The global Alkyl Ketene Dimer market is estimated to be valued at US$ 309.87 Mn in 2021 and is expected to exhibit a CAGR of 4.9% over the forecast period, according to a new report published by Coherent Market Insights.
Alkyl Ketene Dimer is a versatile chemical compound used in various industries such as paper manufacturing, adhesives, water treatment, and textiles. It is a dimer of alkyl ketene, which is obtained by the condensation of fatty acids. Alkyl Ketene Dimer is widely used as a sizing agent in the paper industry, where it imparts desirable properties such as improved water resistance and abrasion resistance to paper. It is also used as a reactive intermediate in the synthesis of various chemicals. The increasing demand for Alkyl Ketene Dimer from these industries is expected to drive the market growth during the forecast period.
The Alkyl Ketene Dimer market is primarily driven by two factors: increasing demand from the paper industry and the growing textile industry.
1. Increasing demand from the paper industry: The paper industry is the dominant end-user of Alkyl Ketene Dimer. It is widely used as a sizing agent in the paper manufacturing process to improve the water resistance and printability of paper. With the growing demand for high-quality paper products, especially in the packaging and labels segment, the demand for Alkyl Ketene Dimer is expected to increase significantly. Additionally, the rising e-commerce industry is further fueling the demand for packaging materials, thereby driving the market growth.
2. Growing textile industry: Alkyl Ketene Dimer is used as a surface-sizing agent in the textile industry to improve the adhesion of coatings on fabrics. With the increasing demand for coated textiles in various applications such as apparel, home textiles, and automotive textiles, the demand for Alkyl Ketene Dimer is expected to rise. Moreover, the growing textile industry in emerging economies such as India, China, and Bangladesh is further bolstering the market growth.
The Alkyl Ketene Dimer market is segmented based on application and region.
Based on application, the paper industry segment dominates the market due to the extensive use of Alkyl Ketene Dimer as a sizing agent. The paper industry segment is expected to continue its dominance during the forecast period.
PEST analysis for the Alkyl Ketene Dimer market can be summarized as follows:
Political: There are no significant political factors impacting the market.
Economic: The economic growth of countries and rising disposable income are driving the market growth.
Social: Growing awareness about sustainable packaging and environmentally friendly products is influencing the market demand.
Technological: Continuous advancements in chemical synthesis techniques are driving the market growth.
4.9% over the forecast period, due to increasing demand from the paper and textile industries.
textile industries in emerging economies.
Key players operating in the global Alkyl Ketene Dimer market are Aries Chemical, Inc., Arakawa Chemical Industries, Ltd., Atlas Organics Private Limited, GO YEN Chemical Industrial Co., Ltd., Haihang Industry, Kemira Oyj, Longkou Longpai Fine Chemical Industry Co., Ltd., Oleon NV, Plasmine Technology, Inc., and SEIKO PMC Corporation.
The global Alkyl Ketene Dimer market is set to experience substantial growth in the coming years. The increasing demand from various industries, particularly the paper and textile sectors, will drive market expansion. Additionally, the market will see rapid growth in the Asia Pacific region, driven by the emerging economies and their growing paper and textile industries. Key players in the market will play a crucial role in meeting the rising demand for Alkyl Ketene Dimer and sustaining market growth.