Aliphatic Polyketone Market Estimated to Witness High Growth due to Increasing Demand from Automotive Industry & Growing Packaging Industry Globally

Aliphatic Polyketone Market Estimated to Witness High Growth due to Increasing Demand from Automotive Industry & Growing Packaging Industry Globally

Market Overview:
Aliphatic polyketone is a semi-crystalline thermoplastic that exhibits high toughness, low coefficient of friction, high heat and chemical resistance. It is used in automotive, oil & gas, aerospace, packaging and consumer goods industries. In automotive industry, aliphatic polyketone is used for lightweight components like interior trims, bumpers and HVAC systems. It also finds application in food packaging like bottles, containers and films due to its excellent moisture barrier and chemical resistance properties.

Market Dynamics:
The Aliphatic Polyketone market is primarily driven by increasing demand from the automotive industry for lightweight materials to improve fuel efficiency. Stringent emission norms around the world are forcing automakers to focus on reducing vehicle weight to comply with regulatory standards. Aliphatic polyketone helps automakers to reduce vehicle weight significantly as it is 20% lighter than glass-filled nylon. Another driver for the market growth is expansion of the global packaging industry. The demand for sustainable and durable packaging from food & beverage and consumer goods industries is propelling use of aliphatic polyketone in applications like bottles, containers and films. Its high heat and chemical resistance properties makes it a preferred choice for packaging harsh chemicals and detergents.

Segment Analysis
The Aliphatic Polyketone Market Demand is segmented based on type and end use. Based on type, the market is segmented into PEK and PEKEK. Among these, the PEK segment dominates and holds around 60% market share owing to its excellent properties like resistance to chemicals and heat, high strength, and durability. The PEK segment finds applications in mechanical parts, electrical and electronics, automotive and transportation.

PEST Analysis
Political: Stringent regulations regarding use of plastics may hamper market growth. However, increasing investment by governments in automotive industry creates growth opportunities.
Economic: High growth of automotive industry especially in Asia Pacific boosts demand. Volatility in crude oil prices may impact prices of raw materials.
Technological: Development of lightweight and high-performance materials positive for the market. Ongoing R&D for development of bio-based polyketones can offer sustainable alternatives.

Social: Increasing disposable incomes and changing lifestyles drives demand for automobiles and electronics. Growing awareness regarding benefits of lightweight materials aid the market growth.

Key Takeaways
The global aliphatic polyketone market is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing demand from automotive and electronics industry. The automotive segment is a major consumer of aliphatic polyketone owing to properties like wear and chemical resistance, high strength-to-weight ratio that aid fuel efficiency.

Regional analysis: Asia Pacific dominates the market and holds around 40% share owing to presence of robust automotive industry in countries like China and India. The region witnesses fastest growth attributed to growing electronics market in the region.

Key players: Key players operating in the aliphatic polyketone market are Hyosung Corporation, Poly-Tech Industrial, Celanese Corporation, RTP Company, Schulman AG, and others. Hyosung Corporation is a leading player with wide product portfolio and global presence.

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