Aliphatic polyketones, commonly known as AK, are a class of engineering thermoplastics having high strength, stiffness, toughness and fatigue resistance along with excellent chemical resistance properties. AK materials are increasingly being utilized to manufacture various components for automobiles and aircrafts owing to their outstanding mechanical properties and ability to withstand harsh operating conditions.
The global Aliphatic Polyketone Market is estimated to be valued at US$ 143.23 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for AK materials is being driven by its emerging applications in automotive and aerospace industries. AK plastics can replace metallic components in vehicles and aircrafts, helping to reduce weight and improve fuel efficiency. They possess properties such as fatigue and impact resistance making them ideal for under-the-hood applications in cars including brake lines and cooling system parts. In the aerospace sector, AK is used to manufacture structural components experience high loads and vibrations. Ongoing research aims to develop novel AK grades with enhanced thermal and chemical resistance for catering to diversifying end-use requirements.
SWOT Analysis
Strength: Aliphatic polyketone has high tensile strength and modulus along with good resistance to chemicals and solvents. It also has superior stiffness and toughness.
Weakness: High production cost of aliphatic polyketone limits its applications. Thermal stability of aliphatic polyketone is relatively low compared to other polymers.
Opportunity: Growing demand from medical device industry for high strength polymers with good biocompatibility offers opportunities for aliphatic polyketone market. Increasing applications in automotive and aerospace industries also presents opportunities.
Threats: Availability of alternative polymers like polyether ether ketone (PEEK) poses threats. Fluctuations in raw material prices can also threaten market growth.
Key Takeaways
The Global Aliphatic Polyketone Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Its demand is growing rapidly across industries like medical devices, automotive and aerospace due to properties like high strength and durability.
Regional analysis
North America is currently the largest and fastest growing regional market for aliphatic polyketone owing to extensive applications in medical devices industry. The medical device sector in the U.S. and Canada is highly developed and spends heavily on R&D for new biomaterials. Europe is another major consumer due to strong automotive industry in countries like Germany. Asia Pacific market is expected to grow at highest CAGR during the forecast period with China and India being major revenue generators. Expanding manufacturing sector and increasing health expenditure are driving market growth in the region.
Key players
Key players operating in the aliphatic polyketone market are Becton, Dickinson and Company, Lohmann & Rauscher, Komal Health Care Pvt. Ltd., Paul Hartmann AG, DeRoyal Industries Inc., Tytex, Shandong Dermcosy Medical Co., Ltd., Smith & Nephew plc, Dynarex Corporation, Talent Healthcare, 3M and Datt Mediproducts Pvt. Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it