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“Advancements in the packaging industry and increasing demand from emerging economies are expected to drive the slip additives market.”
The slip additives market is projected to grow from USD 223 million in 2019 to USD 284 million by 2024, at a CAGR of 5.0% during the forecast period. The market is largely driven by the increasing demand from the packaging industry. Slip additives are added to reduce the coefficient of friction in the material and enhance the surface slip and polymer quality. These are widely used in polymers of films, sheets, caps, and closures that are used in packaging applications. They are also used in coatings and inks to improve surface slip properties during application. The basic raw materials used for manufacturing slip agents are vegetable oil, animal fat, waxes, silicone, and other polymers. The growing need for organic additives is expected to propel the demand for fatty amides-based slip additives in the next few years. Fatty amides are extensively used in the manufacturing process of packaging materials.
The fatty amides segment is expected to be the fastest-growing type segment, in terms of value, between 2019 and 2024.”
The fatty amides segment is projected to register the highest growth, in terms of value, during the forecast period. These are the largest types of slip additives and are projected to continue dominating the market during the forecast period as well. Fatty amide-based slip additives find a wide range of applications in packaging film processing, which is expected to support market growth in the future. The erucamide subsegment is projected to register the highest CAGR of 5.3%, in terms of value, between 2019 and 2024. The high compatibility of erucamide with different applications will propel the market for erucamide-based slip additives.
The packaging segment is projected to account for the largest share, in terms of value, of the overall slip additives market between 2019 and 2024.
The packaging segment accounted for the largest share in the slip additives market, in terms of value and volume in 2018. Plastic packaging of food & beverage products reduces the possibility of product contamination and also protects the products from moisture and temperature. Its convenience and portability also lead to the high demand for plastic in the packaging of food products. The primary functions of food & beverage packaging are to reduce food loss and increase the shelf life of food products. One of the major transformations in the food & beverage industry is the reduction in the amount of packaging, mostly non-recyclable, to reduce packaging waste without compromising on the safety and hygiene of the food products. This results in the increasing demand for polyolefin plastic packaging films. These factors drive the packaging segment in the food & beverage industry, thereby impacting the slip additives market.
Increasing demand from the packaging industry is expected to drive the demand for slip additives in APAC.
APAC is the largest and the fastest-growing slip additives market. It is projected to register the highest CAGR during the forecast period and offer significant growth opportunities to the market players in the packaging and non-packaging segments. According to the World Bank, the two economic giants of the APAC region China and Japan were the world’s second- and third-largest economies, respectively, in 2018. APAC is the favorable region for foreign investments and has booming industrial sectors, largely due to low-cost labor, the ready availability of raw materials, an increase in the adoption of sophisticated technologies and innovations, and easy availability of inexpensive lands. Industrialization, growing middle-class population, rising disposable income, changing lifestyle, and the rising consumption of packed products are expected to drive the packaging industry, providing growth prospects to the slip additives market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
- By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
- By Designation: C-Level - 46%, Director Level - 27%, and Others - 27%
- By Region: North America - 33%, Europe - 27%, APAC - 27%, South America - 7%, Middle East & Africa - 6%
The key market players profiled in the report include Fine Organics (India), Croda International Inc. (UK), PMC Biogenix Inc. (US), Honeywell International Inc. (US), Lubrizol Corporation (US), BASF SE (Germany), Lonza Group (Switzerland), BYK Additives & Instruments (Germany), Emery Oleochemicals (Malaysia), and Evonik Industries AG (Germany).
This report segments the market for slip additives on the basis of type, application, carrier resin, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, expansions and acquisitions associated with the market for slip additives.
Reasons To Buy this Report
This research report is focused on various levels of analysis industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape; emerging and high-growth segments of the slip additives market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on slip additives offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the slip additives market
- Market Development: Comprehensive information about lucrative emerging markets: the report analyzes the markets for slip additives across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global slip additives market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the slip additives market