Global polyketone market is anticipated to grow considerably in the forecast period owing to the high demand for consumer goods and electronics. Polyketone is the eco-friendly polymer material, which is extensively used in automotive industry and industrial materials, such as automotive interior and exterior, engine and fuel components, electronic and electrical parts, packaging materials, and extrusion. The material is exceptionally wear resistant due to tribiological property, fuel and chemical resistant, and holds gas and hydrocarbon barrier characteristics. Polyketone also offers high resistance to hydrocarbon solvents, weak acids and bases, and automotive fluids.
Various factors impacting the growth of polyketone market include high demand from aerospace and coating industry, high demand for plastics to replace the metals that are used in various machine components, and demand for lightweight materials in aerospace to resist high temperatures. However, high manufacturing cost of polyketone is expected to hamper the market. Polymers display high ductility level over broad temperature range that is beneficial to several automotive fuel applications, which is expected to offer opportunities to the market.
Polyketone market is categorized on the basis of polymer type, product type, application, and geography. On the basis of type, market is divided into synthetic polymers and natural polymers. Synthetic polymers are expected to hold larger share of the market since they can be combined in various proportions for mechanical, chemical, and physical property. Based on product type, the market is divided into hetero chain polymer, carbon chain polymer, and element organic polymer.
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In terms of application, polyketone market is divided into consumer goods and automotive. Consumer goods segment is expected to lead the market owing to high demand for consumer electronics and other goods and growing urbanization. Furthermore, automotive segment is also expected to lead the market due to increase in demand for passenger vehicles and increase in developments in the automotive industry.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to dominate the market in the coming years due to increase in population and disposable income of consumers. North America is also expected to contribute significantly in the forecast period due to growing opportunities in the domestic segment.
The key players in polyketone market are Chevron Phillips Chemical Company, Daikin Industries Ltd, BASF SE, Polyplastics Co, Ltd., Dongyue Group Limited, DIC Corporation, Evonik Industries AG, 3M, EMS-Grivory, Performance Plastics Ltd., DSM Engineering Plastics B.V, Mitsui Chemicals And Materials, Inc., Victrex Plc, Kuraray Co., Ltd., The Dow Chemical Company, Bayer MaterialScience AG, China Lumena New Materials Corp., and DuPont Performance Polymers.
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