The global Alkyl Ketene Dimer Market is estimated to be valued at US$ 309.87 million in 2021 and is expected to exhibit a CAGR of 4.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Alkyl Ketene Dimer (AKD) is a synthetic wax that is primarily used in the paper and pulp industry for improving the water resistance properties of paper and paperboard. It acts as a sizing agent, imparting hydrophobicity to the paper surface and preventing the penetration of liquids. AKD offers various advantages, such as enhanced printability, improved strength, increased resistance to tearing and folding, and better ink holdout. The growing demand for sustainable packaging solutions and the increasing focus on reducing plastic waste are driving the adoption of AKD in the packaging industry.
Market Key Trends:
One key trend in the Alkyl Ketene Dimer market is the rising demand for sustainable packaging solutions. With increasing environmental concerns and government regulations on single-use plastics, there is a growing need for eco-friendly packaging materials. AKD offers a viable solution as it can be used as a substitute for conventional plastic coatings on paper and paperboard. This eliminates the need for plastic laminations, making the packaging more sustainable and recyclable. For instance, many food and beverage companies are adopting AKD-treated paperboard for their packaging to meet their sustainability goals.
– Political: The governments of several countries are implementing stringent regulations to reduce plastic waste and promote sustainable packaging solutions. This creates a favorable environment for the adoption of AKD in the packaging industry.
– Economic: The increasing consumer preference for environmentally friendly products and the growing e-commerce industry are driving the demand for sustainable packaging materials, thereby fueling the growth of the AKD market.
– Social: The rising awareness about the harmful effects of plastic waste on the environment and the shift towards eco-friendly alternatives are influencing consumer preferences towards AKD-treated packaging.
– Technological: Ongoing research and development activities are focused on enhancing the performance of AKD and developing new applications for the product. Advanced technologies are being employed to improve the efficiency of AKD synthesis processes.
1: The global Alkyl Ketene Dimer Market Growth is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period, due to increasing demand for sustainable packaging solutions. The rising awareness about environmental issues and the need to reduce plastic waste are driving the adoption of AKD in the packaging industry.
2: In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the Alkyl Ketene Dimer market. The region has witnessed a significant shift in consumer preferences towards sustainable packaging, and the presence of key players in the paper and pulp industry has further boosted the market growth.
3: 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. These players focus on strategic collaborations, product innovations, and expansions to strengthen their market presence and cater to the increasing demand for sustainable packaging solutions.
In conclusion, the global Alkyl Ketene Dimer market is experiencing significant growth due to the rising demand for sustainable packaging solutions. AKD offers various advantages in terms of water resistance, printability, and strength, making it a preferred choice for the paper and pulp industry. With increasing environmental concerns and government regulations on plastic waste, the adoption of AKD is expected to witness further growth in the coming years.