Alkyl Ketene Dimer (AKD) Market Trends, Industry & Size 2030
Global Alkyl Ketene Dimer (AKD) Market
Segments - By Type (Wax and Emulsion), By Application (Printing and Writing Papers, Newsprint Papers, and Paperboard) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Segments - By Type (Wax and Emulsion), By Application (Printing and Writing Papers, Newsprint Papers, and Paperboard) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
The global alkyl ketene dimer (AKD) market was valued at USD 294.6 Million in 2019 and is projected to reach USD 384.2 Million by 2027, expanding at a CAGR of 3.6% during the forecast period. Alkyl ketene dimer is used as sizing agent in the paper industry. The most common form of AKD is a waxy solid material dispersed, as small particles in a solution containing stabilizer. The stabilizer includes cationic starch or another cationic polyelectrolyte.
AKD is majorly available in two forms, solid and liquids. The liquid form is less efficient than the solid form as a sizing agent. AKD is widely used for making ink-jet printing papers, and many other grades of paper and paperboard. It is used for products that need to resist water over a long period of time. Moreover, AKD is used for hydrophobization of paper, when made under alkaline conditions.
Rising awareness among people has led to the increase in consumers concern regarding sustainable packaging. Paper is a widely used material for packaging of products, as it is inexpensive, lightweight, and degradable. Increasing number of e-retailers has fueled the demand for paper and paperboards as a packaging material. This is expected to propel the market growth during the forecast period.
Stringent Government Regulations
Governments have imposed strict regulations and limitations on the use of plastic bags, which has fueled the preference for paper packaging. Imposing a ban on the use of plastics by governments is expected to create new opportunities in the paper-based packaging industry. This is expected to drive the demand for paper and paperboards used for packaging. This, in turn, is projected to boost the market growth.
Rising Demand for Printing Paper and Writing Paper
Printing paper and writing paper are widely used for business and educational purposes. 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.
Market Restraints
Adoption of TV, Smartphone, and Internet
Advancements in technology has introduced several electronic devices used in day to day life, such as TV, mobile phones, laptops, and tablets. Consumers are using these devices for watching news and updaters about world events. The Internet has made it easy to access news through channels and apps through a smartphone. Availability of digital media and social media platforms has increased the investment in digital advertising as compared to print media such as flyers and pamphlets.
This has led to decline in the demand for newsprint papers and printing papers. Moreover, availability of alternatives to newspaper, as advertising materials, is one of the major factors restraining market growth.
Environmental Impact Caused by the Paper Industry
A majority of the people are concerned about the impact of deforestation on the environment. Paper is made from trees (wood pulp), and increasing demand for paper has led to the decrease in the number of trees, which in turn, is hampering the environment. This has led to tremendous changes in the climate. Thus, encouraging people to shift from paper to digital sources to decrease the use of paper. Increasing awareness among people about environmental concerns has decreased the demand for paper. Declining demand for paper is expected to hamper the alkyl ketene dimer market during the forecast period.
Market Opportunities
Growing Demand for Paper and Paperboard
Rising number of food chains, restaurant, online shopping through e-commerce retailers has led to the rise in the demand for paper packaging. Printing papers and paperboard are commonly used as packaging materials. Paper bags are used for packaging food items, cosmetics products, clothes, and other consumer goods. Moreover, paperboards are used for packaging electronics products, heavy retail products, and cartons & boxes. Governments are imposing strict regulations on packaging materials after the ban on plastic, thus fueling the demand for paper packaging. This is expected to create lucrative opportunities in the market and is expected to boost market growth.
Segmental Outlook
On the basis of types, the alkyl ketene dimer (AKD) market is bifurcated into wax and emulsion. The wax segment is anticipated to expand at a CAGR of 3.4% during the forecast period due to the benefits offered by the AKD wax, as it reduces machine breakdown and water recycling difficulties, water absorption, and enhances surface conditions of paper during the paper manufacturing process. The emulsion segment is estimated to hold 59.6% share of the market in 2020 owing to its wide usage in paper industry.
Based on applications, the global alkyl ketene dimer (AKD) market is divided into printing and writing papers, newsprint papers, and paperboard. The printing and writing paper segment is projected to hold a major share of the global market during the forecast period owing to rising demand for printed book covers, magazines, and catalogs is expected to boost the demand for printing and writing papers. The paperboard segment is expected to grow at a substantial pace due to owing to increasing packaging applications in the food sector, the cosmetic sector, and the consumer goods sector.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 40.2% share of the market in 2020. The market in the region is projected to expand at a substantial CAGR of 3.9% during the forecast period. The market in the region is anticipated to grow during forecast period due to rapid industrialization and increasing number of manufactures in the region.
The market in North America is projected to expand at a significant CAGR of 3.6% due to Increasing demand in the region for consumer goods, packaged food items, and cosmetics in the region is expected to boost the need for packaging products.
Key Benefits for Industry Participants & Stakeholders
In-depth Analysis of the Global Alkyl Ketene Dimer (AKD) Market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Alkyl Ketene Dimer (AKD) Market Performance
Key players in the market include Kemira Oyj, Arakawa Chemical Industries,Ltd., SEIKO PMC CORPORATION, and Wilmar International Limited. These companies are considered manufacturers of alkyl ketene dimer based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the alkyl ketene dimer production is added in the company’s capacity.
For instance, in December 2018, Kemira Oyj entered into a joint venture through Kemira TC Wanfeng Chemicals Yanzhou with Shandong Tiancheng Wanfeng Chemical Technology, an AKD producer in China. The joint venture strengthened its position in the market with a quality asset and secure its supply of the key raw material for AKD wax.
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Major manufactures include, Kemira Oyj, Arakawa Chemical Industries,Ltd., SEIKO PMC CORPORATION, Wilmar International Limited, and Harima Chemicals Group, Inc.
The base year considered for the global Alkyl Ketene Dimer market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
The market is expected to witness increment of over 2.1% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the Alkyl Ketene Dimer market. The ongoing research of MMR for COVID-19 string is expected to grow the production Alkyl Ketene Dimer.
The rising consumer consciousness regarding sustainable packaging, rising demand for printing paper and writing paper, and stringent government regulations are expected to drive the market growth during forecast period.
In addition to market size (in US$ Million) and Company Market Share (in % for base year 2019), other data such as short term and long term outlook for Alkyl Ketene Dimer market is available in final report.
According to this Growth Market Reports report, the market from Alkyl Ketene Dimer is likely to register a CAGR of 3.6% during forecast period 2020-2027, with an anticipated valuation of US$ 384.2 million by the end of the 2027.
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