Slip Additives Market size is forecast to reach $307.48 million by 2026, after growing at a CAGR of 5.23% during 2021-2026. Slip additives provide a cost-effective solution to the issue of friction in polymers. The use of slip additives in plastics is a practical necessity for both the manufacturer and the user of the finished product. In addition, the rising demand for slip additives from emerging economies such as India and South Korea is expected to fuel the market worldwide.
Slip Additives Market Segment Analysis – By Type
Fatty Amides held the largest share in the Slip Additives market in 2020. Fatty amides are commonly used as slip additives in various plastic packaging and paint & coating applications. The demand for organic additives would fuel the market for fatty amide-based slip additives during the forecast period. Rising government investment and ease of foreign direct investment (FDI) in the manufacturing sector in developing countries in Asia-Pacific is the result of increasing demand for fatty amides from that region.
Slip Additives Market Segment Analysis – By Carrier Resin
Linear Low-Density Polyethylene held the largest share in the Slip Additives market in 2020. They can be blown or cast as LDPE and are low cost and highly flexible polymers. LLDPE films and sheets have higher puncture resistance, high tensile strength and acceptable low-temperature properties. LLDPE resins are available in a range of grades depending on the form of use. The lower density grades are ideal for achieving a good balance of impact strength and durability, whereas the higher density LLDPE grades are used to achieve higher film stiffness. These factors are expected to drive demand for LLDPE carrier resin over the forecast period.
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Slip Additives Market Segment Analysis – By Application
Packaging is projected to witness highest share in Slip Additives market in 2020 and is expected to grow by 6%. In particular, polymer films are preferred for packaging and labelling in the packaging industry. The main role of slip additives in the production of polyethylene and cast film is to deliver slippery properties to the film surface. In addition, growth is due to the growing demand for food & beverage packaging. The use of plastic packaging eliminates leakage and increases the shelf life of the product. Plastic has a strong demand for food packaging products due to its convenience and portability. The primary role of food & beverage packaging is to minimize food loss and improve the shelf life of food items.
Slip Additives Market Segment Analysis – By Geography
Asia-Pacific (APAC) dominated the Slip Additives market growing at CAGR of 40% followed by North America and Europe. Rapid industrialization in emerging economies such as China and India is expected to fuel the sliding demand for additives in the region. Growing disposable income, shifting lifestyles, rising middle-class population and increasing consumption of packaged goods are expected to drive the packaging industry, which in turn, is likely to help the growth of the demand for slip additives. The market for ready-to-eat food, convenience food and processed and semi-processed food is increasing in China. Consumers prefer quality and reliable goods, which increase demand for imported food and beverage products. Moreover, FDI and ready availability of raw material are further augmenting the market. Currently, the manufacturing and other related industries have been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In turn, has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Slip Additives Market Drivers
Properties and Increasing demand for end-use industry.
Various features offered by slip additives, such as durability, relative clarity, resilience and others are another factors expected to increase the adoption of slip additives, which in turn, is expected to drive growth in the target market over the forecast period. In addition, the growing demand for plastic films in medical applications is another factor expected to increase the demand for additives which in turn, is expected to drive growth in the near future.
Rapid industrialization and infrastructure activity will augment the growth of Slip Additives.
Improvement in economic climate along with boom in industrialization and infrastructure activity across the globe is leading the growth of Slip Additives. Oxford Economics has estimated global infrastructure investment needs to be $94 trillion between 2016 and 2040. This is 19 percent higher than would be delivered under current trends. With the increasing rate of industrialization and infrastructure activity, as a result of which Slip Additives growth is augmenting.
Slip Additives Market Challenges
Impact in Environment and Health Hazard will restrict market growth.
Countering market growth is a growing concern about the health hazards associated with raw materials and their unpredictable prices and environmental regulations, especially in advanced western countries. In recent time there has been growing concern regarding the usage of plastic as it possesses grave danger to environment. The decline in the plastic industry will have impact on the slip additives in terms of demand.
Slip Additives Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Slip Additives market. In 2020 the Slip Additives market has been consolidated by the top five players accounting for xx% of the share. Major players in the Slip Additives market rare Croda International, Evonik Industries AG, BYK Additives, Lonza, PMC Group and Others.
Acquisitions/Technology Launches/ Product Launches
In May 2019, Dow Chemical Company launched silicone-based slip additive which lower the COF of blown film to reduce its resistance to sliding over itself or manufacturing rollers. This improved slip performance which is stable over time and under high temperatures contributes to increased production speed, uninterrupted throughput and uniform film quality.
Asia Pacific dominates the Slip Additives market owing to rapid increase in food and beverages industry supported with rapid industrialization.
Fluctuations in feedstock prices, changing environmental and health regulations and safety norms in various end-use industries are expected to restrain the market.
The market drivers and restraints have been assessed to understand their impact over the forecast period. The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications in Slip Additives market and their specific segmented revenue.
Related Reports :
A. Fatty Amides Market
B. Low-Density Polyethylene Market
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