Aliphatic Polyketone Market is Anticipated to Witness High Growth Owing to Rising Demand from Automotive Industry

Aliphatic Polyketone Market is Anticipated to Witness High Growth Owing to Rising Demand from Automotive Industry

 Aliphatic polyketones find widespread usage in automotive, aerospace, and medical industries due to their toughness, flexibility, and heat resistance properties. They are increasingly used to manufacture components such as seals, hoses, and valves that are placed under demanding operating conditions in vehicles. The growing automotive production across the world coupled with the trend of weight reduction of vehicle parts is fuelling the demand for aliphatic polyketones.

The global aliphatic polyketone market is estimated to be valued at US$ 165.01 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the aliphatic polyketone market are Continental, Daimler, Delphi Automotive, Bosch, Denso, Itseez, Toshiba, Mobileye, ZF Friedrichshafen, Magna International. Continental, Daimler, and Bosch are the top players and account for over 30% share of the market.

The market offers several growth opportunities such as expanding application scope into industries like food processing and developing bio-based aliphatic polyketones. Leading manufacturers are investing in R&D to introduce novel high-performance grades of aliphatic polyketones to strengthen their product portfolio.

Globally, the market is dominated by Asia Pacific and Europe due to large automotive manufacturing bases in countries like China, India, Germany, and UK. However, North America is witnessing rapid gains on account of strong rebound in vehicle sales after pandemic lull. Key players have upscaled production capacities in Mexico and Canada to increase global market share.

Market drivers such as increasing automotive production, growing emphasis on lightweight materials, and superior properties of aliphatic polyketones are fueling market growth. However, high raw material prices remain a major restraint. Fluctuations in prices of crude oil which is a key petrochemical feedstock can negatively impact the costs of aliphatic polyketone production.

Market Drivers

The rising automotive production globally is one of the key factors driving the growth of the aliphatic polyketone market. Various properties like high heat resistance, chemical resistance, and toughness have increased the use of Aliphatic Polyketone Market Size for producing engine components that function under extreme conditions. The increasing focus on reducing vehicle weight to improve fuel efficiency is also propelling the demand for lightweight aliphatic polyketones.

Market Restraints

Volatility in crude oil prices remains a key challenge for market players as the prices of raw materials for aliphatic polyketone production are dependent on crude oil. Sudden price hikes can negatively impact the overall production costs. Additionally, high raw material prices increase the end product prices as well, limiting sales potential. This acts as a major restraint for the aliphatic polyketone market.

Segment Analysis

The aliphatic polyketone market is dominated by the polymers and resins sub-segment. Aliphatic polyketones are primarily used to manufacture polymers and resins due to their flame retardant and durable properties. Polymers and resins account for nearly 60% of the overall aliphatic polyketone market share. They find widespread application in the automotive and electronics industries for manufacturing automotive components and electrical parts respectively.

The pipes and fittings sub-segment is another major revenue generating segment in the aliphatic polyketone market. High resistance to corrosion and chemicals makes aliphatic polyketones an ideal material for manufacturing pipes, tubes, and fittings. They are being increasingly used for transporting chemicals and freshwater. The pipes and fittings segment holds a share of around 25% in the global market currently.

Global Analysis

The Asia Pacific region holds the largest share in the global aliphatic polyketone market and is expected to witness the highest growth during the forecast period. Countries like China, India, and Japan are major manufacturing hubs for automotive and electronics industries which provides a constant demand for aliphatic polyketones as plastic replacements. Europe is another prominent regional market attributed to presence of leading automotive giants in Germany. Stringent environmental regulations regarding limiting toxic emissions is driving higher adoption of bio-based and eco-friendly materials like aliphatic polyketones in the region.

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