Slip Additives Market

The increase in demand from the marine industry is driving market growth

Slip additives are used to reduce the friction between a ship's hull and the water, which can help to improve fuel efficiency and reduce emissions.Slip additives are used to reduce the friction between a propeller and the water, which can also help to improve fuel efficiency and reduce emissions.Slip additives are used to reduce the friction between the fender systems and the dock, which can help to protect the dock and the fender system.The marine industry is under increasing pressure to improve fuel efficiency.

Slip additives can help to reduce fuel consumption by reducing the friction between the hull and propeller. Furthermore, the marine industry is under increasing pressure to reduce emissions. Slip additives can help to reduce emissions by reducing fuel consumption.

Additionally, increase in demand from the marine industry, a rise in the number of applications in industrial flow, a surge in product demand owing to the need for eco-friendly goods, as well as Increase in people's disposable money, a rise in the  population, rapid industrialization and globalization, and surge in levels of investment for the construction sector's growth are some of the major and vital factors that boost the growth of the anti-slip additives market.

On the other hand, the rise in strategic expansion activities by manufacturing businesses and increased demand from the paints and coatings industry further contribute to the growth of the anti-slip additives market by offering significant potential. In the coming years, an increase in several rigorous environmental regulations and a surge in the tendency to use wooden flooring instead of tiles are expected to function as market restraints for the expansion of anti-slip additives. Furthermore, the rising demand for plastic films for medical applications has positively anticipated propelling the growth of the slip additives market.

Thus, driving the Slip Additives market revenue.

Rust-Oleum Corporation introduced Rust-Oleum SafeStep as an anti-slip additive in 2020. It’s an additive that can be mixed with any paint or coating and works well when applied on traffic surfaces like stairs, ramps, walkways etc.

The Arkema Group introduced Coatex RHEOTECH™4800 as a new anti-slip additive in 2020. The additive is designed to improve the slip resistance of water-based coatings and is suitable for use in various industries such as construction, Flooring and transportation.

The Global Slip Additives Market Industry experiences a surge in demand for high-performance plastics, particularly in packaging and automotive applications. As industries seek materials that enhance product durability and reduce friction, slip additives play a crucial role. For instance, the packaging sector is projected to witness substantial growth, with the market expected to reach 0.22 USD Billion in 2024. This trend indicates a shift towards more efficient materials that can withstand rigorous conditions while maintaining functionality, thereby driving the adoption of slip additives across various sectors.

By Region, the study providesmarket insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific Slip Additives Marketarea will dominate this market, owing to the rapid industrialization in emerging economies and the growing middle-class population, and the increasing consumption of packed goods will boost the market in the Region.Moreover, China’s Slip Additives market held the largest market share, and the Indian Slip Additives market was the fastest-growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: SLIP ADDITIVES MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Slip Additives market accounts for the second-largest market share due to the presence of a few major players in this Region. The established packaging industry is another factor for the growth. Further, the GermanSlip Additives marketheld the largest market share, and the UK Slip Additives market was the fastest-growing market in the European Region

The North American Slip Additives marketis expected to grow at the fastest CAGR from 2023 to 2032. This is due todue to the widespread use of packaging in food & beverage, healthcare, and other industrial applications.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Slip Additives market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Slip Additives industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Slip Additives industry to benefit clients and increase the market sector. In recent years, the Slip Additives industry has offered some of the most significant advantages to medicine.

Major players in the Slip Additives market, includingFine 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)., and others, are attempting to increase market demand by investing in research and development operations.

Croda International plc is a British specialty Chemicals Company based in Snaith, England. It is listed on the London Stock Exchange. Croda International announced the acquisition of the assets of Slipstream Technologies, a UK-based supplier of slip additives. The acquisition will strengthen Croda International's position in the slip additives market, and it is expected to help the company to meet the growing demand for slip additives in a variety of applications.

Eastman Chemical Company is an American company primarily involved in the chemical industry. Once a subsidiary of Kodak, today it is an independent specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. Eastman Chemical launched its new line of high-performance slip additives for use in the automotive industry. The additives are designed to meet the demanding requirements of the automotive industry, such as high-temperature resistance and low wear.