Market Overview:
Aliphatic polyketones are a class of engineering plastics characterized by high strength, heat, and chemical resistance. They find wide application in pipes, cables, films, and barrier packaging due to their excellent barrier properties against moisture, gases, and solvents.
Market key trends:
One of the key trends witnessed in the global aliphatic polyketone market is the growing demand for lightweight and high-performance plastics from the automotive industry. Aliphatic polyketones meet the stringent requirements of the automotive industry regarding enhanced fuel efficiency, durability, and recyclability. Their excellent mechanical and chemical resistance properties make them suitable for under-the-hood applications such as air intake manifolds.
Segment Analysis
The global Aliphatic Polyketone market is segmented by product type into polyether ketone (PEK) and polyetherether ketone (PEEK). Among these, the PEEK segment held the largest market share in 2022 and is expected to continue its dominance over the forecast period. PEEK exhibits beneficial properties such as high strength, chemical resistance, and temperature tolerance. It is widely used in various medical devices, aerospace components, and automotive parts requiring high durability and performance.
Key Takeaways
The global Aliphatic Polyketone Market Demand size is expected to reach US$ 231.4Mn by 2030, expanding at a CAGR of 9.0% during the forecast period. Rapid growth can be attributed to the increasing demand for lightweight and high-performance polymers from end-use industries.
Regional Analysis
Regionally, North America held the largest share of the overall Aliphatic Polyketone market in 2022. The region is expected to continue dominating owing to high demand from the medical devices industry and increasing investments in aerospace and defense sectors in the US and Canada. Asia Pacific is anticipated to register the fastest growth over 2023-2030 with China and India emerging as lucrative markets.
Key Players
Key players operating in the Aliphatic Polyketone market are Hyosung Corporation, PolyOne Corporation, Rchling Group, Celanese Corporation, Evonik Industries AG, and Victrex plc. Hyosung Corporation held a dominant market share in 2022 attributed to its wide product portfolio and extensive global distribution network.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
