Polycarbonate Diols: An Overview
Polycarbonate diols are a class of diols that are
characterized by their high thermal stability, excellent mechanical properties,
and superior chemical resistance. They are commonly used as building blocks for
polyurethane (PU) coatings, adhesives, and elastomers, among other
applications.
Polycarbonate diols are typically synthesized by the
reaction of a diol with a carbonate precursor, such as phosgene or dimethyl
carbonate, in the presence of a catalyst. The resulting polymer has a linear
structure with alternating carbonate and diol units, giving it a unique
combination of properties.
One of the main advantages of polycarbonate diols is their
high thermal stability, which makes them suitable for use in high-temperature
applications. They also exhibit excellent mechanical properties, including high
tensile strength and good impact resistance. In addition, polycarbonate diols
are highly resistant to chemical degradation, making them ideal for use in
harsh chemical environments.
Polycarbonate diols are commonly used in the production of
PU coatings, which are widely used in the automotive, construction, and
furniture industries. PU coatings based on polycarbonate diols offer excellent
weather resistance, good adhesion, and superior chemical resistance, making
them ideal for use in outdoor applications.
In addition to coatings, polycarbonate diols are also used
in the production of adhesives and elastomers. PU adhesives based on
polycarbonate diols offer excellent adhesion to a wide range of substrates,
including metals, plastics, and composites. PU elastomers based on
polycarbonate diols exhibit high tensile strength, good elongation, and
excellent fatigue resistance.
Market Dynamics of Polycarbonate Diols
Drivers in
Polycarbonate Diols Market
One of the major driving factors of the polycarbonate diols
market is the growth in demand for water-based polyurethane systems. This is
due to the rising consumer awareness of the harmful effects of hazardous air
pollutants (HAPs). Nowadays, polyurethane dispersions with very low or zero
volatile organic compounds (VOCs) are available in a wide range of hardness and
solid content. Additionally, several industries prefer water-based over
solvent-based polyurethane systems due to their versatility and superior
properties. Governments in developed and developing economies have developed
stringent regulations pertaining to the use of solvent-based polyurethane
systems, which is expected to drive the solvent-free polyurethane dispersions
market. Countries such as the US, China, and European countries are keeping VOCs
below 350 g/l to promote environmental consciousness.
Restraints in
Polycarbonate Diols Market
On the other hand, the cost of polycarbonate diols is higher
than conventional polyether and polyester polyols. This is mainly due to the
higher costs of production of polycarbonate diols. While polycarbonate diols
are used to impart several properties in polyurethane, such as high hydrolysis
resistance, heat resistance, and wear resistance, among others, the high cost
is a significant restraining factor for the polycarbonate diols market. Unless
there is a demand for high-performance PU products, polyurethane manufacturers
are not using these polyols. Therefore, the high cost of polycarbonate diols is
a major challenge in the growth of the market.
Opportunity for
Polycarbonate Diols Market: Government Regulation for Eco-Friendly Chemicals
Governments are taking steps to regulate the use of
eco-friendly chemicals in the specialty chemical industry. China's Ministry of
Ecology and Environment has recently imposed stringent regulations similar to
REACH, which has resulted in a significant increase in the demand for
eco-friendly chemicals in China. In addition, European and North American
countries have banned the consumption of solvent-based polyurethane systems and
encouraged the use of water-based polyurethane systems. The REACH and
Environmental Protection Agency (EPA) are continuously assessing the amount of
volatile organic compounds (VOCs) released from various industries, including
paints & coatings, leather, and textiles. Major manufacturers present in
North America and Europe strictly follow VOC regulations. These regulations
provide new opportunities for the growth of eco-friendly chemicals and expand
the market spectrum, making it a great opportunity for players in the
polycarbonate diols market.
Manufacturers in the polycarbonate diols market are finding
opportunities in formulating polyurethane coatings that can resist extreme
environmental conditions while ensuring durable high performance. SpecialChem,
a provider of chemical materials and related market products, has developed a
strong portfolio in polycarbonate diols for durable polyurethane coatings, such
as ETERNACOLL® polycarbonate diols, which provide extreme durability to the
final polymer.
