Polyketones, also known as aliphatic polyketone, are a relatively new class of polymers obtained by the perfectly alternating copolymerization or terpolymerization of α-olefins with carbon monoxide. The polymerization is well catalyzed by Pd(II) complexes; the activity of which strongly depends by the nature of the ligand, promoting agents, and solvent used. Owing to their excellent mechanical properties, thermoplastic polyketones have found diverse industrial applications ranging from fibers, fire-retardant materials, and film coatings to membranes, packaging materials, and adhesives. Herein, we review the synthesis, properties, and applications of polyketones. In addition, industrial production of polyketone is also discussed