According to the new market research report “Anti-Slip Coating Market by Resin (Epoxy, Polyurethane, Polyaspartic & Acrylic), Type (Water-based, Solvent-based), End-use Industry, and Region (North America, Europe, APAC, Middle East & Africa, South America) – Global Forecast to 2023″, The anti-slip coating market size is estimated at USD 105 million in 2018 and is projected to reach USD 161 million by 2023, at a CAGR of 6.5% between 2018 and 2023. The growing construction industry and increase in maritime activities are expected to drive the anti-slip coating market.
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Anti-slip coatings are a type of performance coatings that are used to prevent any accidents caused due to slips, trips, or falling. These coatings mainly find their application in construction and marine industries. In this study, the coatings considered are manufactured and marketed as anti-slip coatings. MarketsandMarkets expects the global anti-slip coatings market to grow from USD 105 million in 2018 to USD 161 million by 2023, at a CAGR of 6.5% during the forecast period. Increased worker safety regulations around the world and increasing industrialization are the main factors driving the market.
Anti-slip coatings could be either water-borne or solvent-borne coatings. Water-based coatings are considered to be environment-friendly as they contain less VOC (volatile organic compound) and have less odor, which is important especially when they are applied in confined spaces or in spaces with poor ventilation. The nature of anti-slip coatings varies based on the type of chemistry used to manufacture them.
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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.
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 (Mexico) 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.
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