Advancements in packaging technologies in emerging economies, such as China, South Korea, and India are driving the growth of the slip additives market across the globe
The slip additives market is projected to grow from USD 212.4 million in 2018 to USD 270.1 million by 2023, at a CAGR of 4.9% during the forecast period. APAC is the largest and the fastest-growing market for packaging. Significant demand for packaging from emerging countries, such as China and India, is driving the global packaging market. The rising demand for packaging films in various sectors of the economy, such as industrial, medical & pharmaceutical, food & beverages, and electronics, is boosting the market for slip additives in the region. However, stringent regulations imposed on plastic packaging may act as a restraint for the slip additives market.
Among types, the fatty amides segment is expected to lead the slip additives market between 2018 and 2023 in terms of value
Fatty amides are the most widely used type of slip additives, as these enhance the life, as well as the quality of substrates wherein these are applied. Fatty amides are extensively used as slip additives in various plastic packaging and paints & coatings applications. The erucamide subsegment is estimated to account for the largest share of the fatty amides slip additives in 2017.
Among applications, the packaging segment is expected to lead the slip additives market during the forecast period, in terms of value
The packaging segment is further segmented into food & beverage, consumer goods, healthcare, and others (industrial and agricultural). The food & beverage subsegment is expected to grow at the highest CAGR between 2018 and 2023. The high growth of the slip additives market is due to their cost-effectiveness, easy availability of raw materials, and easy processing of polymer resins for various packaging applications.
The slip additives market in the APAC is projected to grow at the highest CAGR between 2018 and 2023 in terms of both, value and volume
The slip additives market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is expected to lead the slip additives market during the forecast period, owing to the increasing demand from emerging economies, such as China, India, and South Korea due to the growing packaging sector and industrialization. Furthermore, due to the presence of major packaging manufacturing companies in the region, the slip additives market is expected to witness significant growth. The Asia Pacific slip additives market is also projected to grow at the highest CAGR between 2018 and 2023, in terms of value.
Breakdown of Primaries:
Primary interviews have been conducted with a number of industry experts to obtain information related to the slip additives market. The breakdown of primary interviews has been depicted below:
• By Company: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
• By Designation: C-Level Executives - 21%, Directors - 23%, and Others - 56%
• By Region: North America – 30%, Europe - 18%, Asia Pacific - 41%, and RoW - 11%
Key companies supplying slip additives are:
• Fine Organics (India)
• Croda (UK)
• PMC Biogenix (US)
• Lubrizol (US)
• Afton (US)
• BASF (Germany)
• Emery Oleochemicals (Malaysia)
• Honeywell (US)
• Evonik (Germany)
• BYK Additives (Germany)
• Lonza (Switzerland)
This report segments the slip additives market on the basis of type, carrier resin, application, and region. It provides estimations for the overall value of the slip additives market and its subsegments across various regions. A detailed analysis of key players operating in the slip additives market has been conducted to provide insights into their businesses, products & services offered by them, key growth strategies adopted, and recent developments, such as expansions and acquisitions.
Reasons to Buy the Report:
This report is expected to help leaders/new entrants in the slip additives market in the following ways:
• Provide a better understanding of the slip additives market
• Provide information on the drivers, challenges, and opportunities influencing the growth of the slip additives market
• Gain insights regarding competitors and their positions in the slip additives market