Research Nester published a report titled “Slip Additives Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the network access control market in terms of market segmentation by product type, by services, by verticals, by deployment, and by region.
The global slip additives market is estimated to garner a substantial CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the ongoing advancement in packaging industry backed by the growing food & beverage packaging industry. Slip additives are used to manufacture thin films and sheets in order to prevent friction between the films, and between the film and the machines, and get the desired properties in packaging material. Slip additives enhance the strength and durability of the films, and reduce handling problems. These also reduce a film’s resistance to sliding over itself or over the parts of converting equipment. Such features are estimated to boost the demand for slip additives amongst the manufacturers of packaging solutions.
The global slip additives market is segmented by 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 on account of its easy availability, lower coefficient of friction (COF), and affordable prices, as compared to waxes and other additives. These are excellent in reducing friction in thinner films, which is estimated to further boost the growth of the segment. On the basis of application, the packaging segment is estimated to hold the largest market share during the forecast period, owing to the increasing use of slip additives to improve the quality of packaging films, including polyolefins, polyethylene terephthalate (PET), and others. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
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