Slip additives are utilized in polymer films to diminish the coefficient of friction (COF) and improve either processing, performance in fabrication or downstream packaging equipment, or the end-use execution of polymers. These additives change the properties and performance of polymers by moving to the surface of the polyolefin films and reducing the COF. The effectiveness of slip additives is normally determined by the COF they allow. Slip additives additionally reduce film-to-film and film-to-metal surface friction, offering resistance to interference in the downstream procedure, and offer thermal stability, thereby, limiting adhesion, helping separation, improving efficiency, and reducing processing costs. Slip additives offer a cost-effective solution to the issue of friction in polymers. The utilization of slip additives in plastics is a practical requirement for both the manufacturer and the end-product consumer. Slip additives can be applied to the surface that diminishes friction and helps the product release from the mold. This is often used with plastic items that will be stacked. A slip additive will help the consumer effectively separate those stacks & prevent them from sticking together. The Global “Slip Additives Market” is accounted for $198.0 million in 2017 and is expected to reach $359.9 million by 2026 growing at a CAGR of 6.9% during the forecast period.
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Increasing demand for slip additives in packaging applications is providing ample opportunities for the slip additives market growth. The progress is because of the high demand from food & beverage packaging. The utilization of plastic packaging diminishes leakage and expands the shelf life of the product. Plastic has a huge popularity for packaging food products because of its convenience and portability. The main functions of food & beverage packaging are to reduce food loss and increase the shelf life of food products. One of the significant changes in the food & beverage industry is the decrease in the amount of packaging, mostly non-recyclable, to reduce packaging waste without compromising on the safety and hygiene of the food products. This results in the rising demand for polyolefin plastic packaging films. Polymer films are mainly chosen in the packaging industry for packing and labeling. Slip additives are mostly utilized during the manufacturing of thin films and sheets in order to prevent friction and get the ideal properties in packaging material.
The packaging industry is extremely dependent on the use of plastics. The growing familiarity of eco-friendly plastic additives and high-quality, high-performance safe plastic packaging is anticipated to support the growth of the global slip additives market. Furthermore, the demand for packaging films in automotive, healthcare equipment, and consumer goods packaging applications is projected to propel the market growth during the forecast period. Moreover, growing developments in the packaging industry and rising demand for the bio-based slip additives are other important factors which are likely to support revenue growth of the global slip additives market over the next few years.
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Rapid industrialization in emerging economies, such as China and India, is likely to fuel the slip additives market in the Asia Pacific region. The rising disposable income, industrialization, changing way of life, rising middle-class population, and the increasing intake of packed goods are likely to support the packaging industry, which, in turn, is expected to support the growth of the slip additives market. The demand for ready-to-eat food, convenience food, and processed & semi-processed food is increasing in China. People in this region are choosing quality and trustworthy products, which is increasing the demand for imported food & beverage products. This has increased pressure on domestic food & beverage manufacturers to make high-quality products that come in more secure and easy packaging.
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Asia Pacific is the highest and the fastest developing slip additives market and provides significant growth opportunities to the market players in the packaging and non-packaging segments. According to the World Bank, the two economic giants of the Asia Pacific region - China and Japan - were the world’s second- and third-largest economies, respectively, in 2018. Asia Pacific is the favourable region for foreign investments and has booming industrial sectors,to a great extent because of low-cost labour, the ready availability of raw materials, an increase in the adoption of sophisticated advancements and innovations, and easy availability of inexpensive lands. These factors are anticipated to drive the slip additives market in the Asia Pacific region.
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