Slip Additives Market

Slip Additives Market Size (2023-2028)

The slip additives market was valued at 290 million USD in 2022 and is expected to grow at a CAGR of 8% during the outlook period of 2023-2028

Drivers and Restraints of the Slip Additives Market:

The electronics industry is one of the biggest industries in the world. Many big players in electronic gadgets are based in North America, Europe, and Asia. They use engineered plastics as the primary material for their products. Slip additives are quickly replacing traditional materials in many manufacturing and industrial sectors and thus this adoption of the former is driving the market throughout the world. Slip additives provide a robust solution to this problem at a relatively cheap cost for the automotive industry and thus many of them are switching to this low-cost alternative.

The stringent government norms from various governments have made the usage of plastic more and more difficult over time as a result of this, for achieving the goal of lighter products, industries are turning towards composites in place of engineered plastic; hence the growth gets thwarted in this respect. Many industries have to look for substitutes for the material. In this process, aluminum turns out to be an excellent alternative.

The slip additives market has been segmented into the following categories:

Slip Additives Market - By Type:

• Erucamide
• Oleamide
• Stearamide
• Behenamide
• Waxes
• Polysiloxanes

Slip Additives Market - By Resin Type:

• Polyethylene (PE)

• Polypropylene (PP)

• Poly Vinyl Chloride (PVC)

• Polyethylene Terephthalate (PET)

• Polyamides

• Polyether Ketone

• PolyAcetal

Slip Additives Market - By Application:

• Automotive and Transport

• Non-Alcoholic Beverage

• Industrial and Machinery

• Pharmaceutical

• Packaging

• Personal Care Equipment

The segment of Fatty amides that include erucamide, stearamide, oleamide, and others is forecasted to witness the highest CAGR in the forecast period of 2020 to 2025. These amides provide excellent performance by reducing friction. These fatty amides are also available at a relatively low cost and are gaining popularity in various end-user industries. The automotive industry also uses slip additives at a significant rate as many vehicular components are made out of plastic as it provides durability at a low cost. Major market players are using these in vehicles that are designed for a larger customer base. The use of polyolefins has increased in the last few years. These materials are known for their excellent durability and are therefore used in various mechanical and electrical industries. The packaging segment is projected to lead the slip additives market during the forecast period. The growth is because of the increasing demand for food & beverage packaging.

The use of plastic packaging reduces the issues of leakage and extends the shelf life of the product. Also, plastic has a high demand for packaging food products due to its convenience and portability. One of the major changes in the food & beverage industry is the reduction in the amount of packaging, largely non-recyclable, to mitigate packaging waste without compromising on the safety and hygiene of the food products. This has resulted in the increasing demand for polyolefin plastic packaging films. Slip additives are widely used for the manufacturing of thin films and sheets in order to prevent friction and get the desired properties in packaging material. Also, the protective plastic packaging market is expected to grow at a CAGR between 3 to 4% in the outlook period. This segment has a vast application in various sectors like medical, industrial packaging, etc., as they rely on this plastic packaging industry for their functioning.

SLIP ADDITIVES MARKET REPORT COVERAGE:

Slip Additives Market - By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

APAC is the fastest-growing region in terms of CAGR for slip additives. The economies of China and India are growing rapidly, and it provides plenty of investment opportunities for various market players. The trend of globalization and westernization is also supporting the developments in the local market. The growing affluence of the people is creating a demand for better quality goods that are more durable. The packaging sector of North America is also another segment where slip additives are heavily used. Various industries are using plastic for manufacturing the various components of their products.

Slip Additives Market Key Market Players:

1. BASF SE

2. SABIC

3. Plastico SPS

4. Zamil Plastic

5. Solvay

6. DuPont

7. Constantia Flexibles GmbH

Impact of COVID-19 on the Global Slip Additives Market:

Coronavirus has had a morose impact on various production markets across Europe, North America, and Asia. It has negatively affected the demand for composites across various end-use industries such as aerospace & defense, construction & infrastructure, automotive & transportation, wind energy, and pipes & tanks. However, because of the lockdown imposed by various governments worldwide, the logistic operations for the essential items increased during this period and the slip additives market saw an upward trend in the market. The market is expected to continue this growth and carry it into 2021.

Recent Developments:

• In 2020, De’Loghi, an Italian household company has begun using polyethersulfone (PESU) of BASF for their coffee machines. The adoption came after the latter’s plastic product imposed superior properties and high resistance to temperature.