ALIPHATIC POLYKETONE MARKET ANALYSIS

 Global Aliphatic Polyketone Market was valued at US$ 131.4Mn in 2022, exhibiting a CAGR of 9.0% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 262.5 Mn by 2030. Aliphatic polyketones are a new class of engineering thermoplastics, which can be used for various applications such as automotive, consumer electronics etc. The polymers have perfectly alternating structures made of carbon monoxides and alpha olefins such as ethylene.

Covid-19 Impact on  Global Aliphatic Polyketone Market

Aliphatic polyketone demand was impacted by a pause in manufacturing activity in the first quarter of 2020, although Coherent Market Insights predicts that demand will increase in 2021. Since its introduction in the middle of 2015, aliphatic polyketone has had difficulty breaking into the market since it must pass a number of performance tests before manufacturers can accept it. Over the past two years, aliphatic polyketone demand has increased dramatically. The pandemic-related suspension of production operations has given various sectors the chance to test these new generation polymers, which has favorably influenced the growth of the worldwide aliphatic polyketone market.

 Global Aliphatic Polyketone Market- Drivers

• Polyketone is used for technical components in mechanical engineering and in the automotive industry

Polyketone is used for technical components in mechanical engineering and in the automotive industry, e.g. as a fuel line. The material is also used in the electronic/electrical industry, for example in housings or switches. In the mechanical engineering and automotive industries, polyketone is used for technical components like fuel lines. The substance is also utilized in the electrical and electronic industries, such as in housings and switches. In contrast to other semi-crystalline polymers, polyketone exhibits very minimal moisture absorption and has very good flexibility.

Figure 1. Global Aliphatic Polyketone Market, By Application, 2022 

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• Owing to their excellent mechanical properties, thermoplastic polyketones

Owing to their excellent mechanical properties, thermoplastic polyketones have found diverse industrial applications ranging from fibers, fire-retardant materials, and film coatings to membranes, packaging materials, and adhesives. Synergists like SIL and ZB were employed to achieve the same and improved flame retardancy qualities while minimizing the degradation in mechanical and impact capabilities. The cone calorimeter test, measurement, and limiting oxygen index (LOI) test were used to assess the flame retardancy of  Pakistan-Occupied-Kashmir-based composites.

Global Aliphatic Polyketone Market- Restraints

Availability of alternatives

Availability of other engineering thermoplastics such as polyamides, polyacetals, polyesters, polycarbonates, and others are more economical compared to aliphatic polyketones and this is expected to hamper the market growth of aliphatic polyketone over the forecast period. Moreover, aliphatic polyketone resins are new in engineering plastics, and there is a limited supply of these resins, owing to which end users and processors are reluctant to use aliphatic polyketones over other engineering thermoplastics.

 Global Aliphatic Polyketone Market- Segmentation

On the basis of application in 2022, the industrial segment has accounted for the largest market share of 36% in terms of value. End users are using aliphatic polyketone for manufacturing industrial components, owing to the various advantages of aliphatic polyketone. This is expected to drive demand for aliphatic polyketone during the forecast period. For instance, Zipperle Antriebstechnik GmbH (Germany-based manufacturer of gears, sprockets, pulleys, and others, made from plastics and zinc-die cast) is using aliphatic polyketone for manufacturing highly wear-resistant gear for machine building and precision mechanics industries. The company has added cylindrical gears and bevel gears made of aliphatic polyketone to its product line-up.

Figure 2. Global Aliphatic Polyketone Market, By Region, 2022

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 Global Aliphatic Polyketone Market- Opportunities

Manufacturers are focusing on gradually expanding application

Manufacturers are focusing on gradually expanding application of aliphatic polyketone in everyday commodities such as food trays, golf tees, and other leisure products. For instance, in 2019, Hyosung Chemical, in partnership with EGS (a start-up company based in South Korea), launched eco-friendly food trays made with aliphatic polyketone. The food tray has excellent solidity and wears resistance compared to existing plastic products.

 Global Aliphatic Polyketone Market- Trends

Rising demand for eco-friendly products from end users and consumers

There is a rising demand for eco-friendly products from end users and consumers, in order to reduce their carbon footprint. Hyosung Corporation is focusing on developing eco-friendly applications of aliphatic polyketone, in order to strengthen its position in the market. Moreover, the company gained an eco-friendly green certificate from the Ministry of Environment, South Korea, in 2016, in recognition of eco-friendliness of aliphatic polyketone.

 Global Aliphatic Polyketone Market- Regional Insights

Asia Pacific held a dominant position in the global aliphatic polyketone market in 2022, accounting for 78% market share in terms of revenue, followed by North America and Europe. Hyosung Corporation, which is currently the only manufacturer of aliphatic polyketone based in South Korea has a strong presence in China, India, and Japan.

 Global Aliphatic Polyketone Market- Key Developments

• In 2019, Hyosung Chemical and Samsung Measuring took part in IFAT India 2019- a trade fair for water, sewer, waste, and recycling technologies held in Mumbai, India, from October 15 to 18 and VIET Water 2019, a water industry trade fair held in Hanoi, Vietnam.
• In September 2019, the Hyosung Corporation launched eco-friendly food trays manufactured using aliphatic polyketone. The product has now received approval from the U.S. FDA (Food and Drug Administration). Hyosung Corporation is a South Korean industrial chaebol, founded in 1966. It operates in various fields, including the chemical industry, industrial machinery, IT, trade, and construction. It is known in Korea mostly for high-end apartments and automatic teller machines. Its CEO is Hyun-joon Cho.

 Global Aliphatic Polyketone Market- Key Players

Currently there is only one manufacturer of aliphatic polyketone i.e. Hyosung Corporation

*Definition: The aliphatic polyketone market refers to the global market for a class of engineering thermoplastics that have perfectly alternating structures made of carbon monoxides and alpha olefins, such as ethylene. These polymers offer attractive properties such as toughness, chemical resistance, and good mechanical properties