The global alkyl ketene dimer (AKD) market was valued at US$ 309.87 Million in 2021, according to the Global Alkyl Ketene Dimer (AKD) Market Report, by Application (Printing & Writing Paper, Cardboard, and Others (Newspaper, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – published by Coherent Market Insights.
The global alkyl ketene dimer (AKD) market is expected to surpass US$ 477.13 Million by 2030 and exhibit a CAGR of 4.9% during the forecast period (2022-2030). Emulsification and mixing of emulsified alkyl ketene dimers (AKD) wax with an aqueous mixture containing fibers, cellulosic fibers, mineral particles, and other chemical agents are required for alkyl ketene dimers (AKD) wax application in the paper industry. Alkyl ketene dimers (AKD) wax emulsion particles may cling to fibers, cellulose fibers, or mineral surfaces in the suspension during the manufacturing of paper sheets.
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Browse 16 market data tables* and 16 figures* on "Global Alkyl Ketene Dimer (AKD) Market” – Forecast to 2030.
Key Trends and Analysis of the Global Alkyl Ketene Dimer (AKD) Market:
- Among regions, Asia Pacific accounted for 35.20% market share in 2021 in the global alkyl ketene dimer (AKD) market. Asia Pacific is expected to be dominant market due to increased industrialization in the region's developing economies such as India. Alkyl ketene dimer market in Asia Pacific is expected to grow at a rapid pace during the forecast period, due to increasing demand for alkyl ketene dimer from packaging sector.
- Printing papers are available in various types, sizes, and qualities, and finds application in offset printing and laser imaging. These papers are used in business activities as business communications documents and for printing books and documents used for educational and academic purposes. For instance, according to a data published by the American Forest & Paper Association, the national trade association of the paper and wood products industry, in March 2022, in the U.S. printing-writing paper shipments increased by 2% in February 2022 compared to February 2021.
Key Takeaways of the Market:
- Among Application, the printing & writing paper segment held a dominant position in the global alkyl ketene dimer (AKD) market in 2021. The substantial role of alkyl ketene dimer (AKD) wax in minimizing the impact of water contamination on the environment by recycling water throughout the paper production process is a primary factor driving its use in the paper industry. Furthermore, increased industrialization along with population growth is likely to boost the demand for printing and writing paper, which is expected to drive alkyl ketene dimer (AKD) demand globally over the forecast period.
- Increasing end-use industries such as food and beverage manufacturing, household electrical appliance manufacture, cigarette manufacturing, and medical instrument manufacturing requires packaging. Cardboard boxes and containers are fabricated boxes majorly used for packaging goods. Therefore, demand for alkyl ketene dimer (AKD) is expected to grow in forecast period
Key Players
- Major players operating in the global alkyl ketene dimer (AKD) market include 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 key players are constantly engaged in acquisitions to gain a competitive advantage over other players. For instance, in June 2020, Solenis, an American manufacturer of specialty chemicals, acquired the paper business of Chemsystems, a producer and supplier of specialized chemical solutions for water-intensive industries, including the pulp, paper and tissue manufacturing industries.
Global Alkyl Ketene Dimer (AKD) market - Impact of Coronavirus (COVID-19) Pandemic
Since March 2020, almost every industry in the world has suffered due to the COVID-19 pandemic. The demand for consumer goods in 2020 reduced significantly, which in turn, hampered growth of the packaging industry. Furthermore, supply chain disruptions also reduced growth of the paper packing industry. Moreover, import and export activities reduced drastically due to various international transport restrictions. China, one of the major exporters of consumer goods, stopped its export operations. This further reduced growth of the packaging industry, thereby reducing demand for AKD wax in 2020.
According to The World Economic Forum (WEF), an international non-governmental and lobbying organization, in March 2020, the COVID-19 forced chemical industries to shut down entire plants – which reduced global chemical GDP by around 11% in 2020. However, by capitalizing on cross-sector innovation and collaboration, the chemical industry is expected to secure its role in the post-COVID era with improved products, services, and technologies.
