Ketone Resin Market Size, Share, and Industry Analysis, By Type (Carbon Chain Polymer, Hetero Chain Polymer, Element Organic Polymer), By Application (Coating and Paints, Printing Ink, Adhesive), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Ketone Resin Market Report Overview

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The global ketone resin market size was USD 60 million in 2021 and is projected to touch USD 84.02 million by 2031, exhibiting a CAGR of 3.4% during the forecast period.

The advanced material commonly referred as poly-ketone resin, ketonic resins, and ketone-aldehyde resins, are still the carbonyl and hydroxyl group-containing condensing products of ethanoic and formaldehyde. The chemical can indeed be found in paintings, varnishes, printing inks, and other inks as co-binders. They not only enhance the concentration and speed of drying, but they also enhance a variety of qualities such as toughness, gloss, and film build. Adherence on diverse surfaces is enhanced, which, along with hydrolysis resistance, improves protection against corrosion.

The chemical also referred as polyketone resin, ketonic resins, or ketone-aldehyde resins, are the carbonyl and hydroxyl group-containing condensing by-products of cyclohexanone and formaldehyde.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

The global COVID-19 pandemic has been unprecedented and staggering, with ketone resin experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Beginning in 2021, the COVID-19 illness spread around the globe, affecting countless people in general, and major governments across the world issued orders for work stoppages and foot restrictions. Most initiatives have been seriously impacted, with the exception of the groups that provide medical products and life support equipment. Construction activity and manufacturing activities especially pen manufacturing was briefly halted or suspended as a result of the lockout, which had a significant impact on the ketone resin market application programming interface. The market was ultimately significantly impacted by restrictions connected to fewer industrial and manufacturing activities, a more constrained supply chain, a reduced proportion of employees in printing press, and closures.

The ketone resin market growth is predicted to rise as a result of growing demand and rising application areas in printing, pen manufacturing and a crucial element in adhesives making.

LATEST TRENDS 

"Increasing Usage of Urethane Grade Resin to Stimulate Market Development "

Resins with a high degree of hydroxyl groups, also including resanon 100 and in addition resanon 121, are particularly well suited for use in the development or formulation of biconstituent polyurethane systems with polyoils or sulphone and isocyanates (PU or PUR 2K). The urethane grade resins interact easily with single and di-isocyanates like HDI, TDI, MDI, and IPDI. The strong connection formed by the hydroxyl and isocyanates ensures high protection against water, heat, and oxidation.

This technique is employed in a wide range of purposes, including interior and exterior floors (for example, industrial facilities, dormitories, garages, parking garages, and many more), as well as roofs.

The market is expected to grow at a rapid rate throughout the forecast period because to improvements in resin technology and diversity in application.

Ketone Resin Market Segmentation

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• By Type

Based on type; the market is divided into carbon chain polymer, hetero chain polymer, element organic polymer.

Carbon chain polymer type is the leading part of the type segment.

• By Application

Based on the application; the market is divided coating and paints, printing ink and adhesive.

Coatings and paints are the leading part of the application segment.

DRIVING FACTORS

"Improvement in Poor Adherence to Aid Market Expansion  "

The chemical can be found in acrylics, lacquers, printing inks, and other inks as co-binders. They not only enhance the solids content and speed of drying, but they also improve a variety of qualities such as hardness, gloss, and film build. Adhesion on diverse surfaces is increased, which, along with hydrolysis resistance, improves corrosion protection. Ketone Resin (2 -15% in ink formula) can enhance pigmentation wetness, lustre, adherence, printable, solid content, and drying rate in printing inks including such lamination ink, gravure imprinting ink, surface imprinting ink, flexography ink, anti-forgery ink, and ballpoint pen ink.

The chemical can improve the liquidity and adherence of ballpoint pen ink and alleviate the problem of poor adherence on certain surfaces such as PE, PP, PET, and PVC. It can also be utilised in food packaging ink.

