The global slip additives market is expected to experience stable growth over the forecast period due to the growing demand for plastic packaging products, according to the latest research report from Market Research Future (MRFR).
Slip additives are used in the production of polymer films to reduce their coefficient of friction and make them smooth and prone to sliding. The slip additives rise to the surface of the polymer films during manufacturing, thus preserving their effect over a long time. The addition of slip additives also alters the properties of the material during production, allowing for smoother production and post-production processing. The rising demand for technological innovations to make polymer production smoother and more reliable is likely to drive the demand from the slip additives market over the forecast period.
The growing packaging industry is likely to be the core driving factor for the global slip additives market, as the packaging industry accounts for a dominant share in the global slip additives market and is likely to remain the leading consumer over the forecast period. The growing ecommerce sector and globalization of the market has led to growing demand for plastic packaging products that last the distance and are easy to handle. This has led to a significant boost to the global slip additives market, which is likely to sustain over the forecast period.
The ecological viability of slip additives is likely to come under the scanner in the coming years, as plastic products are one of the significant classes of pollutants all over the world. The entire production process of plastics is likely to be remodeled significantly following regulations and updates that enforce the use of ecologically sound additives. This could play a significant role in the growth and development of the global slip additives market over the forecast period.
Competitive Analysis:
Leading players in the global slip additives market include Fine Organics, PMC Group Inc., Afron, Emery Oleochemicals, Evonik Industries AG, Lonza, Altana, Honeywell International Inc., BASF SE, the Lubrizol Corporation, and Croda International PLC.
In October 2017, Croda International PLC announced plans to double its production capacity of polymer additives at its plant in Hull, the UK. The company plans to invest USD 35.04 million on the site in an effort to expand production.
Segmentation:
The global slip additives market has been segmented based on type, carrier resin, application, and region.
Based on type, the global slip additives market has been split into the fatty amides and waxes and polysilioxanes segments. The fatty amides segment has been further divided into erucamide, oleamide, stearamide, and behenamide. The fatty amides segment holds a major share in the global slip additives market due to the consistent excellence of the results obtained by the use of fatty amides and the widespread usability of the product group.
The global slip additives market has been segregated into LDPE, LLDPE, HDPE, and PP, based on the carrier resin. The LLDPE segment held the largest share in the global slip additives market in 2017 due to the growing demand for LLDPE in packaging as well as other applications.
By application, the global slip additives market has been classified as packaging and non-packaging. The packaging industry dominates the global slip additives market and is likely to remain the leading end user over the forecast period.
Regional Analysis:
Asia Pacific dominates the global slip additives market share and is likely to remain the leading consumer over the forecast period due to the growing packaging industry in the region. Growing international shipping and the rapid growth of the ecommerce sector in proliferating economies such as China, South Korea, and India have resulted in a rapid rise in demand for plastic products, leading to a growing demand from the slip additives market. Asia Pacific is also expected to exhibit the fastest growth in the global slip additives market over the forecast period. North America follows Asia Pacific in the global charts and is likely to remain a significant entity over the forecast period due to the presence of several major players and a number of significant research efforts in the region.
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