by The aliphatic polyketone market has been witnessing significant growth over the past few years owing to rise in demand from various end-use industries including automotive and aerospace industries. Aliphatic polyketones find wide applications in various automotive parts such as gears, bushings, bearings, cams and thrust rings due to their high strength, hardness, chemical resistance and wear & friction properties. The use of aliphatic polyketones helps in reducing weight of vehicles and improving fuel efficiency.
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.
Key Takeaways
Key players operating in the aliphatic polyketone market 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 gain competitive advantage in the market.
The Aliphatic Polyketone Market Share is expected to witness lucrative growth opportunities due to increasing demand for lightweight solutions, growing automotive production and rising adoption of 3D printing for prototyping applications.
The market is anticipated to witness strong growth in Asia Pacific region owing to rising automobile production in China and India. Growing demand for aliphatic polyketones from aerospace industry is also supporting growth of the market in the region.
Market drivers
Rising demand for lightweight and high-performance materials from automotive industry is a major factor driving growth of the global aliphatic polyketone market. Aliphatic polyketones help in reducing weight of vehicles and improving fuel-efficiency. Stringent regulations regarding vehicle emissions is further increasing need for lightweight auto-components. Growing automotive production across the globe especially in developing nations is also supporting market growth. Increasing R&D activities related to new material development and expansion of production facilities by key players are some other factors expected to boost adoption of aliphatic polyketones over the forecast period
PEST Analysis
Political: Regulations regarding carbon emissions and vehicle efficiency standards are positively impacting the demand for lightweight materials like aliphatic polyketones in the automotive industry.
Economic: Increased spending power of consumers in developing economies is boosting vehicle sales and subsequently fueling the growth of the aliphatic polyketone market.
Social: Rising environmental consciousness among consumers about the need to curb pollution is driving automakers to adopt eco-friendly materials for manufacturing various vehicle parts.
Technological: Advances in material science are facilitating the development of high-performance grades of aliphatic polyketones with better heat and chemical resistance properties for use in demanding applications.
The aliphatic polyketone market in terms of value is highly concentrated in North America and Europe currently. Strong presence of leading automakers as well as strict emission norms are driving the demand for lightweight auto components in these developed regions.
The Asia Pacific region is poised to emerge as the fastest growing market for aliphatic polyketones during the forecast period. Rapid industrialization, growing automobile production, and rising disposable incomes are fueling the uptake of polyketones across industries like automotive, electronics, and consumer goods in countries such as China, India, and South Korea.