"Rise in Industrial Applications to Foster Industry Progress "

The chemical is suitable among all resins and solutions commonly used in coatings. It can be utilised as both a co-binder or ring binder in painting, embossing and flexographic inks, special paints, sheet paints, polyurethane systems, and hot-melt applications. When employed as a co-binder, the advanced material increases adhesion, gloss, and hardness. The chemical products are commonly utilised in many forms of polyurethane structures (PU-PUR) as adhesion, paints, exterior and indoor floors, and many other industrial applications due to the high responsiveness of OH with isocyanates. It improves not just the gloss and adherence of printing inks, but also the solid content, drying time, and UV resistance. Furthermore, the chemical can be used with colours to create tinctorial paste with a high pigment content (30-40%). The chemical can be used to regulate fluidity in hot melt systems.

The industry is anticipated to grow as industrial applications rise.

RESTRAINING FACTORS

"High Maintenance Costs to Hinder Market Advancement "

It is strongly advised to preserve the substance in dry circumstances and to processing it as soon as the bag is opened. The typical storage conditions should be around 15 and 30 degrees Celsius. The substance should indeed be stored away from air, light, and moisture.

Also, the shelf life, the substance has at least a 12-month shelf life first from date of manufacturing. Additionally, this sophisticated material requires a lot of maintenance because trained personnel are needed for the work. It is anticipated that some improvements and maintenance costs may limit industry growth. The chemical requires 25 kilogramme packaging paper bags with a liner made of HDPE.

 It is projected that maintenance costs will impede ketone resin market expansion.

Ketone Resin Market Regional Insights

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"Rising Developments in Residential Sector to Foster Market Advancement in Asia Pacific"

Due to the rising developments in residential sector, overall ketone resin market share in Asia Pacific is anticipated to grow at a rapid rate. Due to increased political attention on the construction sector through the promotion and funding of the industrial sector and public infrastructure, the marketplace in the region is anticipated to expand at a large rate. The ketone resin market with in area is expected to be driven by the rising demand in the formulation of printing and adhesives.

KEY INDUSTRY PLAYERS

"Eminent Players in the Industry to Promote Market Expansion "

Ketone resin market report keeps a close eye on the market's major competitors through situation plan, micro and macroeconomic sales trends and situation assessment, cost of production, and a comprehensive assessment of the market's condition during the projected period. It is a thorough study that focuses on fundamental and supplementary factors, customer base, leading segments, and regional analysis. The research also examines significant actors, big collaborations, mergers and acquisitions, as well as trending innovation and corporate policies.

List of Market Players Profiled

• Evonik (Germany)
• Micro Inks (U.S.)
• BASF (Germany)
• Lawter (Chicago)
• Uniform Synthetics (India)
• D.R.Coats Ink and Resins (India)
• Shree Mahadev Intermediates (India)
• Macro Polymers (India)
• CLEF Industrial (U.S.)
• Intech Synthetic Materials (Japan)
• Keyuan Innovative Materials (China)
• Dongrun Chemical (China)
• Changsha Creature Industry (China)
• Jinan Tongfa Resin (China)
• HZ New Chemical Material (China)
• Haishuo Biology (China)

REPORT COVERAGE

The detailed examination demonstrates where they range from drivers and offers scope for strategic planning. It is important to identify the variables that limit market growth so that new strategies can be developed to take advantage of the lucrative opportunities that exist in the rapidly growing sector. Perspectives from industry professionals have additionally been taken into account to help better understand the market.

The ketone resin market research study 2022 to 2028 offers a thorough examination of product kinds, sales, and income by region, as well as production cost analysis, manufacturing evaluation, and competitive effect factors analysis. This report on the ketone resin market focuses on the worldwide and regional markets, providing information about key players such as producers, suppliers, customers, drivers, types, and applications. The study also analyses the impact of Covid-19 on the ketone resin market as well as its recuperation, along with opportunities and growth strategies.