April 21, 2024

Aliphatic Polyketone Market Expected To Be Flourished By Extended Use In Automotive Industry

Aliphatic polyketones are a class of engineering thermoplastics that exhibit excellent fatigue resistance, chemical resistance, and dimensional stability at high temperatures. They are increasingly being used in the automotive industry for various parts including engine covers, oil pans, and air intake manifolds. Aliphatic polyketones provide resistance to fuels, oils, and solvents while maintaining strength and durability even at elevated under-hood temperatures.

The global aliphatic polyketone market is estimated to be valued at US$ 165.01 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Extended Use in Automotive Industry (as highlighted in the heading, the extended use of aliphatic polyketones in the automotive industry is driving the market growth): The automotive industry is a major end-user of aliphatic polyketones due to their heat and chemical resistance properties. The growing automotive manufacturing globally is supporting the rising demand for engineering plastics like aliphatic polyketones from automakers. Additionally, the trend of vehicle electrification is also fueling the need for high-performance thermoplastics that can withstand under-hood temperatures produced by electric vehicle batteries and motors. This growing demand from the automotive industry is expected to propel the aliphatic polyketone market growth over the forecast period.

Segment Analysis
The Global Aliphatic Polyketone Market Size can be segmented on the basis of application into coatings & paints, films & injection molding, composites, and others. The films & injection molding segment accounted for over 45% of the total market share in 2021 owing to aliphatic polyketone’s superior mechanical and chemical properties that make it ideal for use in films and injection molding applications.

PEST Analysis
: Currently, there are no significant political factors affecting the aliphatic polyketone market.
Economic: The market is driven by the growing demand from end-use industries such as automotive, aerospace, and electronics. The global economic recovery post-pandemic will further fuel market growth.
Social: Increasing disposable incomes and rising living standards in developing countries are increasing spending on durable and specialty goods containing aliphatic polyketone.
Technological: Research focusing on developing advanced aliphatic polyketone grades with enhanced properties such as heat resistance and durability is leading to new applications in industries.

Key Takeaways
The global aliphatic polyketone market is expected to witness high growth over the forecast period of 2024 to 2031. The films & injection molding segment is the largest as well as the fastest-growing segment owing to aliphatic polyketone’s properties making it ideal for these applications. The global aliphatic polyketone market is estimated to be valued at US$ 165.01 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Regional analysis
North America accounted for over 30% of the global market share in 2021 primarily due to the large automotive and aerospace industries in the US and Canada. Asia Pacific is expected to grow at the highest CAGR during the forecast period with China and India emerging as major markets.

Key players
Key players operating in the aliphatic polyketone market are Continental, Daimler, Delphi Automotive, Bosch, Denso, Itseez, Toshiba, Mobileye, ZF Friedrichshafen, and Magna International. Continental and Daimler are the leading players dominating the automotive applications segment.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it