PUBLISHER: Grand View Research | PRODUCT CODE: 1474975
PUBLISHER: Grand View Research | PRODUCT CODE: 1474975
The global polycarbonate diols market size is anticipated to reach USD 388.85 million by 2030, registering a CAGR of 5.4% during the forecast period, according to a new report by Grand View Research, Inc. Increased utilization of polycarbonates in the automotive, building & construction, and electrical & electronics industries is expected to drive product demand. Moreover, the increasing population in emerging economies, such as India and China, and the ongoing industrialization and urbanization have led governments of different countries to increase their construction spending to meet the infrastructure requirements. This, in turn, is anticipated to fuel product demand as they are used in building & construction applications.
The presence of stringent regulations regarding the recyclability of polycarbonate and the depletion of conventional materials, such as wood and metals, is expected to drive product usage in the development of floorings, pipes, windows, insulation, cables, and storage tanks used in the construction industry. Key companies are adopting several organic and inorganic growth strategies, such as new product development, mergers & acquisitions, and joint ventures, to maintain and enhance their industry share. In July 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.