Slip Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for slip additives is anticipated to grow at a CAGR of over 4% globally during the forecast period. The major factors driving the market are increasing demand from the food & beverage packaging industry and availability at low prices compared to substitutes. On the flip side, stringent environmental regulations are hindering the growth of the market.

Key Highlights

• The packaging industry is expected to dominate the global slip additives market over the forecast period.
• Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Packaging Application to Dominate the Market

• The increasing demand for slip additives is majorly attributed to the growing demand from food & beverage packaging. The use of plastic packaging reduces leakage and helps in extending the shelf life of the products packed.
• One of the major trends in the packaging industry is the ban on the usage of single-use plastic to reduce packaging waste without compromising the safety and hygiene of the products. This will boost the demand for polyolefin plastic packaging films.
• Slip additives are widely used during the manufacturing of thin films and sheets in order to prevent friction and get the desired properties in packaging material.
• The packaging segment is anticipated to be the largest application of slip additives. Polymer films are mainly preferred in the packaging industry for packing and labeling. The key function of slip additives in the production of polyethylene and cast film is to deliver slip properties to the film surface.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific represents the largest market for slip additives owing to the increasing consumption from countries such as China, Japan, and India.
• Asia-Pacific is a favorable region for foreign investments and booming industrial sectors, mainly on account of low-cost labor, the ready availability of raw materials, rise in the adoption of newer technologies and innovations, and ease in availability of inexpensive acreages.
• Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of packed products are expected to drive the packaging industry, providing various growth prospects to the slip additives market.
• Escalating need by the food and beverage industry is promoting steady growth and driving innovation, particularly in recyclables and flexible packaging. China continues to dominate in demand.
• Consumers are favoring quality and trustworthy products, which is boosting the demand for imported food & beverage products. This has grown pressure on domestic food & beverage manufacturers to manufacture high-quality products that come in safe and easy packaging. These factors are likely to surge the demand for slip additives in the region.

Competitive Landscape

The global slip additives market is partially fragmented in nature with various players present in the market. Some of the major companies are PMC Group, Inc., Croda International Plc, Evonik Industries AG, Lonza, and BYK Additives among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support