Research Nester published a report titled “Global Slip Additives Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global slip additives market in terms of market segmentation by type, PPM slip content, carrier resin, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global slip additives market is estimated to garner a substantial CAGR over the forecast period, i.e., 2021–2029. The market is segmented on the basis of type into fatty acid amides, waxes, and others, out of which, the fatty acid amides segment is anticipated to hold the largest share in the market during the forecast period owing to the higher ability to reduce friction, backed by lower coefficient of friction (COF), along with easy availability and cheap prices. On the basis of application, the slip additives market is segmented into packaging and non-packaging, out of which, the packaging segment is estimated to hold the largest market share during the forecast period, on the back of the increasing use of slip additives to improve the strength and durability of packaging films. Moreover, the growing food & beverages industry is anticipated to further boost the growth of the segment.
The growth of the market can be accounted to the technological advancements in the packaging industry backed by the growing demand for ready-to-eat food & beverage, and other fast moving consumer goods. Slip additives prevent friction between the packaging films, and deliver the desired strength and flexibility in the packaging material. Additionally, slip additives reduce handling problems with the packaged goods, which reduces the damage to the good significantly. These properties are estimated to boost the market growth.
Regionally, the global slip additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the presence of major packaging manufacturers, along with growing consumer goods manufacturing industry in the region. Furthermore, the increasing government investment in the manufacturing industries in developing countries, such as, China, Japan, and India, along with the availability of a large consumer base, is anticipated to drive the market growth. The market in the North America is projected to hold a significant share throughout the forecast period owing to the growing demand for packaged, ready-to-cook, and ready-to-eat food, backed by the busy working life of the people. Moreover, the market in countries, such as, the U.S., and Canada are export-oriented, which magnifies the need for durable, strong, and friction free packaging of the products in order to minimize the damage that may occur during transportation. As per the statistics by the World Bank, the total import and export expenditure in the U.S. valued USD 3.068 trillion, in the year 2019.
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Growth of the Packaging Industry to Positively Influence the Market Growth
Packaging is a major part of almost every product used globally, varying from eatables, cosmetics, personal care goods, drugs and medicines, and other consumer goods. The growing demand for efficient, long-lasting, and damage-resistant packaging films, is expected to increase the demand for slip additives amongst the manufacturers of packaging films, which, in turn, is estimated to boost the market growth.
However,environmental impact of plastic, especially single-use plastic is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global slip additives market which includes company profiling of BYK-Chemie GmbH, Lonza Group Ltd. (SWX: LONN), PMC Group, Inc. (BOM: 534060), Croda International Plc (LON: CRDA), Ampacet Corporation, Palsgaard A/S, Thermo Fisher Scientific Inc. (NYSE: TMO), Purolite Corporation, Emery Oleochemicals, and Evonik Industries AG (ETR: EVK). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global slip additives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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