by Market Overview:
The global Alkyl Ketene Dimer Market is estimated to be valued at US$ 309.87 Mn in 2021 and is projected to reach a market value of US$ 4.9 Bn by 2030, exhibiting a CAGR of 4.9% over the forecast period, according to a new report by Coherent Market Insights. Alkyl Ketene Dimer is a versatile chemical compound used in various industries due to its unique properties such as excellent water repellency, adhesive qualities, and enhanced surface strength. The growing need for such properties in sectors such as paper manufacturing, adhesives, inks, and textiles is driving the demand for Alkyl Ketene Dimer globally.
Market Key Trends:
One key trend observed in the Alkyl Ketene Dimer market is the increasing use of AKD wax in the packaging industry. With the rising demand for sustainable packaging solutions, AKD wax provides exceptional resistance to water and oil, making it an ideal solution for packaging materials. For instance, AKD wax is extensively used as a coating material for corrugated boards and paper bags, ensuring their durability and strength even in humid environments. This trend is expected to boost the market growth of Alkyl Ketene Dimer in the packaging industry.
Porter’s Analysis:
1. Threat of New Entrants: Moderate
The Alkyl Ketene Dimer market has a moderate threat of new entrants due to the presence of established manufacturers and the need for technical expertise in the production process. Additionally, stringent regulations and quality standards act as barriers for new players.
2. Bargaining Power of Buyers: Moderate
Buyers in the Alkyl Ketene Dimer market have moderate bargaining power due to the availability of multiple suppliers. However, with the increasing demand for AKD-based products, buyers may face some limitations in terms of availability and pricing.
3. Bargaining Power of Suppliers: Low
Suppliers of raw materials might have low bargaining power in the Alkyl Ketene Dimer market, considering the availability of alternative suppliers and the presence of established manufacturers who have established strong sourcing networks.
4. Threat of New Substitutes: Low
The threat of new substitutes in the Alkyl Ketene Dimer market is low due to the unique properties it offers, making it difficult to find direct replacements for specific applications.
5. Competitive Rivalry: High
The Alkyl Ketene Dimer market is highly competitive, with several key players vying for market share. Intense competition drives innovation and product development among these players to cater to the increasing demand from various industries.
Key Takeaways:
The global Alkyl Ketene Dimer Market Growth is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period. The increasing demand for water repellent and adhesive properties in sectors such as paper manufacturing, adhesives, inks, and textiles is driving market growth.
Regionally, the Asia-Pacific region is expected to dominate the Alkyl Ketene Dimer market during the forecast period. The region is experiencing rapid industrialization, particularly in the packaging and paper industries, where AKD wax finds extensive applications.
Key players operating in the global Alkyl Ketene Dimer market include Aries Chemical, Inc., Arakawa Chemical Industries, Ltd., Atlas Organics Private Limited, GO YEN Chemical Industrial Co., Ltd., Haihang Industry, Kemira Oyj, Longkou Longpai Fine Chemical Industry Co., Ltd., Oleon NV, Plasmine Technology, Inc., and SEIKO PMC Corporation.
The Alkyl Ketene Dimer market is witnessing impressive growth due to the increasing demand for its unique properties in various industries. The market’s future looks promising, driven by trends such as the use of AKD wax in sustainable packaging solutions. However, intense competition among key players and stringent regulations may pose challenges in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
