others. The synthetic leather segment is the largest and the fastest-growing application of Polycarbonate diols market. Increasing use of synthetic leather in automotive, textiles, footwear, and bags, among other applications, will drive market growth.
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The polycarbonate diols market is consolidated in nature with key players being 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. These players adopted acquisitions, new product launch, and agreements as key growth strategies between 2018 to 2021, which helped them to increase their capacities and cater to the widening customer base.
UBE Industries, Ltd. is engaged in the manufacturing and sales of chemicals, materials, machinery, and related products. The company operates its business through five segments: chemicals, construction materials, machinery, pharmaceuticals, and energy & environment. It has three production facilities located in Japan, Spain, and Thailand, and their combined production capacity is 18,000 tons/year. It offers polycarbonate diols under the trademark ETERNACOLL.
Mitsubishi Chemical Corporation is a subsidiary of Mitsubishi Chemical Holdings, which was formed through the merger of Mitsubishi Chemical Corporation, Mitsubishi Plastics, Inc., and Mitsubishi Rayon Co., Ltd. in April 2017. The company operates its business through various segments: performance products, industrial gases, chemicals, healthcare, and others. It offers plant-based polycarbonate diols with the trademark BENEBiOL, under the performance products segment. It has 1,000 tons/year production capacity of polycarbonate diols.
Asahi Kasei Corporation is involved in the manufacturing and sales of chemicals, construction materials, fibers, and electronics, among others. The company operates its business through three segments; materials, homes, and healthcare. It offers polycarbonate diols under the trademark DURANOL. The company offers several grades of polycarbonate diols in solid or liquid form for a variety of applications, such as paints & coatings, leather, elastomers, and adhesives.
The companies have initiated the following developments:
- In July 2019, UBE Corporation announced to double its production capacity at its Thailand facility expected to start in July 2020.
- In January 2018, UBE Corporation Europe started the development of polyurethane based on polycarbonate diols in collaboration with Tecno Caucho Rolls & Covers (Spain). The European Regional Development Fund funded the project
- In November 2018, Toray Industries, Inc. (Japan) started to use Mitsubishi Chemical Corporation’s bio-based polycarbonate diol for the production of an eco-friendly, suede textured, and non-woven material named "Ultrasuede BX."
- In May 2018, Velox GmbH (Germany), a long term distributor of Asahi Kasei Corporation, announced that it would distribute polycarbonate diols, Duranol W8011, in Europe.
Related Reports:
Polycarbonate Diols Market by Form (Solid, Liquid), Molecular Weight (g/mol) (<1,000, 1,000 – below 2,000, 2,000 & Above), Application (Synthetic Leather, Paints & Coatings, Adhesives & Sealants, Elastomers) and Region - Global Forecast to 2027
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