The global Alkyl Ketene Dimer market is one of the emerging markets in specialty chemicals industry. Alkyl Ketene Dimer are organic compounds that are produced from fatty acids and are primarily used as sizing agents in paper industry to provide strength, gloss and printability to paper. It improves strength of paper by reacting with cellulose fibers, reduces dusting and provides barrier properties against moisture, oil and grease. In packaging industry, AKD coated paper is used in manufacturing of folding carton boxes, labels, cigarette packaging and other flexible paper packaging. Growing packaging industry worldwide owing to increasing demand for convenient and sustainable packaging from food & beverages, consumer goods and pharmaceutical industries is expected to drive the demand for AKD market over the forecast period.
The Global Alkyl Ketene Dimer Market Size is estimated to be valued at US$ 392.81 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Alkyl Ketene Dimer are 3M, American Polyfilm Inc., Avery Dennison Corporation, Covestro AG, Ding Zing Advanced Materials Inc., Gerlinger Industries GmbH, Huntsman International LLC, Okura Industrial Co. Ltd, Permali Gloucester Ltd, Schweitzer-Mauduit International Inc., Wiman Corporation, and The Lubrizol Corporation.
The demand for AKD is expected to grow significantly over the forecast period owing to increasing consumption from packaging industry where it imparts strength and printability to paper and paperboard. Rapid growth in e-commerce and rising demand for sustainable and lightweight packaging from various end-use industries is expected to propel the AKD market growth during the forecast period.
Continuous investments in research & development of new AKD products with advanced properties like antimicrobial properties, oil & grease resistance is expected to drive the technological advancements in AKD market. Development of bio-based and eco-friendly AKD using renewable resources can provide growth opportunities in the coming years.
Market Trends
Some of the key trends are observed in the global AKD market include growing preference of customers towards sustainable packaging made from recycled or renewable content. Majority of AKD manufacturers are focusing on developing bio-based AKD products derived from natural fats and oils which can reduce dependency on petroleum-based raw materials. For instance, In April 2020, Chemik Co. launched EcoSyle Green – a bio-based and biodegradable line of sizing chemicals including AKD for paper and paperboard packaging.
Another major trend gaining traction is development of multi-functional AKD products. Companies are investing in R&D to enhance other properties of AKD like flexibility, grease resistance and printability. For example, in 2019, Permali introduced Greased Lightning - an enhanced AKD with improved oil and grease resistance for food packaging and wrappers.
Market Opportunities
The key growth opportunities existing in the global AKD market include:
- Rising market for flexible paper packaging in food and consumer goods industries owing to shifting preferences towards flexible and comfortable packaging provides extensive opportunities for AKD market.
- Growing demand for bio-based and biodegradable sizing chemicals from packaging manufacturers focusing on sustainability offers lucrative opportunities for bio-AKD market. Continuous innovations in product portfolio catering to evolving consumer demands will aid market growth over the forecast period.
Impact of COVID-19 on Alkyl Ketene Dimer Market Growth
The ongoing COVID-19 pandemic has significantly impacted the growth of the alkyl ketene dimer market. During the initial phase of the pandemic, the implementation of nationwide lockdowns disrupted supply chains and hampered manufacturing activities. This significantly decreased the demand for alkyl ketene dimer from end-use industries like paper and textiles. As these industries witnessed a decline in production activities due to the pandemic, their consumption of alkyl ketene dimer as a sizing agent also reduced considerably.
However, with the gradual relaxation of lockdowns and resumption of economic activities, the alkyl ketene dimer market has started witnessing signs of recovery. The demand from the paper industry in particular is rebounding on the back of higher paper consumption for packaging applications amid the rise in e-commerce activities. The textile industry is also recuperating owing to improving consumer spending on apparel. Market players are focusing on capacity utilization and production optimization to fulfill the growing demand. Meanwhile, implementation of safety protocols, digitalization of operations, and innovations in production technologies will help the industry stay resilient in the post-COVID phase. While short-term challenges persist, the long-term fundamentals and growth drivers of the market remain intact.
Value Concentration in European Region
In terms of value, Europe currently accounts for the largest share in the global alkyl ketene dimer market. Countries like Germany, France, Italy and the UK have a strong presence of pulp and paper manufacturers as well as textile producers who are major consumers of alkyl ketene dimer. The favorable government policies and subsidies supporting these industries contribute to the high consumption of alkyl ketene dimer in the European region. Furthermore, the region is home to prominent market players who have established production facilities as well as supply networks catering to European demand. However, Asia Pacific is emerging as the fastest growing regional market with increasing industrialization in countries such as China and India.
Fastest Growth in the Asia Pacific Region
Asia Pacific region is poised to witness the fastest growth in the alkyl ketene dimer market during the forecast period. This can be attributed to rising disposable incomes, growing urbanization, and increasing trend of nuclear families in the region which is driving the demand for paper products and fabrics. Countries like India and China also have a large nascent paper industry to cater to the needs of the fast expanding e-commerce sector. At the same time, apparel consumption is proliferating with the rapid economic development of Asian nations. This will significantly spur the consumption of alkyl ketene dimer from textile manufacturers across Asia Pacific over the coming years. Furthermore, ongoing government initiatives to promote domestic manufacturing augur well for regional market growth.
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Feb 20, 2020: The analysts forecast the global alkyl ketene dimer market to exhibit a CAGR of 5.34% during the period 2019-2024.
The report covers the present scenario and the growth prospects of the global alkyl ketene dimer for 2019-2024.
To calculate the market size, the report considers the alkyl ketene dimer sales volume and revenue.The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets and applications.Geographically, the global alkyl ketene dimer market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America.
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.- North America (U.S., Canada, Mexico, etc.
)- Asia-Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.
The research report includes specific segments by region (country), by company, by Type and by Application.
This study provides information about the sales and revenue during the historic and forecasted period of 2015 to 2026.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/57978/global-alkyl-ketene-dimer-2020-223Segment by Type, the Alkyl Ketene Dimer(CAS 144245-85-2) market is segmented into:BlockyFlakySegment by Application:Paper ChemicalOtherGlobal Alkyl Ketene Dimer(CAS 144245-85-2) Market: Regional AnalysisThe Alkyl Ketene Dimer(CAS 144245-85-2) market is analysed and market size information is provided by regions (countries).
The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type and by Application segment in terms of sales and revenue for the period 2015-2026.The key regions covered in the Alkyl Ketene Dimer(CAS 144245-85-2) market report are:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGlobal Alkyl Ketene Dimer(CAS 144245-85-2) Market: Competitive AnalysisThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
