The Slip Additives Market is projected to be worth USD 288 Million by 2030, registering a CAGR of 5% during the forecast period (2021 - 2030).
Slip Additives Market Overview The Slip Additives Market is projected to be worth USD 288 Million by 2030, registering a CAGR of 5% during the forecast period (2021 - 2030). Slip additives are chemicals that are mixed into lubricants to improve their performance. Antiwear agents and extreme pressure additives are other names for them. Slip additives reduce friction and wear in machinery, increasing efficiency and extending the life of the equipment. Slip additives also reduce film-to-film and film-to-metal surface friction, providing resistance to interference in the downstream process, providing thermal stability, reducing adhesion, assisting separation, improving efficiency, and lowering processing costs.Slip additives are widely used in the automotive, industrial, and aerospace industries. The demand for packaging films in these industries has fueled the growth of the product market. Another factor that may drive the growth of the global slip additives market is growing awareness of eco-friendly plastic additives and high-quality, high-performance safe plastic packaging. Owing to their outstanding performance and low-cost, fatty amides-based slip additives are expected to grow at the fastest rate.
Global Slip Additives Market Share, by Type (2017)
Source: MRFR Analysis
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 global slip additives market has been segregated into LDPE, LLDPE, HDPE, and PP, based on the carrier resin.
By application, the global slip additives market has been classified as packaging and non-packaging.
The global slip additives market has been analyzed across five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific dominated the global slip additives market in 2017. This can be attributed to the growth of the packaging industry in the region. The region is expected to be the largest and fastest-growing market during the forecast period.
The North American market held the second-largest share of the global slip additives market in 2017 due to the widespread use of packaging in food & beverage, healthcare, and other industrial applications. The regional market is expected to showcase remarkable growth during the forecast period.
The growth of the product market in Europe can be attributed to the presence of a few major players in this region. The established packaging industry is another factor for the growth of the European slip additives market.
The Latin American market is expected to showcase steady growth in the coming years owing to the moderate growth of the packaging industry.
The market in the Middle East & Africa is projected to grow at a sluggish rate due to the slow growth of the healthcare, food & beverage, and agriculture industries in the region.
Some of the major players in the global slip additives market are Fine Organics (India), Croda International PLC (UK), PMC Group Inc. (US), the Lubrizol Corporation (US), Afron (US), BASF SE (Germany), Emery Oleochemicals (Malaysia), Honeywell International Inc. (US), Evonik Industries AG (Germany), Altana (Germany), and Lonza (Switzerland).Recent Development
Ampacet, a global masterbatch leader, has expanded its ScratchShield line of additives to include two new products that help protect plastic products from scratch and abrasion without affecting the gloss or mechanical properties of the resin. ScratchShield masterbatch additives reduce the appearance of scuffs and scratches in preforms, bottles, and a variety of PET packaging without the need for a surface coating. These additives also significantly improve preform demolding while protecting the manufacturing process from guide rails and conveyor systems.
PMC Group International, Inc., an independent subsidiary of PMC Group Companies, announced the acquisition of Cobra Investments Management Inc. and its two subsidiaries, Copperhead Chemical Company Inc. ("Copperhead") and Copperhead Investments Inc., from a group of previous owners. Copperhead is the manufacturing arm of the three acquired entities, and it is located in Tamaqua, Pennsylvania, on an 875-acre campus with 53 buildings. This acquisition expands the group's presence in the pharmaceutical market.
|Market Size||2030: Significant Value|
|CAGR||2022-2030: Substantial CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Carrier Resin, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Fine Organics (India), Croda International PLC (UK), PMC Group Inc. (US), the Lubrizol Corporation (US), Afron (US), BASF SE (Germany), Emery Oleochemicals (Malaysia), Honeywell International Inc. (US), Evonik Industries AG (Germany), Altana (Germany), and Lonza (Switzerland)|
|Key Market Opportunities||demand for packaging films in automotive, food & beverage packaging, healthcare equipment, and consumer goods packaging applications|
|Key Market Drivers||growing awareness of eco-friendly plastic additives and high-quality, high-performance safe plastic packaging|
The slip additives market was dominated by the Asia Pacific region.
The types included are LDPE, LLDPE, HDPE, and PP.
The LLDPE segment had the largest market share in 2017.
The fatty amides segment is expected to lead the segment.
The slip additives market has packaging and non-packaging.