The market size for anti-slip coatings is projected to grow from USD 105 million in 2018 to USD 161 million by 2023, at a CAGR of 6.5% during the forecast period. The major driving factors of the anti-slip coatings market are increasing industrialization and implementation of safety measures for workers and the general public.
Anti-Slip Coating Market Key Players
The leading players in the anti-slip coatings market are 3M (US), PPG Industries (US), Axalta Coating Systems (US), Hempel A/S (Europe), RPM International (Mexico), Sherwin Williams (US), Amsteps Products (England), Randolph products (UK), No Skidding Products (US), North Central Electric (US), Paramelt RMC B.V (Netherlands), Safemate Anti-Slip Pvt. Ltd. (Germany), Skidproof Ltd. (UK), Industrial applications Inc. (UK), Halosurfaces International Ltd. (New Zealand), Wooster Products (US), Anti-slip Anywhere (US), Tesoplas (England), American Safety Technologies (US), and Diamond Safety Concepts (Japan). These players adopted expansions and acquisitions as their key growth strategies from 2015 to 2018, which helped them increase their capacities and cater to the widening customer base.
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PPG Industries (US) adopted the strategy of merger & acquisition to meet the rising demand from the domestic and international markets. The company, in October 2017, acquired a coating company named ‘Crown Group.’ The company is the leading component and product finishers in North America. This is expected to allow PPG to access to the already existing market of Crown Group. PPG completed a high-performance waterborne and high-solids coatings production line in China. This line enhances the production and service capabilities of PPG’s automotive coatings business for customers in China.
RPM International launched a line of industrial-strength options, including anti-slip additives, which are effective for high traffic areas or shop environments. These additives create a slip-resistant surface and add texture to interior floor coatings. RPM International Inc. acquired Key Resin Company, which is a manufacturer of polymer flooring and coating systems. The company also acquired Prime Resins, which is a manufacturer of specialty chemicals and equipment for infrastructure construction and repair.
“Anti-slip coatings market to witness higher CAGR in construction flooring end-use industry during the forecast period.”
The two key end users of anti-slip coating are construction flooring and marine deck. Construction flooring is the dominant end user of anti-slip coatings, globally. They use these coatings to avoid any accident caused due to slipping, tripping, or falling. The demand for anti-slip coatings from the end-use industries such as commercial, residential, and industrial construction is expected to drive the growth of the construction flooring segment.
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“Epoxy resin segment to witness the highest growth in overall anti-slip coatings market during forecast period.”
Epoxy resin is widely used as protective and performance coatings due to their properties such as good adhesion, flexibility, solvent resistance, hardness, and wear and tear strength. It is a predominantly thermosetting resin, which becomes irreversibly hard after curing. In industrial flooring, epoxy resins are preferred as they provide a hard and strong surface to walk. They are used in industries where accidents due to slips are more likely to happen. The growth of the epoxy-based anti-slip coatings market depends on the overall protective and performance coatings market. Traditionally, epoxy coatings have been applied as solvent-borne systems. However, due to increasing environmental concerns, water-borne coatings are increasingly preferred.
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“APAC to hold the largest market for anti-slip coatings during the forecast period.”
APAC is one of the most promising markets for anti-slip coatings, both in terms of production and consumption. The availability of raw materials along with significant domestic demand make it the most attractive market, globally. The region has the two most populous countries in the world China and India, which together account for more than 35% of the global population. The growing building & construction and industrial sectors are expected to increase the demand for anti-slip coatings in the region.
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