Aliphatic polyketones or polyketones are a class of thermoplastic polymers with a linear backbone of carbon atoms connected alternately by double and single bonds. Aliphatic polyketones have high strength, wear resistance, toughness, durability and chemical resistance making it suitable for production of mechanical parts and components used in automotive, aerospace and other industrial applications.
The global Aliphatic Polyketone market is projected to exhibit a CAGR of 12% over the forecast period 2024 to 2031 and reach a value of US$ 165.01 billion by 2024.
Key players
Key player operating in the Aliphatic Polyketone market are Continental, Daimler, Delphi Automotive, Bosch, Denso, Itseez, Toshiba, Mobileye, ZF Friedrichshafen, Magna International. These players are investing heavily in research and development of advanced aliphatic polyketone formulations to manufacture robust and lightweight components for electric and autonomous vehicles. Aliphatic polyketone polymers are increasingly being used by automotive OEMs to manufacture structural and exterior parts like under-bonnets, chassis, brake calipers and suspension arms as they help reduce vehicle weight and improve fuel efficiency.
Growing demand from automotive industry is a key factor driving the growth of global Aliphatic Polyketone Market Sharet. Aliphatic polyketones polymers are replacing traditional materials like steel and aluminum in cars to make vehicles lighter. Their durability and strength makes them suitable for manufacturing parts and components in hybrid and electric vehicles. Technological advancements in aliphatic polyketone formulations have improved the impact strength and heat resistance of these polymers, increasing their usage in interior and exterior automotive applications.
Key Trends:
1) Development of long fiber reinforced aliphatic polyketone composites with enhanced mechanical properties for applications requiring high strength and stiffness.
2) Introduction of aliphatic polyketone polymer blends with other engineering thermoplastics to reduce production costs while maintaining performance.
Key Opportunities:
1) Use of aliphatic polyketones for 3D printing end use parts and components in automotive and aerospace sectors to reduce manufacturing costs.
2) Growing demand for aliphatic polyketones from electric vehicles market for manufacturing battery components and casings.
Impact of COVID-19 on Aliphatic Polyketone Market Growth
The outbreak of COVID-19 pandemic had a significant impact on the global Aliphatic Polyketone market growth. During the initial lockdowns imposed globally, the supply chains were disrupted resulting in shortage of raw materials. This led to decline in the production volumes across various end use industries including automotive, oil & gas, packaging etc. The demand from these end use industries also reduced substantially owing to shutdown of manufacturing facilities.
However, with relaxations in lockdown restrictions and resumption of industrial operations, the Aliphatic Polyketone market has started recovering gradually. Various countries implemented stimulus packages to boost their respective economies. Investments were made towards infrastructure development and boosting domestic manufacturing. This helped in reviving the demand. Initiatives were also taken up by market players for adopting safety protocols and implementing social distancing measures at their production sites. This enabled smooth functioning of operations while keeping health and safety of workers as priority.
Going forward, the market is expected to witness robust growth driven by increasing investments in development of sustainable and lightweight materials. Rising preference for high performance plastics in electronics, automotive and aerospace industries will accelerate the demand. adoption of Industry 4.0 technologies and automation will further aid production efficiency. Investments in R&D for developing bio-based and recyclable polyketone variants will boost sustainable production.
Geographical Regions with High Aliphatic Polyketone Market Concentration
Currently, North America accounts for the largest share in global Aliphatic Polyketone market in terms of value. This is majorly attributed to strong presence of automotive and packaging industries in countries such as US and Canada. Growing focus on lightweight materials and innovation are the key factors driving the polyketone demand. Europe is another major region due to large scale manufacturing hubs and stringent environmental regulations favoring sustainable plastics.
On the other hand, Asia Pacific region is identified as the fastest growing market for Aliphatic Polyketone. Rapid industrialization and urbanization in countries like China, India and South East Asian nations have increased the consumption. Robust growth of end use industries along with initiatives to enhance domestic production of high performance plastics will boost the APAC polyketone market in coming years.
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