by Aliphatic polyketones are high performance engineering thermoplastics known for its toughness, durability and resistance to heat and chemicals. They are increasingly being used to manufacture components in automotive, aerospace and medical industries owing to its properties. Aliphatic polyketones find widespread application in manufacturing under the hood components, interior and exterior automotive parts, lightweight structural components and more.
The Aliphatic polyketone Market is estimated to be valued at US$ 156.12 Mn in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031.
Market key trends:
One of the key trends driving growth in the Global Aliphatic polyketone Market Size And Trends is the increasing demand for lightweight materials from automotive industry. Automotive manufacturers are focusing on developing lightweight vehicles for improved fuel efficiency and performance. Aliphatic polyketones help reduce the weight of vehicles without compromising on strength thanks to their high strength-to-weight ratio. They are frequently used as an engineering plastic to replace heavier traditional materials like metals. Another factor fueling market growth is the increasing penetration of polyketones in medical devices applications. Properties like biocompatibility, chemical resistance and durability have resulted in wider adoption of aliphatic polyketones in manufacturing medical devices, implants and components that come in contact with the human body.
Porter’s Analysis
Threat of new entrants: The threat is moderate as the high initial capital investment and strong brand loyalty inhibits the entry of new players.
Bargaining power of buyers: The bargaining power of buyers is high owing to the presence of many established players offering similar products. Buyers can negotiate for better prices and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute raw materials. Suppliers have moderate influence on pricing.
Threat of new substitutes: The threat is low as there are limited alternatives available for aliphatic polyketone products.
Competitive rivalry: The competitive rivalry is high among the key players to gain major market share through branding, promotional activities, quality and price.
Key Takeaways
The global Aliphatic Polyketone Market Size is expected to witness high growth. 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.
Regionally, North America dominated the market and is expected to maintain its leading position during the forecast period. Rising healthcare expenditure and growing medical infrastructure in the region is boosting market growth. Presence of various key players and increasing awareness about wound care products is driving the European market. Asia Pacific is projected to be the fastest growing market for aliphatic polyketone during the forecast period. Improving economic conditions, growing medical tourism, rising healthcare expenditure are prompting market growth in Asia Pacific region.
Key players operating in the aliphatic polyketone market include 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. Major players are focusing on new product launches, geographical expansion and mergers & acquisitions to gain competitive edge in the market.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
