by Market Overview:
Aliphatic polyketone is a high-performance engineering plastic that exhibits outstanding properties such as excellent mechanical properties, durable resistance to chemicals, oils and solvents, high heat tolerance and electrical insulation. It finds major application in automotive engine components due to its high strength, rigidity and heat tolerance.
Market key trends:
The Aliphatic Polyketone Market Demand is estimated to be valued at US$ 131.4Mn in 2022 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. One of the major trend driving the market growth is the rising adoption of aliphatic polyketone in automotive industry. Aliphatic polyketone provides an excellent alternative to metals for under-the-hood automotive components due to its high strength, heat resistance and durability. It is increasingly being used to manufacture engine components such as intake manifolds, charge-air hoses and valve covers. The material helps reduce component weight and improves heat endurance of parts. This is supporting automakers to meet stringent emission regulations thus boosting the demand for aliphatic polyketone.
Porter’s Analysis
Threat of new entrants: Entry of new players is difficult as it requires high capital and technical expertise.
Bargaining power of buyers: Demand for aliphatic polyketone is high due to its properties. Buyers have low bargaining power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of raw materials.
Threat of new substitutes: Substitutes like nylon are available but aliphatic polyketone offers better properties.
Competitive rivalry: Market is dominated by few international players.
SWOT Analysis
Strength: High strength-to-weight ratio, UV resistance, and chemical resistance of aliphatic polyketone.
Weakness: High production cost and availability of substitutes at lower prices.
Opportunity: Growing demand from automotive, aerospace, and electronics industries due to lightweight properties.
Threats: Stringent regulations regarding plastics production and fluctuating raw material prices.
Key Takeaways
The global aliphatic polyketone market is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing demand from automotive industry for lightweight materials. The automotive industry accounts for over 30% share of the global market.
Regional analysis North America dominates the global market and is expected to grow at 8.5% CAGR during the forecast period due to high demand from aerospace industry in the US. Asia Pacific is fastest growing region expected to grow at 9.5% CAGR driven by automotive production in China and India.
Key players operating in the aliphatic polyketone market include Hyosung Corporation, Poly-Tech Industrial, and Celanese Corporation. Hyosung Corporation holds over 25% market share globally for aliphatic polyketone production.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
