The market for anti-slip additives is expected to register a CAGR of about 4% globally during the forecast period.
- Increasing applications in industrial flooring and increasing demand from the marine industry are driving the market growth.
- Stringent environmental regulations and other restraints are expected to hinder the growth of the market studied.
Key Market Trends
Growing Applications in Industrial Flooring
- Anti-slip additives, when added to coatings, improve the skid resistance to the coatings and can be applied on different substrates, like wood, metal, fiberglass, and concrete surfaces. These anti-slip additives added coatings are applicable for different areas among which industrial flooring leads in the application.
- Anti-slip additives do not change the color, performance or properties of the paint or coatings to which they are added. They can be added to water or solvent-based system with minimal viscosity effects and also increases slip resistance to the coated floor.
- Stringent regulations from government to maintain industrial safety are increasing the application of anti-slip additives to coatings in industries.
- About 296 approved cold chain projects in food processing have been approved in India as on May 2019 creating a major scope for the usage of anti-slip additives in the industry.
- The Chinese pharmaceutical industry, which is valued at about USD 145 billion currently, represents the biggest emerging market with growth tipped to reach about ~USD 200 billion by 2022, thus, increasing the scope of the market over the coming years.
- Industrial sector leads in the utilization of anti-slip additives with China, the United Kingdom, the United States, India, and Japan, playing a major role in this market.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for anti-slip additives during the forecast period. In countries, like China, India, and Japan, because of growing industrial safety, the demand for anti-slip additives has been increasing in the region.
- The largest producers of anti-slip additives are located in the Asia-Pacific region. Some of the leading companies in the production of anti-slip additives are Hempel A/S, BYK(ALTANA), Axalta Coating Systems, Jotun, and Rust-Oleum.
- The usage of anti-slip additives is more dominant in manufacturing industries, like chemicals and pharmaceuticals, automotive, packaging, and other industries.
- In the marine industry these anti-slip additives added coatings are applied on floors, decks of ships, and boats to increase slip resistance.
- According to the Ship Builders Association of Japan, the gross tonnage of ship size covered 14,354 by end of June 2019, which was 15,097 tonnage by the end of December 2018 creating growth in the market of anti-slip additives.
- The Chinese government has rolled out massive construction plans, including making provisions for 250 million people in its new megacities, over the next ten years, creating scope for application of anti-slip additives to coatings in its construction activity over the coming years.
- These anti-slip additives added coatings can be used on wet areas, dry areas, clean room areas, and other workspaces as a safety measure in industries.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for anti-slip additives market during the forecast period.
The anti-slip additives market is fragmented with players accounting for a marginal share of the market. Few companies include are Hempel A/S, BYK(ALTANA), Axalta Coating Systems, Jotun, and Rust-Oleum, among others.
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