Polycarbonate Diols Market Regional Analysis:
APAC Market Statistics
The Asia Pacific polycarbonate diols market is set to dominate 47% share by the end of 2035. The market growth is impelled by prominent presence of several end-users who use polycarbonate diols for the manufacturing of different end-use products. Moreover, the presence of nations, such as China and India, who are also the largest consumers of polycarbonate diols in the region, is anticipated to drive the market growth.
Korea, on the other hand, accounted for the largest exporter of polycarbonates globally. According to the trade statistics of the International Trade Centre, China accounted for the largest share of 34.42% globally for the imports of polycarbonates in the year 2019, whereas the Republic of Korea recorded a share of 14.15% globally for the exports of polycarbonates the same year.
North American Market Forecast
The North American polycarbonate diols market is predicted to hold over 22% share during the forecast period. The market growth is led by rise in the high adoption of sophisticated technologies, as well as the existence of significant players, which are projected to provide ample prospects for market growth in the region. In addition, the surge in construction activities where the utilization of waterborne coatings has been increasing is estimated to push the market revenue.
Europe Market Forecast
The market in the Europe region is poised to grow at moderate CAGR till 2035. The market growth can be credited to significant expanding investment in the chemical industry, along with the remarkably growing demand for vehicle interiors as of the surge in automobile production in the region. Moreover, the rising production of automotive elastomers is projected to further drive the market growth of polycarbonate diols as these elastomers are highly utilized in the manufacturing of tires, automotive seals, and gaskets.