End-users are also showing a preference for customizable
possibilities with polycarbonate diols. Manufacturers are developing compounds
that can deploy better gloss retention, abrasion resistance, and water
resistance, among others. Polycarbonate diols and polycarbonate-based
polyurethane prepolymers are being advertised for achieving excellent water
resistance through polyurethane coatings. Manufacturers are increasing their
efforts to develop polyurethane coatings with polycarbonate diols that have the
potential to withstand extreme humid conditions. These efforts will help the
polycarbonate diols market to grow in the future.
Challenges in
Polycarbonate Diols Market
One of the significant challenges faced by polyurethane
manufacturers is to offer high-performance polyurethane at affordable prices to
end-users in a competitive environment. The cost of polycarbonate diols is much
higher than conventional polyols, which results in the final product's higher
value. To overcome this cost constraint, several polyurethane manufacturers are
blending polycarbonate diols with polyester polyols to create tailor-made
polyurethane for specific applications.
Among all the applications in the polycarbonate diols
market, synthetic leather is expected to dominate the highest revenue share.
Polycarbonate diols are used to make leather soft and tough, and the growing
fashion and apparel industry has increased the demand for leather jackets,
shoes, and other accessories. However, manufacturers often face the challenge
of balancing stain resistance to creams and beverages while maintaining the
supple feel and flexibility of the leather material. These findings have
resulted in revenue opportunities for manufacturers in the polycarbonate diols
market.
Polycarbonate diols are used in various applications, such
as the manufacture of synthetic leather, paints and coatings, adhesives and
sealants, and elastomers. They provide high strength and resistance against
water, fire, temperature, and corrosion. However, they contain bisphenol, which
is an ecologically harmful compound that can cause severe health effects on the
prostate glands and brain of infants. Additionally, bisphenol disrupts normal
hormone levels in human beings and can also cause cancer.
Polycarbonate diols provide softness and flexibility to
leather finishes and artificial leather coatings. Moreover, they make
polyurethane coatings highly resistant to UV rays, heat, chemicals, and water,
making the leather material more durable. The major challenge in the
polycarbonate diols market is to control the prices of the final products to
ensure affordability while maintaining high-performance standards.
Ecosystem of Polycarbonate Diols Market
The polycarbonate diols market's ecosystem is composed of
different factors affecting its growth and development. One such factor is the
form in which polycarbonate diols are used. According to projections, solid
polycarbonate diols will be the fastest-growing segment during the forecast
period. This is because solid polycarbonate diols offer high resistance to
hydrolysis, oxidation, stain, and wear in polyurethane products compared to
other forms like polyether and polyester polyols. The increasing demand for
high-performance synthetic leathers is driving the growth of the solid polycarbonate
diols market segment.
Another significant factor affecting the polycarbonate diols
market is its application. The biggest and fastest-growing application in the
polycarbonate diols market is synthetic leather. The shift in the market from
natural to synthetic leather is driven by factors such as the supply of raw
materials, growing environmental concerns, animal protection, and changes in
consumer demand. This has led to a growing demand for high-quality, functional
polyurethane from artificial leather manufacturers across the globe.
The Asia Pacific region is estimated to account for the
biggest market share in the polycarbonate diols market during the forecast
period. The shift of manufacturing bases from developed economies to developing
regions, like the APAC, post the global recession in 2008, has resulted in
healthy growth in terms of production for the APAC industrial sector. This
growth is driving the demand for the polyurethane market, which, in turn,
supports the growth of the polycarbonate diols market.
Polycarbonate diols have become increasingly popular in the
market for their exceptional hydrolysis resistance, high gloss, and abrasion
resistance, making them a preferred choice for metal coatings. Paints &
coatings are projected to be the second highest revenue generating application
in the polycarbonate diols market due to their ability to offer efficient stain
resistance and enhanced performance in wood and leather coatings for flooring,
outdoor furniture, and pavement coatings. To this end, polyurethanes produced
with polycarbonate diols offer superior properties compared to those made from
polyether diol and polyester diol. These include flexibility, high chemical
resistance, softness, and high mechanical properties in coatings. Furthermore,
polyurethane resins derived from polycarbonate diols exhibit excellent
hydrolysis resistance, chemical resistance, abrasion resistance, and heat
resistance, among others. Such high-performance polyurethane resins are highly
desirable in the production of synthetic or natural leather as they help
enhance durability and stain resistance. Therefore, the demand for synthetic
leather is expected to drive the polycarbonate diols market during the forecast
period. Synthetic leather is water-resistant, soft, fire-resistant,
stain-resistant, and highly resistant to abrasions and cuts, making it more
durable and a preferred choice for various products.
