April 13, 2024

Aliphatic Polyketone Market is Estimated to Witness High Growth Owing to Increased Usage in Automotive Industry

Aliphatic polyketone offers excellent chemical resistance, fatigue resistance, and tribological properties. It is primarily used in the automotive industry for engine and transmission components.

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 2030.

Key Takeaways

Key players operating in the Aliphatic Polyketone Market Size are Continental, Daimler, Delphi Automotive, Bosch, Denso, Itseez, Toshiba, Mobileye, ZF Friedrichshafen, Magna International. These players are focusing on new product launches and partnerships to strengthen their position in the market.

The market provides ample opportunities for growth aided by rising demand from the automotive industry and replacing metals with lightweight polyketones. Emerging economies with growing automotive sectors will provide lucrative opportunities.

Technological advancements are enabling wider applications of aliphatic polyketone. Developments in 3D printing have facilitated usage of polyketone in intricate engine parts with complex designs. Improvements in tribological properties through advanced formulation are augmenting usage in brake pads, clutches and gears.

Market drivers

Stringent regulations regarding fuel efficiency and emissions reduction are propelling demand for lightweight materials. Aliphatic polyketone helps reduce weight of engine and transmission components by 30-40% compared to metals. This significantly boosts fuel efficiency of vehicles. Growth in the automotive industry especially in developing nations is a key factor driving the aliphatic polyketone market.

Current challenges in Aliphatic Polyketone Market
The Aliphatic Polyketone Market is currently facing challenges due to disruptions caused by the ongoing COVID-19 pandemic. Supply chain and logistical constraints has hampered production activities and distribution networks. Furthermore, decline in automotive production has negatively impacted the demand for Aliphatic Polyketones which are extensively used in automotive applications.

SWOT Analysis
Strength: Aliphatic Polyketones exhibit excellent wear and chemical resistance making them suitable for applications requiring durability. Their light weight property also makes them energy efficient.
Weakness: High production costs make Aliphatic Polyketones more expensive than conventional polymers. Their processing also requires specialized techniques.
Opportunity: Growing demand for lightweight and high performance plastics from automotive, aerospace and medical industries provide new areas of growth.
Threats: Stiff competition from alternative lightweight polymers like carbon fiber composites and new generations of plastics. Volatility in raw material prices can impact profit margins.

Geographical regions of concentration
North America accounts for the largest share in the global Aliphatic Polyketone market in terms of value. This is due to strong presence of automotive and aerospace industries in the region which are major end-users.

Fastest growing geographical region
Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising automotive production and increasing expenditures on infrastructure development in developing countries like China and India.

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