Dominating Companies in Polycarbonate Diols Market
- UBE INDUSTRIES, LTD.
- MITSUBISHI CHEMICAL CORPORATION
- ASAHI KASEI CORPORATION
- COVESTRO AG
- TOSOH CORPORATION
- DAICEL CORPORATION
- PERSTORP GROUP
- SAUDI ARABIAN OIL COMPANY
- GRR FINE CHEM PVT. LTD.
- CHEMWILL ASIA CO. LTD.
- CAFFARO INDUSTRIE SPA
- CROMOGENIA UNITS S. A.
- GUANGDONG DAZHI ENVIRONMENTAL PROTECTION TECHNOLOGY
INCORPORATED COMPANY
- HUBEI JUSHENG TECHNOLOGY CO., LTD.
- KURARAY CO., LTD.
- JIANGSU CHEMICAL INDUSTRY RESEARCH INSTITUTES CO. LTD.
- SUMITOMO BAKELITE CO., LTD.
- QINGDAO HUAYUAN POLYMER CO., LTD.
- ERCA ADVANCED POLYMER SOLUTIONS SRL
- MERCK KGAA
Recent Developments in Polycarbonate Diols Market
In 2020, UBE Industries Ltd., a leading chemical company
based in Japan, acquired the polycarbonate diols business of DOMO Chemicals.
This acquisition aimed to expand UBE's product offerings and strengthen its
position in the global polycarbonate diols market.
In 2019, Covestro, a leading producer of high-performance
polymers, acquired the Resins & Functional Materials business of DSM,
including its polycarbonate diols portfolio. This acquisition allowed Covestro
to expand its product range and strengthen its position in the coatings,
adhesives, and specialty chemicals markets.
In 2018, Asahi Kasei Corporation, a leading chemical company
based in Japan, formed a strategic partnership with Sinopec, a Chinese
petrochemical company, to produce and market polycarbonate diols in China. This
partnership aimed to leverage the strengths of both companies and capitalize on
the growing demand for high-performance polymers in China.
Also in 2018, Perstorp Holding AB, a specialty chemicals
company based in Sweden, acquired Polialcoli Srl, an Italian producer of
specialty polyols, including polycarbonate diols. This acquisition aimed to
strengthen Perstorp's position in the polyurethane market and expand its
product offerings to customers.
In 2021, UBE Industries, a Japanese chemical company,
announced a partnership with Thailand's PTT Global Chemical Public Company to
expand the production of polycarbonate diols in Asia. The partnership aims to
meet the increasing demand for high-performance polyurethane products in the
automotive and electronics industries.
In 2020, Covestro, a German-based materials manufacturer,
acquired DSM's Resins & Functional Materials business. The acquisition
included DSM's polycarbonate diol product line, which complemented Covestro's
existing portfolio of polyurethane materials.
In 2019, Asahi Kasei Corporation, a Japanese chemical
company, acquired Sage Automotive Interiors, a global supplier of automotive
interior materials. The acquisition included Sage's polycarbonate diol product
line, which helped to strengthen Asahi Kasei's position in the automotive
market.
In 2018, Royal DSM, a Dutch-based materials manufacturer,
announced a partnership with Ascend Performance Materials, a US-based chemicals
company, to develop and produce high-performance materials for the automotive
and electronics industries. The partnership focused on the development of new
polycarbonate diols and other high-performance materials.
In conclusion, polycarbonate diols are a versatile class of
diols that offer a unique combination of properties, including high thermal
stability, excellent mechanical properties, and superior chemical resistance.
They are widely used in the production of PU coatings, adhesives, and
elastomers, among other applications, and are an important building block for a
wide range of high-performance materials.